US EditionLincoln Avenue Begins 240-Unit Affordable Housing Project in Santa Fe ...
- Lincoln Avenue Communities hosted a groundbreaking ceremony on June 5, 2025, for the Cresta Ranch Apartments in Santa Fe, New Mexico.
- Construction began in January 2025 to address Santa Fe’s urgent need for affordable housing amid rising prices that risk pricing out local families.
- Cresta Ranch will feature 240 two- and three-bedroom units across 10 buildings with amenities like a fitness center, yoga studio, playgrounds, and community rooms.
- The project’s funding is comprised of a $4 million loan from the New Mexico Housing Trust Fund, $35 million in tax-exempt bonds, federal Low Income Housing Tax Credits, and $1.32 million in gap financing; the housing units will be available to individuals and families with incomes at or below 60% of the median income level for residents of Santa Fe County, according to LAC Vice President Ben Taylor.
- LAC expects to begin leasing the first units in summer 2026, which will support durable housing solutions for lower-income residents and fulfill LAC’s mission across multiple states.
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Lincoln Avenue Communities Breaks Ground on Affordable Housing Development in New Mexico
Governor Michelle Lujan Grisham and other local officials joined LAC to celebrate Santa Fe County's first multi-family and affordable development. SANTA FE, N.M., June 5, 2025 /PRNewswire/ -- Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, hosted a groundbreaking ceremony last week at the future site of Cresta Ranch Apartments, a new development that will provide 240 units of affordable housing to…
·New York, United States
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