ALBUQUERQUE, N.M. — Two long-standing affordable housing communities in Albuquerque are getting a new lease on life.
The Albuquerque Housing Authority and Housing New Mexico celebrated the grand reopening of the Veranda Housing Community and La Plata Housing Community on Wednesday, marking the completion of extensive renovations aimed at preserving affordable housing for low-income families.
Together, the projects represent nearly $28 million in housing investments and add 67 renovated affordable housing units to Albuquerque’s housing inventory.
The Veranda Housing Community, located at 9000 Veranda, includes 35 units and underwent approximately $15.3 million in improvements. The redevelopment features upgraded community spaces, playgrounds, community gardens, and drought-tolerant landscaping.
Meanwhile, the La Plata Housing Community near 120 La Plata includes 32 units and received approximately $12.6 million in upgrades. Improvements include modernized units, washer and dryer hookups, patio spaces, storage units, playgrounds, and an upgraded community center.
Funding for both projects included federal housing tax credits and loans through the National Housing Trust Fund, administered by Housing New Mexico.
Officials say the properties will remain income-restricted and serve households earning between 30%, 50%, and 60% of the Area Median Income, helping provide affordable housing options for families facing rising housing costs.
Housing leaders say both communities had not seen significant upgrades in decades and that the renovations are part of a broader effort to preserve existing affordable housing while addressing New Mexico’s growing housing shortage.
The two projects are among 62 multifamily housing developments currently underway across New Mexico through Housing New Mexico, representing more than 5,500 housing units and hundreds of millions of dollars in investment statewide.
