ALBUQUERQUE, N.M. (KRQE) – Plans to develop a new affordable housing community in Albuquerque for seniors is in the works. The plan is to build it on state trust lands. The city says there’s a need for affordable senior housing projects like this because of Albuquerque’s aging population.
Agnes Vallejos is the Department of Senior Affairs Strategic Program Manager. She explains, “As you know, rents are going up, and, you know, folks, particularly older adults are on fixed incomes. So they’re becoming more and more rent burdened, they might be even house burdened, where they might like to downsize their home and that, and it’s hard in this market to then buy a home that’s affordable.”
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In 2020, an aging population study found that 40% of Bernalillo County will be made up of older adults by 2030. The Greater Albuquerque Housing Partnership submitted an application to the State Land Office to develop the “Farolito Senior” project on more than two acres of state trust land.
The site location is proposed near the intersection of Central Avenue and Eubank Boulevard – helping to revitalize the east Central corridor. Stephanie Garcia Richard, the state’s Commissioner of Public Lands shared, “It’s incredibly accessible, incredibly walkable, part of Albuquerque and East Central. By establishing these anchor tenants, what that does is really bring, I believe, some stability, some sort of community to that essential, you know, part of the city.”
Just this past March, the Luminaria Senior Community, another affordable housing complex for people 55 and older, opened across from the proposed “Farolito” site. According to the application – “Farolito Senior” would consist of 80 to 90 affordable one and two bedroom units.
There will be a public meeting Thursday at 6PM at the Luminaria Senior Community, Community Room, 10600 Central Avenue SE, Albuquerque, NM 87123 or via Zoom.