Affordable Housing Boost in Albuquerque: Rep. Gabe Vasquez, Homewise Break Ground on 72 New Townhomes
ALBUQUERQUE, N.M. – On Thursday, October 24, U.S. Representative Gabe Vasquez (NM-02) celebrated the groundbreaking of Homewise Inc.’s first all-electric development project in Albuquerque. The project, consisting of 72 townhomes, marks a significant step forward in expanding affordable, high-quality housing opportunities for New Mexicans.
“Housing is a human right, and when we invest in homes, we invest in the health, well-being and future of our communities,” said Vasquez. “Homewise’s project is about more than just putting roofs over people’s heads—it’s about creating stability, dignity and a sense of belonging. Every family deserves that.”
The groundbreaking celebrates the construction of 72 townhomes, including 55 three-bedroom and 17 two-bedroom units. The project will meet the needs of first-time homebuyers with additional subsidies to assist low- and moderate-income families along with units at market-rate. The development also benefits from $500,000 in down payment assistance funding from the Mortgage Finance Authority and $550,000 in state capital outlay for infrastructure.
“At Homewise, we’ve seen first-hand that homeownership is the foundation for building stronger communities,” said Mike Loftin, CEO of Homewise. “We are proud to partner with U.S. Representative Gabe Vasquez to bring much-needed housing options to Albuquerque and support more families in achieving the dream of owning a home.”
Homewise, a nonprofit organization focused on housing access, is a leader in affordable housing initiatives across New Mexico, primarily in Santa Fe and Albuquerque. Their services include homebuyer education, mortgage lending and financial coaching, all aimed at helping families achieve homeownership. The townhomes are expected to begin construction by early summer 2025.
“We are excited to help individuals and families become homeowners by building new high quality starter homes that help meet the deep need for homeownership opportunities in Albuquerque,” said Lisa Huval, Senior Director of Real Estate Development at Homewise.
Vasquez also highlighted his efforts in Congress to address housing affordability. He is a champion of the HOME Act, which stops corporate landlords from price-gouging and taking advantage of renters and first-time buyers. He is also a leader in advancing the Family Stability and Opportunity Vouchers Act, which would create 250,000 new housing vouchers to help low-income families move to communities with better schools and opportunities. Vasquez is committed to working to create more affordable housing opportunities for hard-working New Mexicans.
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