Renovation project aims to preserve affordable housing in Albuquerque’s International District

For Roger Valdez, director of the Center for Housing Economics, creating affordable housing in Albuquerque isn’t just about constructing new buildings — it’s about extending the lifespan of existing ones.

“Part of the urgent problem we have here is that a lot of buildings that are affordable are affordable because the landlord or housing provider has a challenge in actually making repairs,” Valdez said.

When a property finally reaches a state where it can’t operate without the repairs, the landlord often has to raise rents to pay for the improvements, Valdez said.

That’s why Valdez, state lawmakers and other housing organizations are supporting a project that will renovate and rehabilitate a more-than-60-year-old apartment complex in the International District at 609 Chama SE.

Duke City Property Investments, the contractor for the project, will refresh the complex’s seven units with remodeled bathrooms and kitchens. The building as a whole will receive a new roof, windows and other exterior improvements. Construction work began Monday, coinciding with a groundbreaking celebration.

“Our vision is to provide safe, affordable housing and pathways to home ownership,” said Jesse Harden, pastor of New Creation Albuquerque.

New Creation Albuquerque is the owner of 609 Chama SE and a faith-based organization that launched the city’s first safe outdoor space earlier this year.

The organization, which has a church in the International District, purchased the complex just before the COVID-19 pandemic. Harden, who also lives in the neighborhood, said New Creation’s desire to see the International District flourish fueled the decision to acquire the property.

The project’s funding comes from a $278,529 grant from state-backed affordable housing agency Housing New Mexico, also known as the New Mexico Mortgage Finance Authority, and $364,457 in capital outlay approved by state legislators earlier this year.

“The idea is to take this state money and make those repairs now so that the building gets repaired but the rent (doesn’t) go up,” Valdez said. “It extends the life of the building and extends the affordability.”

A Land Use Restriction Agreement, a legal contract between a property owner and a government entity or developer, guarantees the building will remain affordable by placing certain limitations on the use of the property. Valdez said the LURA established for 609 Chama SE ensures the property will be affordable for the next 20 years.

The Center for Housing Economics, a New Mexico-based housing advocacy organization, lobbied for the project funds.

“Our job is to show policymakers how efficiency is compassionate and how when we make things more efficient in the housing world, it helps more people, more deeply for longer periods,” Valdez said.

The project will also put more money into residents’ pockets through saved energy costs, Valdez said. The project funds will also go toward installing solar power, electric water heaters and energy-efficient refrigerators — helping residents pay less for utilities and save roughly $130 per month.

Six-year tenant Julie Hays, who pays $550 per month for a two-bedroom apartment, said she’s looking forward to the new windows and kitchen. She said it is reassuring to know the rent won’t go up and she’ll be able to save more in the coming months.

“I’m excited about that,” Hays said.

Work on the project is expected to finish during the first quarter of next year, and the budget also allows for temporary relocation of residents if needed in the meantime, Valdez said.

“It’s local money — New Mexico money — serving New Mexicans very quickly and making their lives better,” Valdez said. “Let’s do more of this.”