New Mexico housing officials have approved an investment in affordable housing that is expected to create and preserve hundreds of homes across the state. The Housing New Mexico Board of Directors recently authorized more than $7 million in Low-Income Housing Tax Credits and $16.3 million in loans.

Affordable Housing Projects

The tax credit awards are projected to generate more than $56 million in private equity, helping finance the construction of 194 new housing units and the rehabilitation of 39 existing homes. Several projects will serve seniors, veterans, farmworker families, and households with children.

Among the developments receiving support are new senior housing in Albuquerque and Taos, family-oriented communities in Deming and Bernalillo, and energy-efficiency upgrades for homes at the Pueblo of Laguna.

Original reporting: KOAT Albuquerque — read the source article.