City of Albuquerque buys hotel to convert into 100 affordable apartments
The City of Albuquerque has finalized the purchase of a hotel that it will convert into 100 units of affordable housing for low- and moderate-income households.
Albuquerque City announced last week that it had finalized its purchase of an hotel, which it plans to convert into affordable housing units for households with low and moderate incomes.
The SureStay Hotel located on Eubank Boulevard Northeast and Lomas Boulevard Northeast will be converted into one-bedroom and efficiency apartments.
In a statement prepared in advance, Gov. Michelle Lujan Grisham expressed her pride in awarding almost $3 million to the project via the Casa Connections grant.
In a press release, Lujan Grisham stated that "we are working together with the City and Partners of Albuquerque to ensure more New Mexicans will have a home."
The City of Covid federal funding related to Covid funded the other half.
The partnership between the city and state ensures that the City has adequate funds to convert the property.
Albuquerque mayor Tim Keller stated in a press release that "safe and stable housing is a foundation on which individuals and their families build their lives." "When we invest affordable housing, our communities' future is secured."
After the project is completed, a services coordinator on site will connect future residents with resources.
The project will increase the number of affordable housing units in the City by 20%. Housing Forward ABQ, an initiative that aims to increase housing supply and accessibility in Albuquerque, includes converting underutilized hotels and motels into housing.
This initiative includes changes in zoning to promote development and increase the housing workforce. The architect for the project is SMPC Architects, based in Albuquerque. The request for proposals (RFP) to hire an on-call contractor was closed last week. It is currently being reviewed.