I don't really know how it works. I talked to the coordinator of a hall and she said it might be possible for me to move if spaces open up in the spring from people going abroad or doing co-op/internships away from State College. I think it's a special case though since Simmons and Atherton are honors housing. If there's a specific SLO you want, I'd talk to the coordinator of that building. I've heard housing is a bureaucracy and it's hard to get what you want, but when I met with the coordinator of Atherton she was really helpful.
You can also check the room switch eboard on eliving to see if anyone is interested in moving into your area and then contact them about a switch.