City Leaders, Community Partners Cut the Ribbon on Major Mixed-Use Development to Boost Housing in Southwest Albuquerque

Mayor Tim Keller joined District 3 City Councilor Klarissa Pena, District 1 City Councilor Lan Sena, YES Housing, Inc, and the Mortgage Finance Authority (MFA) to celebrate a much-needed boost to housing in Southwest Albuquerque with the completion of the Nuevo Atrisco Mixed-Use Development project.

The Keller administration’s Metropolitan Redevelopment Agency (MRA) initiated the redevelopment of the 6.6-acre city-owned site at the corner of Unser and Central, awarding YES Housing, Inc. and Maestas Ward Development a contract to deliver affordable rental housing and commercial/retail space.

Nuevo Atrisco is a transformative public-private partnership with more than 30,000 square feet of office, restaurant and retail space. Phase I includes an 86-unit smoke free and pet-friendly apartment community with a 20,000 square foot plaza and a community event epicenter. This affordable Westside housing option is designed for families and offers one, two and three bedroom floor plans with energy efficient apartments, with 68 affordable units and 12 market rate units, as defined by the U.S. Department of Housing and Urban Development.

The project received significant public investment, including nearly $3 million from the City’s Workforce Housing Trust Fund (WHTF) and MRA, a $10 million MFA tax credit, and nearly $3 million in MFA grants and loans. The City also contributed the land for the project. Use of the WHTF ensures units will remain affordable in perpetuity. According to the City’s 2020 Albuquerque Affordable Housing and Homelessness Needs Assessment from the Urban Institute, the City needs to add 15,000 affordable units to meet the demand for Albuquerque households with extremely low incomes and Nuevo Atrisco directly addresses that need by adding 24 units for extremely low incomes.  

“We’re putting public dollars to work to get job-creating projects across the finish line. Nuevo Atrisco adds needed housing and commercial space to one of the city’s fastest-growing neighborhoods—a location directly on one of our biggest transit routes and within walking distance of services like libraries and health centers,” said Mayor Tim Keller.

Phase II, which will fund the commercial corner of the development, will include $1.9 million in City of Albuquerque General Obligation bond investment.

Located at the northwest corner of Unser Blvd. NW and Central Ave. NW, Nuevo Atrisco is conveniently located and has easy access to I-40 and is within walking distance of the Central/Unser Transit Center (CUTC), where a short commute along Route 66 will bring you to historic Old Town, Downtown, Nob Hill and the International District. Nuevo Atrisco is adjacent to the Central and Unser Library and UNM Southwest Mesa Center for Family and Community Health.  Across the street is continued private commercial services.

“This is an exciting day for Albuquerque’s Westside,” said Councilor Sena. “The residents, elected officials and partners of the project have worked tirelessly to make this much needed development come to fruition – a project that will help bring a work-life balance to the community and add to the amenities so close to the transit station for others to use when visiting the Westside.”

“I am excited to see this long-term community led project come to fruition for Albuquerque’s Westside,” said Councilor Peña. "Thank you to Chris Baca and the rest of the team at Yes Housing for keeping their commitment to provide a quality affordable housing development in our community.  And to SWAN and WCCDG for their vision to revitalize West Central." 

“I am happy to support the administration, Councilor Sena and Councilor Pena in producing a mixed use development for the southwest mesa.” Said City Council President Cynthia Borrego.

“I am proud to have been a part of making this project happen, which could become the cornerstone of this vibrant and growing community.” Said Senator Michael Padilla

“You can see how beautiful this complex is, the availability of public transit right next door, the UNM medical clinic, the newest City library, all the new construction that is taking place on this corridor.” Said YES Housing Inc. CEO Chris Baca. “None of this would be possible without the assistance of the City through its departments, Family and Community Services and the Metropolitan Redevelopment Administration; the City Council through the efforts of the late Ken Sánchez, and Councilors Sena and Peña and, of course. Mayor Tim Keller who’s always been such a strong advocate for revitalizing projects like Nuevo Atrisco.”

“A home is more than four walls and a roof,” said New Mexico Mortgage Finance Authority Director Izzy Hernandez. “Building new facilities where you can work, shop and live side by side are the components necessary to for a thriving and helpful community.”

“This is a total collaboration. This is effective collaboration between public and private entities,” said Maestas Development Group CEO Steve Maestas. “This is a privilege for me and my team to be a part of this project.”

The Nuevo Atrisco apartment community is a $17 million public-private partnership involving The City of Albuquerque (CABQ), the MFA, Wells Fargo, YES Housing, Inc. and the Maestas Development Group.