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Commission introduces West Mesa Ridge B, a 144-unit affordable housing project
Summary
The commission approved the introduction of West Mesa Ridge B, a 144-unit 4% LIHTC affordable housing project; the developer will seek county tax-exemption under a project-revenue bond, and the project plans to use state gap funds administered by the county.
The Bernalillo County Commission on April 28 introduced West Mesa Ridge B, a 144-unit affordable housing development on the city's west side that will use 4% Low-Income Housing Tax Credits combined with state gap funding and a county tax exemption to reach financial feasibility.
Economic Development Director Marcos Gonzalez described the project as the companion to West Mesa Ridge A (128 units) and said the county's role would include a property-tax exemption for roughly 87% of the property-tax obligation over a 43-year term (the longer term reflects federal loan requirements), plus the county will receive an annual administrative fee estimated at $25,100 over the exemption term. Project partners are Chelsea Investments and YES Housing; construction is expected to begin in late 2026.
Commissioner Barbara moved approval to introduce the revenue-bond authorization; the commission seconded and passed the introduction. Because project revenue bonds and tax-exemption approvals have regulatory steps, final county approvals and related IGAs will follow the standard review period.
What happens next: the developer will seek tax-exempt bond financing, proceed through required public hearing and final-adoption steps, and county staff will return with required ordinances and agreements for final action.
