On Oct. 8th, voters have the opportunity to continue the city’s investment in workforce housing by voting “yes” for Measure 10. It is a sound financial investment with proven community benefits.
The first reason to vote “yes” for Measure 10 is to support economic growth. Workforce housing, produced through general obligation bond funding, has helped to strengthen Albuquerque’s economic recovery, create badly needed construction jobs and maintain employment. Over the past seven years, according to City’s 2012 report on the Workforce Housing, the program has
• Created nearly 1,000 construction jobs and 460 other non-construction jobs.
• Generated over $7.7 million in local and state gross receipts revenue to support public services.
• Produced over $43 million in additional local economic growth.
• Leveraged nearly $85 million in additional investments.
Since 2007, 15 developments have received workforce Housing Trust Fund dollars. Those 15 developments have created over 600 affordable homes in mixed income developments; 400 homes are already occupied with the remainder presently under construction.
Every unit of workforce housing is financed through public-private partnerships, leveraging every Housing Trust Fund dollar four times. Thus, the city’s modest investment in workforce housing serves as a catalyst for private investment.
The second reason to vote “yes” on Measure 10 is to support the physical quality and vitality their development brings to the community.
Several workforce housing developments have merited national and state recognition for their design excellence and contribution to the community. The Sawmill Community Land Trust, New Life Homes, the Supportive Housing Coalition, and Yes Housing have all received state design awards for their developments financed in part through the workforce housing program.
Two projects are adaptive reuses of blighted structures including the historic Route 66 Luna Lodge and Sundowner Motel. Eight other developments are built or under construction on vacant or blighted infill sites. The redevelopment of these sites is helping to revitalize Albuquerque’s older neighborhoods.
The third reason to vote “yes” on Measure 10 is to provide a path for a secure future for veterans, seniors and working families. Many of our teachers, police officers, fire fighters, veterans and grandparents struggle to pay for housing while supporting their families. Those who are occupants of workforce housing developments live more stable and productive lives.
Your “yes” vote for Measure 10 is a vote for continued economic growth, quality of life and a path for a secure future for veterans, seniors and working families. Cast your vote in support of workforce housing on Oct. 8th.
Also signed by Krishna Reddy of Global Structures, a subsidiary of Jaynes Corp.; and Lisa Huval of the N.M. Coalition to End Homelessnesss.