Developers

From Gallup to Clovis and Mescalero to Farmington, MFA finances the construction of affordable housing across New Mexico. We provide low-interest rate gap financing for developers to cover what traditional funding sources won’t. In exchange, a certain number of housing units are set aside for low-income families to live in.

Last year, our programs financed the new construction and rehabilitation of 1,364 rental units and 179 single-family homes. And, we issued $8 million in tax-exempt bond cap, which was leveraged with $900,000 in taxable bonds and approximately $4.9 million in low-income housing tax credits to create 127 more affordable rental units.

Call an MFA Housing Development Department staff member to find out more about how we can help you get your project financed.

CHRISTOPHER CATES, pictured above

The Sawmill Lofts were born from a unique partnership between the community and MFA. Located in Albuquerque’s historic Old Town, the 60-unit, live-work apartment complex was created for artist residents and includes a common artists’ workroom, performance space and a park.

Christopher Cates, an Indian jewelry designer, lives in the Sawmill Lofts. He also helped design the park where his children love to play. With its handicap-friendly design, Christopher says the Lofts are the perfect place for him and his children to live.

“I love the openness of the Lofts and the community aspect of it,” Christopher said. “I’ve never lived in an apartment before, but this has been a refreshing change. The Lofts have everything I was looking for in a home.”