Homewise, a New Mexico nonprofit that helps people become homebuyers, has purchased the Orpheum Theater Building at Second and Coal for its Albuquerque headquarters.
The 119-year-old building, which once housed one of New Mexico’s first movie theaters, is now used as a performance and art studio space with some affordable housing units.
Homewise partnered with New Mexico Bank & Trust to finance the building purchase. The group is now launching a $2 million capital campaign to fund renovation and rehabilitation. The Albuquerque Community Foundation has committed $250,000 toward the effort, according to a news release.