ABQ Times

The City of Albuquerque has announced a new funding opportunity aimed at creating affordable housing through the conversion of hotel and office buildings in and around the International District. Mayor Tim Keller expressed the city's commitment to affordable housing, stating, “We’re putting our money where our mouth is to make sure we’re creating housing for Albuquerque families.”

The Request for Proposals (RFP) offers up to $4 million dollars to support housing projects that add affordable units in key Metropolitan Redevelopment Areas. District 6 Councilor Nichole Rodgers emphasized the importance of this funding, saying, “Adding more available housing units is a top priority and this funding allows us to work collaboratively with our partners to bring them online faster.”

District 9 Councilor Renee Grout highlighted the potential impact of converting commercial buildings, stating, “When done right, conversions of commercial buildings can turn a neighborhood around.” The program aims to evaluate developer proposals for blighted properties and ensure they benefit the community while adding to the city's affordable housing stock.

Joseph Montoya, Deputy Director of Housing, emphasized the collaborative nature of the RFP, stating, “This RFP is the first time we’re joining forces with our colleagues in MRA to leverage both of our departments’ resources for affordable housing.” Terry Brunner, MRA Director, reiterated the commitment to addressing Albuquerque's housing needs, stating, “Through this funding opportunity, we're encouraging property owners and developers to play a crucial role in expanding housing options.”

The RFP is part of the Albuquerque Housing Forward initiative, aimed at increasing housing supply and access for all. It builds upon zoning changes passed in 2023 to make hotel and office conversions easier and more cost-effective for developers. Proposals for the funding opportunity will be accepted until April 24, 2024, and can be viewed and submitted on MRA's webpage.