Cedar Hills: Low-Income Housing Tax Credit (LIHTC) Project
The Pueblo of Acoma Housing Authority (PAHA) utilized low-income housing tax credits that was awarded in 2016 to design, award and construct the Cedar Hills multifamily housing development that includes 30 apartment units. There are 16 two-bedroom, two bath and 14 three-bedroom, 2 bath apartments. Two apartments are ADA compliant; one apartment is visual and hearing impaired compliant; and 27 units are ADA B compliant.
Cedar Hills welcomed residents in April 2018 with rent ranging from $175 to $745 a month. Three units were set aside for households at or below 30% of the area median income (AMI), 20 units at or below 50% AMI, and seven units at or below 60% AMI.
Designed by Travois Designs and inspired after the Pueblo of Acoma’s Sky City, the Pueblo’s original village located on top of a mesa, Cedar Hills is lined with townhomes in a U shape with a gathering area in the center that includes a 1,352 square foot community building, a playground and picnic area, a full-court basketball court and an open recreation space with a bike and walking trail.
The $7.6 million development was primarily financed with low-income housing tax credits allocated by the New Mexico Mortgage Finance Authority and equity provided by Raymond James Tax Credit Funds. PAHA committed over $430,000 and invested $1.2 million extend existing infrastructure, such as roads, water, wastewater, electric and communications.
“The design gives the traditional style with a modern twist. It was extremely important to PAHA that the project incorporate the aesthetics of the Pueblo architecture, even down to matching the color of the stucco with the traditional mud.”
For the Cedar Hills project, PAHA received a Charles L. Edson Tax Credit Excellence Award in affordable housing for the best low-income housing tax credit project in the Rural Housing category.