Investing in Affordable Homes for Albuquerque-Area Families
As part of the state’s $120 million investment in housing and homelessness solutions, the Office of Housing is partnering with Bernalillo County to deliver new housing opportunities that strengthen neighborhoods and expand affordability for families and individuals across the Albuquerque metro area. Through this partnership, the state is supporting six housing construction projects that together will create 710 new homes serving a range of income levels—from deeply affordable units for those most in need to mixed-income developments that support workforce housing.
SombrA del Oeste Housing Project
In Progress
Total Investment: $1.5 million
Number of Units: 14
Affordability: Up to 80% of area median income (affordable to moderate-income families) | Perpetual affordability
About the Project:
This small-scale infill development will create 14 permanently affordable homes in the Albuquerque area. The project increases long-term housing stability for working families and contributes to neighborhood revitalization.
Tierra Linda Housing Project
In Progress
Total Investment: $6 million
Number of Units: 240
Affordability: Up to 60% of area median income (affordable to low-income households) | 30-year affordability
About the Project:
Tierra Linda will add 240 new affordable apartments in southwest Albuquerque for households earning up to 60% of the local median income. The project expands access to safe, quality housing near transit and employment centers.
Wells Fargo Building Housing Project
In Progress
Total Investment: $10 million
Number of Units: 100
Affordability: Up to 70% of area median income (affordable to working families) | 30 year affordability
About the Project:
An adaptive-reuse project in downtown Albuquerque converting the former Wells Fargo office building into 100 affordable apartments. This investment supports downtown revitalization while providing new homes for working Burqueños.
West Mesa Ridge A Housing Project
In Progress
Total Investment: $3.5 million
Number of Units: 128
Affordability: 30–80% of area median income (affordable to very low- through moderate-income households) | 30-year affordability
About the Project:
Located on Albuquerque’s Westside, West Mesa Ridge A will deliver 128 mixed-income housing units serving a broad range of households. The development promotes economic diversity and community growth.
West Mesa Ridge B Housing Project
Planning Phase
Total Investment: $10 million
Number of Units: 144
Affordability: 30–80% of area median income (affordable to very low- through moderate-income households) | 30-year affordability
About the Project:
A companion project to West Mesa Ridge A, this second phase adds 144 additional homes, expanding affordable and workforce housing capacity in Bernalillo County.
Poblana Place Housing Project
Complete
Total Investment: $17.85 million
Number of Units: 84
Affordability: Below 30% of area median income (deeply affordable housing for very low-income residents) | Perpetual affordability
About the Project:
Poblana Place will provide deeply affordable housing for families most at risk of homelessness. With long-term affordability secured in perpetuity, the project ensures lasting stability and opportunity for residents.
Cottages at 161 Chama
In Progress
Total Investment: $1,800,000
Number of Units: 20
Affordability: Individuals earning 50% or less of the Area Median Income (AMI)
About the Project:
400-600 square foot cottage homes that will serve low-income families and those transitioning out of poverty.
Uptown Connect
In Progress
Total Investment: $1,000,000
Number of Units: 203
Affordability: Affordability tiers from 30-80% of Area Median Income (AMI) | 20 year affordability
About the Project:
Development of affordable multifamily housing within a mixed use development close to transit and shopping in the Uptown area of Albuquerque.
Understanding Measures of Affordability
The affordability of housing is often measured by Area Median Income (AMI)—the midpoint of household income for a region.
- 30% of AMI generally reflects very low-income households (for example, individuals or families earning roughly $20,000–$25,000 per year in Bernalillo County).
- 60% of AMI reflects low-income households, often earning between $35,000–$45,000 per year.
- 80% of AMI reflects moderate-income households, such as teachers, health aides, and service workers earning around $55,000–$60,000 per year.
Projects that list a specific “period of affordability” (for example, 20-year affordability) must remain affordable for that length of time under the terms of their state funding. That means rents or sale prices are limited to stay affordable to households within the income range listed, helping ensure that state investments provide long-term housing stability rather than short-term relief.
All projects are designed so that residents pay no more than 30% of their income on housing costs, ensuring affordability and stability for New Mexicans across income levels.