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Council approves multiple affordable‑housing actions: loans, grants and a land purchase to add units and lots
Summary
Council approved four agenda items to support affordable housing: a $6 million Peachtree Canyon loan for 144 low‑income units, a $1.4 million grant to Tierra del Sol for 32 lots (Skylark), a $300,000 grant to Padrina Senior Apartments (80 units), and purchase of a 52‑lot subdivision for $3.25 million.
The Las Cruces City Council voted on Aug. 4 to approve a package of affordable‑housing measures that together advance several projects in construction or development and add both rental units and homeownership lots.
Why it matters: The measures are part of a sustained municipal push to expand affordable supply across housing types — multi‑family rental (including senior housing) and single‑family lots for affordable ownership — and to align local funding with state and federal investments such as low‑income housing tax credits (LIHTC).
Key approvals at the meeting: - A $6,000,000, 20‑year residual‑receipts loan to Peachtree Canyon Apartments (resolution 26‑019) to fund phase 2 of the development. Phase 2 will add 144 units (one‑, two‑ and three‑bedroom) serving households at or below 60% of area median income (AMI). Staff said phase 1 is under construction and phase 2 was expected to break ground in early September; the developer partners include Thomas Development Group and New Mexico Community Housing Development Corporation. - A grant agreement of up to $1,400,000 to Tierra del Sol Housing Corporation (resolution 26‑020) to support infrastructure for the Skylark subdivision, which will create 32 lots for affordable single‑family homeownership; the project deadline in the agreement requires completion by June 30, 2026. - A $300,000 passthrough grant for Padrina Senior Apartments (resolution 26‑021), an 80‑unit LIHTC senior rental project (55+), with units serving households at 60% AMI; staff said the building is nearly ready for occupancy. - Approval of a real‑estate purchase agreement (resolution 26‑022) to buy an approximately 11.797‑acre parcel to be developed as a 52‑lot subdivision. The council approved a negotiated purchase price of $3,250,000 (the parties will split closing costs) to add lots to the city’s affordable‑housing land bank.
Councilors asked about income targets and foreclosure risk. Staff said most of the announced rental projects limit occupancy to households at or below 60% AMI (staff gave an illustrative 60% AMI figure for a four‑person household of $42,420). Housing staff reported historically low foreclosure rates for city‑supported homeownership programs and said the projects include land‑use restrictions and mortgage filings to preserve long‑term affordability.
All four measures passed by roll call vote.
