City seeking $50 million from state legislature to support housing efforts

As the start of the 60-day legislative session approaches, the City of Albuquerque announced that it is requesting $50 million from the state for the Housing Forward initiative. The funds would help increase access to housing throughout Albuquerque and secure the city’s affordable future.

A key initiative is the formation of a joint Albuquerque-Bernalillo County housing authority to maximize impact and provide access to new revenue streams to benefit the entire Albuquerque area. The unique regional authority, which requires approval from the state legislature, will centralize efforts so that more housing can come online quickly to meet urgent demands.

“We are facing a housing crisis that affects people from all walks of life. This is the time to step up to address the crisis head on,” said Mayor Tim Keller. “Together, we can secure a future that’s affordable for Burqueños and their families.”

“This is a true partnership, and the continuation of our long-standing collaboration a we moved forward together as City and County to face these challenges,” said Bernalillo County Commission Chair Barbara Baca.

We are committed to creating more housing across the state so that all New Mexicans can access safe housing that they can afford,” said County Commissioner. “We look forward to working hand-in-hand with the Legislature to make it a reality.”

“This partnership between City and County is critical to address the housing challenges that are affecting people throughout our region,” said Eric Olivas, Bernalillo County Commissioner for District 5. “Having the scale of the City and the County combined with private and non-profit partners will be crucial as we step up to meet this immediate crisis.”

“We believe that when you build housing, you empower the whole community,” said Chris Baca, President and CEO of YES Housing. “This joint effort with the City and the County is going to spur our efforts so we can see more construction happening soon, and more units coming online for parts of our community that need them most.”

Facing a shortage of up to 30,000 housing units, Albuquerque needs funding and flexibility to close the gap and add housing options that meet the needs of folks from all backgrounds. Funding from the state will help the City as it works to create more housing across income levels, convert existing properties into accessible housing, support the local construction workforce, and continue to implement programs that help people get and stay in housing.

Learn more about Housing Forward here.