Reasonably priced Senior Housing Deliberate for New Mexico Belief Land, »Albuquerque Journal
State officials say a tainted package along historic Route 66 in Albuquerque will be the new home of an affordable senior housing project.
State Land Commissioner Stephanie Garcia Richard has signed a lease for the state trustee land that enables a subsidiary of the Greater Albuquerque Housing Partnership to advance the project near Central and Eubank. The four-story senior living space will consist of more than 90 low-rent units.
The housing partnership won an auction for Treuhandland earlier this year. To support the project, the partnership received low-income residential property tax credits through the New Mexico Mortgage Finance Authority.
Officials say the Luminaria Senior Community will be a catalyst in redeveloping the area along Central Avenue. It will be the only senior housing within half a mile of Albuquerque’s Manzano Mesa Multigenerational Center, one of two multigenerational centers in the city.
“By working with Luminaria and partners, we will help serve a growing population in need of affordable housing, with the added benefit of increasing revenue for beneficiaries of our state trust land,” said Richard Garcia in one Statement.
Officials said the lease could serve as a template for future affordable housing developments on state trust land across New Mexico.
Luminaria offers on-site social services, hiking trails and flexible fitness rooms.
Construction is expected to start next month.