SANTA FE, N.M. — A new housing development not far from Santa Fe’s burgeoning Rufina Arts District is offering “attainably-priced” single-family homes with plans to later offer live/work spaces directed toward creatives.
El Camino Crossing, north Siler Road near Agua Fria, opens this weekend. The project is headed by housing nonprofit Homewise. According to CEO Mike Loftin, it currently includes 40 homes and spots for two restaurants.
A Wednesday news release said the homes range from a 1-bedroom, 1-bath for $199,000 and a four-bedroom, 2-bath for $289,000. In the Santa Fe Association of Realtors’ last quarterly report of 2017, the city’s median home price was $338,428.
Some of the homes include a detached structure that could be a garage, work space or art studio depending on what the buyer needs, Loftin said.
Homewise’s website touts El Camino Crossing’s location, between Siler and Harrison Road, as within walking distance of Meow Wolf, Duel Brewery and Make Santa Fe community workspace. Loftin said thip development is meant to be a home-ownership option near that growing arts and cultural area as well as for residents who want to live near the several bike and walking trails.
The project’s next phase is projected to include the two restaurants, 13 condos and about 20 live/work units “geared toward creative entrepreneurs who need affordable spaces to both live and work.”
The news release says buyers will be offered 30-year, fixed-rate financing options. Homewise’s plan is to break ground on those units later this year.
Loftin said El Camino Crossing’s intended demographic is millenial creatives and people who need to work out of their homes. While the assumption may be that this group wants to rent instead of buy, he said Homewise has received the opposite feedback.
“They’re aware that if you’re renting, you might get yourself priced out,” said Loftin. “If they can lock in that housing expense, that provides a lot of stability to grow your business and have a place to live.”
The development’s grand opening, taking place near the Agua Fria/Harrison intersection, is Saturday and Sunday from 10 a.m.-5 p.m.