ALBUQUERQUE, N.M. (AP) — The New Mexico Mortgage Finance Authority has approved more than $74 million for eight housing developments in six communities around the state.
The funding comes through the federal low-income housing tax credit program. Officials said the projects will result in more than 260 new apartments in Sunland Park, Mescalero, Acoma Pueblo and Albuquerque.
Another 202 apartments will be renovated in Los Lunas and Albuquerque. In addition to providing much-needed housing in the communities, officials said construction activity from the developments is expected to generate $33 million in income for the communities and support hundreds of jobs.