MySB
Close Panel
Click for weather info64°F

Upcoming Lottery

Affordable Homes at Estancia

3714 State Street, Santa Barbara, CA 93105
 

The next project is currently under construction at 3714 State Street (“Estancia”).  The project will feature: 

  • (5) Middle Income 2-bdrm units priced at $317,400
  • (4) Middle Income 3-bdrm units priced at $360,600

We are not accepting lottery applications at this time and we do not have a timeframe for the lottery application period yet.  However, we will send an email notification to individuals on our Interest List once the lottery application period commences.  

If you would like to be on our notification list, please submit an Interest List form.  Please keep in mind—the Interest List form needs to be re-submitted every six months in order for you to remain on our notification list.

The affordable homes at Estancia are restricted to Middle Income households that meet certain criteria as outlined in the Eligibility Requirements.  The combined annual gross income of all household members cannot exceed the following:

Income Limits (as of 4/14/2017 and subject to change)

Household Size
(Adults + Children)

Maximum Allowable Income
(Gross income from all sources)

1 Person

$82,768

2 Persons

$94,592

3 Persons

$106,416

4 Persons

$118,240

5 Persons

$127,699

These condominiums are subject to requirements outlined in the Affordability Covenant and Option to Purchase.  This ninety (90) year covenant restricts the price of the condominiums, the maximum household income of the buyers and defines the owner’s responsibilities.  The Affordability Covenant and Option to Purchase gives the City the first right of refusal to purchase the unit when an owner elects to sell.

These condominiums are also subject to the rules and regulations of the homeowners association (HOA) as declared in the Covenants, Conditions, and Restrictions (CC&Rs), Bylaws, Budget, and other related association documents. 

Top of Page