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ALBUQUERQUE, N.M. – During its 2024 fiscal year, Housing New Mexico provided $737 million and impacted 18,981 people, families and homes through various housing-related programs and services throughout the state. From creating more housing to preserving existing affordable housing, and from creating stable housing environments to creating homeownership and wealth-building opportunities, the quasi-governmental entity served people across the state during its most recent fiscal year, which began Oct. 1, 2023 and ended Sept. 30, 2024.

Albuquerque resident Daniela Freamon recently became a homeowner thanks to one of Housing New Mexico’s mortgage programs. In fiscal year 2024, Housing New Mexico reached a milestone with $582.2 million in funding expended for down payment assistance and first mortgages. (Photo courtesy Daniela Freamon)

Fiscal year 2024 production highlights include:

  • $74,730,000 provided to produce 940 new homes
  • $16,830,000 provided to preserve 1,108 homes
  • $595,860,000 provided in first mortgage, down payment assistance, and mortgage assistance for 3,721 families
  • $49,550,000 provided for housing stability for 13,212 people and families
  • 18,981 people, families, and homes impacted
  • $736,970,000 in total funding administered

 

“Thanks to our many partners and dedicated staff, we were able to impact the lives of thousands of New Mexicans in 2024,” said Housing New Mexico Executive Director/CEO Isidoro Hernandez. “Our lending partners were instrumental in delivering a record $582.2 million in first mortgage financing and down payment assistance to New Mexico families. Our overall efforts resulted in $434 million in direct and indirect local impact and the creation of 5,900 construction and long-term jobs.”

In Housing New Mexico’s development pipeline, there are currently 4,765 apartment homes at various stages of development representing 51 different housing communities. These developments are located in 20 municipalities in 15 counties across the state, and the total funding from tax credits, bonds and loans is $357,716,795.

At its June 2024 meeting, the Housing New Mexico Board of Directors approved a $3 million-New Mexico Housing Trust Fund revolving construction line of credit to Artisan’s Guild Contracting, LLC for the development of El Toro Community in Roswell. This is a view of the front of an existing single-family home in the El Toro Community subdivision. (Photo courtesy Artisan’s Guild Contracting, LLC)

“Our programs don’t stop at helping people get into homes or weatherizing and rehabilitating homes,” said Housing New Mexico Chief Housing Officer Donna Maestas-De Vries. “We have programs in which we partner with landlords, and we have and several programs that address homelessness and supportive services.”

Laguna Housing Development and Management Enterprise held a groundbreaking for East Paraje Apartments in July 2024. East Paraje is a new development of 20 affordable apartments, with 25% of the homes being targeted toward families with children. Housing New Mexico awarded the community approximately $9.3 million in federal Low-Income Housing Tax Credits, which are expected to produce approximately $7.8 million in cash equity over a 10-year period. (Photo courtesy Housing New Mexico)

In fiscal year 2024, Housing New Mexico provided $43,700,000 for housing vouchers for 6,135 people and families and provided $5,850,000 for homelessness prevention or supportive services for 7,077 people.

To view the annual report in its entirety, visit housingnm.org/about-mfa/financials.

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