Inexpensive Housing Opens in Southeast Heights, Albuquerque Journal
ALBUQUERQUE, NM – An affordable housing project in Albuquerques Southeast Heights that has been operational since 2015 and officially opened on Thursday.
Described as a sophisticated urban infill location, the 89-unit Casa Feliz apartment complex is a $ 17.2 million redevelopment project funded from four sources. The majority came from low-income tax credits from the New Mexico Mortgage Finance Authority of $ 12.5 million.
City support for the project, which is located in the International District, includes $ 2.8 million from the Affordable Housing Fund. The New Mexico Housing Trust Fund raised $ 1.5 million and $ 400,000 was raised through the Ventana Fund, a nonprofit managed by MFA.
The development, located at 443 Española Street SE, consists of efficient one, two and three bedroom apartments. Casa Feliz is reserved for families and individuals earning 30 to 60 percent of the median household income for the region of $ 48,900. Twenty percent of the units are reserved for people with special needs.
Development partners and funders at Thursday’s inauguration ceremony hailed the completion of construction, saying projects like Casa Feliz are helping to revitalize Albuquerque’s neighborhoods.
The developer was Greater Albuquerque Housing Partnership, Inc., a non-profit organization in the metropolitan region that builds and owns affordable housing. The project architect was Hartman & Majewski Design Group and the general contractor was Tofel Construction. Casa Feliz is managed by Monarch Properties.
“Building high quality, affordable housing on 10 vacant lots on Grove, Espanola and San Pablo Streets has dramatically changed the neighborhood,” said Felipe Rael, GAHP Executive Director. “We worked on adapting the size and character of the area. We were aware of the building heights and adjusted the depth of the front of the buildings to suit our neighbors. “
The 5.3 hectare Casa Feliz project complements the existing 68-unit project Plaza Feliz, which was built by GAHP in 2012.