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Home>$9.9M Apartment Construction Project Completed, Thanks to $287K Grant

$9.9M Apartment Construction Project Completed, Thanks to $287K Grant

$9.9M Apartment Construction Project Completed, Thanks to $287K Grant

09/27/2017

$9.9M Apartment Construction Project Completed, Thanks to $287K Grant

AHP Grant from Century Bank and FHLB Dallas Provided Gap Funding

Thanks in part to a $287,000 Affordable Housing Program (AHP) grant from Century Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas), WaDi Housing, a 41-unit apartment community for very low- and low-income residents in the Santo Domingo Pueblo in New Mexico, has opened. Project representatives joined the banks at a grand opening event today.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170926006847/en/

Thanks in part to a $287,000 Affordable Housing Program grant from Century Bank and FHLB Dallas, a n ...

Thanks in part to a $287,000 Affordable Housing Program grant from Century Bank and FHLB Dallas, a new rental community has been built in Santo Domingo Pueblo, New Mexico. (Photo: Business Wire)

The grant was awarded to the Santo Domingo Tribal Housing Authority (SDTHA), which spearheaded the construction project. The grant provided gap funding for the project, which was also funded by the U.S. Housing and Urban Development Department, Raymond James Financial, the New Mexico Mortgage Finance Authority and Native Capital Access.

SDTHA Executive Director Greta Armijo said the rental community will help alleviate overcrowding housing conditions and improve employment, economic and environmental conditions. Ms. Armijo also said that without the AHP grant, the organization would have had to reduce the number of units and build 38 or 39 units instead of 41.

“The community is connected to a historic main village through a 2-mile walking trail system, providing residents with better access to public transportation,” said Ms. Armijo. “Some of the local tribal history and traditions will be preserved through the classes offered in our new community center, as well.”

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