Los Altos Lofts Renovated and Ready for Renters

ALBUQUERQUE —This week marks a significant milestone for affordable housing in the Duke City. All 90 units at Los Altos Lofts, a former hotel that was converted to permanent housing, are complete. Monarch Properties, the City of Albuquerque’s property manager, is now accepting applications.

49 units were previously opened in May, and the 41 additional units are now available. This marks the completion of the city’s first hotel/motel conversion project, a key component of the Housing Forward Initiative.

View video and photos of Los Altos Lofts.

The City purchased the property on Hotel Avenue, near Lomas and Eubank, in April 2023 and immediately began work converting the 104 hotel rooms into 90 efficiency and one-bedroom apartments. Rents at Los Altos Lofts are affordable, meaning units will be available to people making as much as 80% of the area's median income. Additionally, residents can apply for Project-Based Vouchers, which are available based on income. If residents qualify, only 30% of their income would go towards their rent, and the voucher would cover the remaining cost.

“Completing Los Altos Lofts is a step in the right direction, but we’re not done,” said Mayor Tim Keller. “We will continue leveraging every dollar available and exploring all possible options to build more affordable housing and motels into affordable housing.”

“Monarch Properties is pleased to have worked hand in hand with the City of Albuquerque to bring Los Altos Lofts to fruition.  This unique, beautiful, and affordable community is just the latest way Albuquerque is truly focused on providing affordable quality rental housing.  We’re very proud to be a part of this process as we cross the finish line,” said Jack MacGillivray, Vice President

“These final renovations to Los Altos Lofts are a major milestone for our city,” said Health, Housing and Homelessness Director Gilbert Ramirez.  “This project will serve as a model for future hotel conversions as we continue exploring new opportunities to build and add more affordable housing inventory.”

Minor renovations are currently being made to the indoor pool, which should be available for residents to use within the next month.

Those interested in applying to rent at Los Altos Lofts can do so in person. Interested applicants are encouraged to schedule an appointment by calling Monarch Properties at: 505-548-6054