New Mexico

Villa del Norte Apartments | Espanola Rio Ariba County, NM

Loan Amount: $500,000

Developer: New Mexica Housing & Community Development Corporation

The Villa del Norte Apartments is a 50-unit affordable senior housing development for ages 62 and older, with all units restricted to 50% of AMI, featuring acquisition and rehabilitation of one- and two-bedroom units in 11 single-story buildings. The property focuses on low-income elderly, with 100% HUD Section 202 subsidy and 10 units for special needs. Amenities include a remodeled clubhouse, walking/bike trail, community garden, and picnic areas.

Units: 50