To address a challenge that experts say is getting worse by the year, Tim Keller has unveiled a plan to build up to 5,000 new housing units in the Duke City within the next three years.
In a press conference, the Albuquerque Mayor likened the city’s current housing situation to that of being “in a rowboat against the tidal wave—and we’ve got to deal with the tidal wave.”
A multi-pronged effort, the mayor’s plan includes an effort to repurpose existing commercial spaces for residential purposes while also pushing for zoning changes that will allow for the construction of smaller dwelling units on existing residential properties.
What is being called the “Housing Forward ABQ” plan, if made reality, will also allow for transitioning hotel and motel space into residential units.
Keller said that Albuquerque needs up to 13,000 new residential units to address current needs, noting: “There is no doubt that Albuquerque is in a housing crisis. We know that over half the renters have seen a 30% increase in the amount of income they have to spend on rent.”
An additional approach to the issue, according to a City of Albuquerque news release, will go after steep apartment application fees, “clarifying that deposits must be refundable, and capping other fees, especially in complexes that accept workers.”
Like many other cities, Albuquerque’s housing challenges have been exacerbated by market trends pegging the average rent for a three-room apartment at more than $1,800, according to the site Rent Café.
That figure is up by around 38% since 2019.
By Garry Boulard
