Location: Albuquerque, New Mexico
In 2016, Ventana Fund awarded a $625,000 construction loan to the Albuquerque Housing Authority and Wishrock Investment Group LLC to rehabilitate Rio Vista Apartments. Rio Vista is a 75-unit complex in Albuquerque that serves low-income seniors and persons with special needs earning no more than 50 percent area median income. The property consists entirely of one-bedroom units, all of which have HUD project-based Section 8 subsidies. The acquisition and rehabilitation of the property will serve to preserve the property’s affordability.