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BernCo Commission Approves Bonds for New Affordable Housing Apartment Complex

02/13/2018

The Bernalillo County Commission has approved the issuance of project revenue bonds (PRB) to fund a new 240-unit family housing complex for southwest Albuquerque near Atrisco Heritage High School.

DBG properties received commission approval for $23 million in PRBs for the construction of the Valle de Atrisco affordable housing apartment complex on Dennis Cahvez Blvd between 98th and 118th streets.

“Part of the bond money will be used for land acquisition, construction and equipping the new apartments,” says Commission Chair Steven Michael Quezada. “These apartments will be offered to tenants who meet specific government lower income guidelines.”

The project will consist of 120 one bedroom units, 72 two bedroom units, and 48 three bedroom units.

The bonds for the Valle de Atrisco Family Apartments will be funded by private investors and with low income housing tax credits from the New Mexico Mortgage Finance Authority. DBG will be responsible for payment directly to bondholders and will pay an annual administration fee to the county.

 

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