An Albuquerque development team is spending $51 million on a two-phase multifamily housing project. The 128-unit project will be located at 724 64th St. NW. in the Atrisco neighborhood.
The project is called “West Mesa Ridge A” and is the first phase of a two-phase development. Phase 2 of construction, with the remaining 144 units, is to finish by December 2028.
Albuquerque Business First reports West Mesa Ridge is being developed by Chelsea Investment Corporation and YES Housing. It is being built by JN Beach Construction, with architecture by Jeebs & Zuzu. The project is being financed by California Bank & Trust, Housing New Mexico MFA, U.S. Bank, the city of Albuquerque, the Albuquerque Housing Authority and Bernalillo County.
Chelsea Investment developed over 150 affordable communities at a cost exceeding $2 billion. Included are special needs housing, senior housing, rural housing, and mixed-use developments.
YES Housing says it was founded in 1990 with the mission of building and revitalizing communities through quality, affordable housing, accessible social services.
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