New Mexico Invests $6 Million in Affordable Housing Initiative for Albuquerque's Tierra Linda Community
In a significant move to tackle the pressing issue of affordable housing, the State of New Mexico has announced a $6 million funding allocation for DBG Properties' latest initiative, Tierra Linda. This new community aims to provide 240 homes in Southwest Albuquerque, offering completely income-restricted housing designed to cater to individuals and families struggling to find safe and affordable living options.
The announcement was made on August 28, 2025, with local stakeholders including the City of Albuquerque and Bernalillo County expressing strong support for this crucial development. Eric Grodahl, the Principal at DBG Properties, emphasized the importance of this funding, stating, 'This $6 million allocation helps unlock a critical pipeline project at a moment when families need relief.' He stressed that the new community, set to be located at 3450 98th St S., is designed for affordability at 60% of the Area Median Income (AMI).
The Tierra Linda community is part of a larger statewide initiative aimed at addressing New Mexico's housing crisis. The Governor's office has committed over $80 million to accelerate solutions for affordable housing and homelessness, recognizing the urgent need for more accessible living spaces in urban areas like Albuquerque. Given the increasing challenges many residents face in securing adequate housing, such investments are more crucial than ever.
Meredith Wright, President of Mission Rock Residential—the property management company selected to oversee the community—echoed Grodahl's sentiments, expressing pride in partnering with DBG on this project. She stated, 'Mission Rock is proud to partner with DBG on a community that directly addresses Albuquerque's urgent need for attainable housing.' Wright underscored the importance of creating resident-first environments where families can thrive.
As development plans progress, Tierra Linda is expected to break ground with aspirations to open its doors to families in 2027. This timeline showcases the commitment from developers and governmental bodies alike to ensure that much-needed housing becomes available in a timely manner. The city and county endorse this project, aligning with their shared goals to expand family-oriented housing on the Southwest Mesa.
Additional support for this endeavor comes from key financial partners, including NewPoint, the New Mexico Mortgage Finance Authority, and Affordable Housing Partners who is an equity partner. Earlier this year, the Bernalillo County Commissioners approved up to $55 million in Project Revenue Bonds for Tierra Linda, illustrating the local government’s recognition of the project's significance in alleviating housing shortages.
DBG Properties is well-equipped to lead this initiative, boasting decades of expertise in the domain of affordable housing across the Western United States. Their history of success includes assembling robust public-private partnerships and delivering quality, community-oriented residences. With a proven track record, DBG aims to ensure that Tierra Linda not only meets the housing needs of its residents but also enhances neighborhood stability and value for years to come.
The overall commitment to affordable housing from both public and private sectors shows a collective acknowledgment of the reality that many residents are facing: the struggle to find affordable homes.
As Albuquerque looks forward to the realization of Tierra Linda, the broader implications of such initiatives called into question the effectiveness of current housing policies and the ongoing socio-economic challenges many Americans face.
For further media inquiries about this project or other developments from DBG Properties, contact the relevant media channels provided in the initial announcement. The collaboration between state initiatives and local developers reflects a concerted effort to provide supportive housing solutions that fundamentally change lives and communities in New Mexico.
The announcement was made on August 28, 2025, with local stakeholders including the City of Albuquerque and Bernalillo County expressing strong support for this crucial development. Eric Grodahl, the Principal at DBG Properties, emphasized the importance of this funding, stating, 'This $6 million allocation helps unlock a critical pipeline project at a moment when families need relief.' He stressed that the new community, set to be located at 3450 98th St S., is designed for affordability at 60% of the Area Median Income (AMI).
The Tierra Linda community is part of a larger statewide initiative aimed at addressing New Mexico's housing crisis. The Governor's office has committed over $80 million to accelerate solutions for affordable housing and homelessness, recognizing the urgent need for more accessible living spaces in urban areas like Albuquerque. Given the increasing challenges many residents face in securing adequate housing, such investments are more crucial than ever.
Meredith Wright, President of Mission Rock Residential—the property management company selected to oversee the community—echoed Grodahl's sentiments, expressing pride in partnering with DBG on this project. She stated, 'Mission Rock is proud to partner with DBG on a community that directly addresses Albuquerque's urgent need for attainable housing.' Wright underscored the importance of creating resident-first environments where families can thrive.
As development plans progress, Tierra Linda is expected to break ground with aspirations to open its doors to families in 2027. This timeline showcases the commitment from developers and governmental bodies alike to ensure that much-needed housing becomes available in a timely manner. The city and county endorse this project, aligning with their shared goals to expand family-oriented housing on the Southwest Mesa.
Additional support for this endeavor comes from key financial partners, including NewPoint, the New Mexico Mortgage Finance Authority, and Affordable Housing Partners who is an equity partner. Earlier this year, the Bernalillo County Commissioners approved up to $55 million in Project Revenue Bonds for Tierra Linda, illustrating the local government’s recognition of the project's significance in alleviating housing shortages.
DBG Properties is well-equipped to lead this initiative, boasting decades of expertise in the domain of affordable housing across the Western United States. Their history of success includes assembling robust public-private partnerships and delivering quality, community-oriented residences. With a proven track record, DBG aims to ensure that Tierra Linda not only meets the housing needs of its residents but also enhances neighborhood stability and value for years to come.
The overall commitment to affordable housing from both public and private sectors shows a collective acknowledgment of the reality that many residents are facing: the struggle to find affordable homes.
As Albuquerque looks forward to the realization of Tierra Linda, the broader implications of such initiatives called into question the effectiveness of current housing policies and the ongoing socio-economic challenges many Americans face.
For further media inquiries about this project or other developments from DBG Properties, contact the relevant media channels provided in the initial announcement. The collaboration between state initiatives and local developers reflects a concerted effort to provide supportive housing solutions that fundamentally change lives and communities in New Mexico.
Topics General Business）
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