Albuquerque Officials Unveil Plan to Convert Historic Downtown Warehouse into Affordable Housing

Albuquerque Officials Unveil Ambitious Plan to Transform Historic Warehouse into Affordable Housing HavenAlbuquerque Officials Unveil Ambitious Plan to Transform Historic Warehouse into Affordable Housing Haven Albuquerque, New Mexico – City officials have unveiled an ambitious plan to convert a historic downtown warehouse into affordable housing, offering a beacon of hope for residents in need. The former American Furniture Warehouse, a century-old landmark at 415 Marquette NW, will be transformed into a 94-unit apartment complex specifically tailored to low- to moderate-income individuals and families. “This project is a testament to our commitment to address the pressing issue of affordable housing in our city,” said Mayor Tim Keller. “We are leveraging every available resource to create new and preserve existing housing options that meet the needs of our diverse community.” The warehouse, which has been vacant for several years, will undergo extensive renovations to create modern and accessible apartments. The complex will feature a mix of studio, one-, and two-bedroom units, as well as common areas, laundry facilities, and on-site management. The project is being led by Homewise, a local non-profit housing developer, in partnership with the City of Albuquerque Housing Authority. “This is an incredible opportunity to preserve a piece of Albuquerque’s history while also creating much-needed affordable housing,” said Homewise CEO Steve Kopelman. Funding for the project comes from various sources, including federal grants, city and county funds, and private investment. The total cost of the renovation is estimated at $22 million. Construction is expected to begin in early 2024, with completion slated for late 2025. Once complete, the warehouse will join a growing number of affordable housing developments in the downtown area, a strategic initiative by city officials to revitalize the city center and make it more accessible to all. “Affordable housing is not just a buzzword; it’s a crucial element in building a thriving and equitable city,” said City Councilor Tammy Fiebelkorn. “This project will not only provide a stable home for our residents but also contribute to the economic and social vitality of our downtown.” The warehouse conversion is just one component of a larger citywide plan to create 5,000 new units of affordable housing by 2025. “We are committed to making Albuquerque a place where everyone has a safe and affordable place to call home,” Mayor Keller emphasized.