To the extent that Albuquerque greatly needs a wide range of new housing to meet demands across a spectrum — small-to-large, low income-to-market rate — a proposed cottage development in the International District could fit the bill as well as any.
The location and target tenant is intentional — the International District is one of the most historically underserved, and in particular, in need of housing for those with low or extremely low incomes. The area is home to much of the city’s population who live paycheck to paycheck and teeter on the edge of experiencing homelessness.
Dubbed “161 Chama,” the development would consist of 21 cottages at about 500-square-feet each, charging rent of about $500 per month. The site is at 161 Chama St. NE, one block north of Central Avenue and one block east of Louisiana Boulevard, near Expo New Mexico.
“It’s a smaller size, but for folks transitioning out of poverty we think it’s a good size,” Roger Valdez, executive director of the Center for Housing Economics, said.
Valdez is the drive behind the project, along with John Bulten, the executive director of East Central Ministries. The pair want to show that an economical housing project can be built by leaning on local funds and private donations instead of federal sources.
“If you see what [President] Trump is doing at the federal level, we need to do this,” he said. “Our intention is to teach New Mexicans and local government, state government — take federal funds when it makes sense — but don’t rely on it. It’s more important now than ever because Trump could just cut it off.”
The Trump administration recently issued an order that froze federal funding for grants and programs — including some that involved housing. The order was soon rescinded after a federal judge blocked the plan, but not before causing disruptions and confusion.
Valdez said the land for 161 Chama — a little more than half an acre — has already been purchased with private money. He and Bulten are now asking lawmakers in Santa Fe to appropriate $1.5 million in capital outlay funds through Housing New Mexico | MFA (which would serve as the fiscal sponsor) to jumpstart construction. While the total project cost is expected to be about $2.7 million, Valdez thinks private contributions can be generated through the use of state income tax credits and rebates.
“Every dollar that someone contributes, they get 50 cents off their New Mexico state income tax,” Valdez said. “So if I give $1,000, I can reduce my state income tax by $500 bucks. It’s an incredible value for private contributors.”
Under the plan, contributors would also have the option to donate their tax credit back to the project.
“We can do it more efficiently, more cost effectively, and that means more money can be spent on other units and other projects, which means helping more people, ultimately,” Valdez said.
The partners hope a yearlong construction process can begin as early as July, with the idea that 161 Chama would serve as a proof of concept for other similarly-sized projects that can be replicated in the International District.
More on the Center for Housing Economics is here. For more on East Central Ministries, click here.