Downtown & Upper Monterey
The historic core around Higuera, Marsh and Monterey Streets, the Mission and the creek, plus the Monterey Street corridor toward the Highway 101 north ramps. Most new housing here is mixed-use and multi-family.
Includes: Downtown core · Old Town · Mill Street & Monterey Street
Home market: ZIP 93401
East, south & downtown SLO. Sales for August 2026; homes for sale as of October 8, 2026. ZIP-level data from Redfin, the smallest area with reliable figures.
Homes sold at 99.3% of list price on average. Monthly ZIP figures swing with a small number of sales, so compare several months before drawing conclusions. Countywide trends are on the market data page.
What's being built: 13 projects
Every project of five or more homes or 2,500+ sq ft of commercial space that the City is tracking in this area, from the City's Current Development Projects map. Each "Map" link opens the location.
Under construction (2)
Building permits issued; work underway
| Project | What it is | Location |
|---|---|---|
| San Luis Square | Mixed-use: 52 homes, 36 hotel rooms and 13,500 sq ft of commercial space. | Map |
| 1422 Monterey St., Building 1 | 45 affordable homes (phase 1 of a mixed-use project). | Map |
Under building review (6)
Building plans in City plan check
| Project | What it is | Location |
|---|---|---|
| Monterey Place | Rehabilitation of the Leitcher Building plus mixed-use: 30 homes, 8,500 sq ft of commercial space, a paseo and underground parking. | Map |
| 545 Higuera Street | Four-story mixed-use: 64 homes and 4,649 sq ft of commercial space. | Map |
| SLO Repertory Theatre | Two-story, 23,344 sq ft theater building. | Map |
| 1422 Monterey St., Building 2 | 55 affordable homes (phase 2 of a mixed-use project). | Map |
| 1422 Monterey St., Triplex | 3 affordable homes. | Map |
| 1042 Olive Street | Three-story mixed-use: commercial space, leasing office and 10 homes. | Map |
Pending building submittal (2)
Planning entitlements in place; building plans not yet submitted
| Project | What it is | Location |
|---|---|---|
| 1239 Monterey Street | Redevelopment into mixed-use: 12 homes and 2 hotel suites. | Map |
| Gas Works Mixed-Use | 49-unit residential building and a 2,150 sq ft commercial building, with rehabilitation of a historic structure. | Map |
Under planning review (3)
Application filed; not yet approved
| Project | What it is | Location |
|---|---|---|
| Waterman Village | Rehabilitation of the historic Rosa Butrón Adobe plus 20 affordable homes. | Map |
| 382 Pismo St. Apartments | 24-unit apartment building. | Map |
| 562 Pacific Street | Density bonus project: a new 10-unit building, keeping six existing units (16 total). | Map |
Public schools
No San Luis Coastal Unified campuses are located in this area. See the full list of City schools.
Schools listed are located in or next to this area; school assignment depends on your exact address. Confirm with San Luis Coastal Unified School District.
Open space & walkability
San Luis Obispo as a whole has a Walk Score of 56 ("somewhat walkable"), a Bike Score of 69 and a Transit Score of 28 (Walk Score). Areas closer to downtown are generally more walkable than the city's edges.
City trail information: City of San Luis Obispo Trail System.
Other SLO areas
North SLO
4 projects · ZIP 93405
Open →West SLO
2 projects · ZIP 93405
Open →South Higuera
3 projects · ZIP 93401
Open →Airport Area
15 projects · ZIP 93401
Open →East SLO
9 projects · ZIP 93401
Open →Sources
- City of San Luis Obispo: Current Development Projects map (retrieved October 8, 2026)
- Redfin: 93401 housing market
- San Luis Coastal Unified School District: Our schools
- City of San Luis Obispo Trail System
- Walk Score: San Luis Obispo
Project details and stages come from the City's public map and can change quickly; contact City Community Development (805-781-7170) for the latest on a specific project. Area boundaries here are general guides, not official neighborhood lines. Market data are estimates from Redfin.