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Council approves sale of A‑8A parcel to developer for 380‑unit mixed‑income project
Summary
County sold the A‑8A parcel to Servitas LLC for $5.5 million; the proposal includes 380 multifamily units (260 market‑rate, 120 deed‑restricted at 60%–100% AMI on average 80% AMI). Council approved the sale unanimously.
Los Alamos County Council unanimously approved Ordinance 746 on Sept. 30 to sell the county‑owned A‑8A parcel (east of Trinity and DP Road) to Servitas LLC for development of a 380‑unit mixed‑income housing project.
County Housing Special Projects Manager Dan Osborne told council the 22‑acre parcel is about 84% developable and was cleared for residential use after a 2023 solid‑waste assessment found no unacceptable human‑health or ecological risk. Under the council action the developer will pay $5.5 million to acquire the land and provide a $55,000 earnest deposit; the appraised value was cited at $5.25 million.
Servitas’ proposal, presented by Garrett Sharpton, calls for 380 multifamily units: 260 market‑rate units and 120 deed‑restricted units targeted to households earning between 60% and 100% of the area median income (AMI) with an average of about 80% AMI. The county’s investment to secure permanent rent restrictions on 88 units will be $5.5 million; an additional 32 deed‑restricted units will be secured as reimbursable predevelopment work up to $2.0 million. The council packet described the county’s total investment for deed restrictions as $7.5 million.
Project financing the developer reported includes roughly $196 million in total development costs with about $141 million in construction costs; the county’s finance analysis estimated roughly $5 million in gross‑receipts tax (GRT) revenue to the county from project construction.
Lauren McDaniel, executive director of the Los Alamos Commerce and Development Corporation, told council the project advances workforce housing and downtown revitalization goals and avoids a county land subsidy by selling the parcel at market price. Some residents urged caution about the pace of development; Deborah Bransford said speed of multiple projects in town raised questions for her.
Councilor Neil Clinton moved approval and Councilor Herman seconded. The ordinance passed on a roll call vote of 7‑0.
Next steps include Servitas seeking final site plan approval and the county and developer moving into due diligence and permitting; the developer said the project will be delivered in phases with first occupancies targeted about 16–18 months after construction begins and a full buildout timeline of roughly 30 months for construction.
