Mayor Keller Highlights “ABQ at Home” Initiative

City addressing tightening housing market with four-pronged approach totaling nearly $550 million in investments and leveraged funds

Sept. 14, 2021

Today, Mayor Tim Keller and City leaders discussed “ABQ at Home,” highlighting a four-pronged approach to helping Albuquerque residents get into and stay in their homes. As a housing shortage continues across the country, the City of Albuquerque is developing more housing units, providing support for those who need help getting into a home, and assisting with costly home repairs to keep families in their homes. Over the past four years, the City has invested and leveraged nearly $550 million for housing.

“Every family deserves a safe and secure place to call home but we know that especially after the pandemic, that is getting harder to find,” said Mayor Tim Keller. “We have made historic investments in affordable housing support and solutions for the unhoused. Now, we are doubling down with more opportunities for families to find and keep a place to live.”

ABQ at Home covers four categories of housing support:

    • Affordable Housing
    • Supportive Housing Vouchers
    • Market Rate Housing
    • Home Rehabilitation “Neighborhood Opportunity Grants”

“Keeping families in their homes is very important to me,” said Councilor Klarissa Peña.  “The four-pronged approach will be the catalyst to ensure that families will be able to stay together in their own homes.”

Since 2018, the City has invested $18 million into affordable housing projects, creating 385 physical rental units either through new construction or acquisition and rehabilitation. Another $17 million was invested to develop 287 more affordable housing units. With these investments, the City has leveraged $235 million in funding from HUD, Workforce Housing Trust Fund, and others for affordable housing.

City funding for supportive housing vouchers has increased by 73% since 2018 to over $11 million in FY22. The Department of Family & Community Services (FCS) works with community partners to administer the vouchers and estimates that 1,000 households will receive support through this program in FY22.

“Under Mayor Keller, the City has expanded its investments in proven solutions to homelessness, such as supportive housing,” said Lisa Huval, Deputy Director of Housing and Homelessness. “The City will continue to leverage funding to create more supportive, affordable, and market rate housing, as well as aiding in home rehabilitation to keep people safely housed.”

The housing shortage is not limited to housing for low to moderate-income residents and the City of Albuquerque’s Metropolitan Redevelopment Agency (MRA) is working to develop more market rate housing. Throughout the pandemic, there has been a need for more housing for people moving to Albuquerque. MRA has invested $141 million to support projects to create almost 600 new housing units since 2018 and has another $102 million to create 500 more planned.

“There is a strong demand for housing in Albuquerque right now due to recent economic development announcements resulting in thousands of jobs, coupled with low interest rates,” said Karen Iverson, MRA Manager. “We are taking action by increasing supply, partnering on 590 housing units since 2018, and bringing another 500 online.”

FCS is also set to receive $3.3 million in ARPA funding for home rehabilitation grants. The City will give “Neighborhood Opportunity Grants” to low to moderate-income households to make repairs in their current homes. More information on these grants will be available as the City gets closer to opening applications for the program.