A downtown Albuquerque building that has served for most of the last decade as extended stay residential space for corporate clients may soon be repurposed as affordable senior housing.
Located at 950 4th Street NW, two blocks to the north of the Pete V. Domenici U.S. Courthouse, the three-story Anthea @ Granite was built in 2015 at a cost of $6 million.
Upon its official opening in August of that year, it was touted as a “condotel,” or a condominium project that operates as a hotel, offering 23 furnished one-, two-, and three-bedroom condominiums, with weekly rents starting at $799.
The occupancy levels of the structure in recent years have varied, with Bernalillo County officials recently regarding it as a good candidate for a senior living complex.
Now members of the Bernalillo County Commission have given their unanimous approval to purchasing the building for senior housing, using $5.2 million in funds received through the American Rescue Plan Act.
While the upper floors of the building already have residential units and balconies, the bottom floor, originally intended for retail or office space, has remained vacant since the Anthea @ Granite opened.
According to county officials, that 8,000 square-foot lower space may be repurposed into additional residential space.
Following federal Department of House and Urban Development guidelines, the apartments will be available to residents who are 62 year of age or older, with an income of no more than 30% of the area median income.
By Garry Boulard
