Chipping away at what is thought to be a dearth of 5,600 affordable rental units in the city, plans are now moving forward for a new housing complex in Las Cruces geared especially for seniors.
To be called the Padrena Apartments, the $26 million complex will go up on a currently vacant site some 3 miles to the south of downtown Las Cruces.
Members of the Las Cruces City Council have given their unanimous approval to a project that will see the building of an L-shaped, three-story structure housing eighty rental units.
Those eighty-one and two-bedroom units will be restricted to tenants 55 years of age and older, with construction expected to begin early next year. What is being called the main building of the project will include such amenities as a business center, library, exercise room, and private meeting rooms.
The project belongs to the Thomas Development Company, which is based in Boise, Idaho.
In approving the project, council members also signed off on around $3.3 million in loan agreements between the Thomas company and the City of Las Cruces to spur the project’s development.
Founded in 1990, the Thomas Development Company specializes in multifamily real estate projects and has to date spearheaded the development of more than 4,000 apartment homes.
By Garry Boulard
