By Rodd Cayton
Albuquerque City Councilors are continuing to try to reduce a housing shortage in the city that has reached the level of thousands of units.
Monday night, the council approved more than $9 million for the Somos and Farolito Senior Community housing developments as construction costs increase.
Most of the money, $6.1 million, is going toward Somos, to be built near Central Avenue and Louisiana Boulevard. The mixed-use and mixed-income housing/commercial space project will create 70 new housing units, including 59 units of affordable housing.
The council directed $1 million in American Rescue Plan Act (ARPA) money toward the project, along with $5.1 million from the U.S. Department of Housing and Urban Development.
The Farolito Senior Community, at Eubank Boulevard will also receive $3 million in ARPA cash. It will consist of 82 units for those 55 and older, with the units allocated for seniors of various income levels.
“We’re making strategic investments to confront Albuquerque’s housing crisis and deliver real solutions for families and seniors in need, including folks living on fixed incomes,” Mayor Tim Keller said in a statement released after the council vote. “These funds ensure that over 100 households will have access to safe, affordable housing.”
Joseph Montoya of the city’s Department of Health, Housing, and Homelessness said the new funding is expected to help offset ongoing increases in construction costs for both projects.
Felipe Rael, executive director of Sol Housing (formerly the Greater Albuquerque Housing Partnership), said the organization applied for additional funding in anticipation of construction increases. He said Farolito is under construction and Somos is “shovel-ready,” with construction set to begin next month.
Construction on Farolito is expected to be done in April 2026, with Somos completed next December.
Thanks Timmy, I hope you’re the mayor forever!