A New Mexico plan to develop strategic housing investments is expected to be soon formulated as part of a larger effort to increase affordable housing across the state.
The plan comes with the formation of a Housing Investment Council tasked with addressing shortfalls in available housing resources, as well as ongoing and obstacle-ridden regulatory and zoning policies that negatively impact new housing development.
In announcing the creation of the Council, Governor Michelle Lujan Grisham remarked: “It’s time to go big on affordable housing.”
Continued the Governor: “We need thousands of homes to meet demand and give New Mexicans a stable foundation.”
Earlier this year members of the New Mexico State Legislature approved up to $82 million in funding for new and updated housing, trying to address an issue that has become more potent as the average price of a home in the Land of Enchantment has surpassed the $284,000 mark.
That figure, according to Zillow.com, is up from $177,000 just five years ago.
As constituted, the Council is made up of both public and private leaders and will also be tasked with the facilitation of public-private partnerships to get more homes built.
One focus of the effort is expected to center on new tribal lands housing.
In a press release announcing the formation of the Council, Lorrie Chavez, chief executive officer of the Santo Domingo Housing Authority, which is based in Sandoval County, remarked: “When you look at housing and think about housing in Native communities, we live in multigenerational housing and that leads to overcrowding.”
By Garry Boulard
