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Bonds Approved for Two Apartment Complex Projects

09/25/2019

County commissioners approved project revenue bonds for two Section 8 and Housing and Urban Development (HUD) apartment complexes.

The Sandia Vista Apartments, located at 901 Tramway Blvd NE has 138 workforce housing units.

Plaza David Chavez Apartments, located at 2821 Mountain Rd NW has 75 workforce housing units.

“With these apartments, the county is assisting all income levels in our city and providing quality affordable housing to those who qualify,” says County Commission Vice Chair Debbie O’Malley.

The bond approval will make up to $25.5 million available for construction of both projects.

“Sandia Vista is located just north of I-40 and is accessible to everything the city has to offer,” says County Commissioner Charlene Pyskoty. “I'm proud to support affordable housing that contributes to positive growth in our community.”

Project revenue bonds are privately funded bonds through the multi-family housing act that are only available to fund workforce housing projects and allow certain tax exemptions.

The project revenue bonds were approved by unanimous vote at last night’s County Commission meeting.

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