New Mexico

Sunray Lobo Canyon | Grants, NM

Loan Amount: $3,500,000

Developer: Chelsea Investment Corp

The Sunray Lobo Canyon Apartments is a 128-unit affordable housing project combining two adjacent complexes, with 126 units (98.4%) restricted to tenants at or below 60% of AMI, featuring acquisition and rehabilitation of one- and two-bedroom units. The property serves low-income families, with 123 units (96%) subsidized through USDA Rural Development Rental Assistance. Amenities include community buildings and outdoor spaces.

Units: 128