NM Affordable Futures

What is NM Affordable Futures? 

NM Affordable Futures, spearheaded by the New Mexico Housing New Mexico, is the state of New Mexico’s official, coordinated housing affordability preservation program. Through NM Affordable Futures, Housing New Mexico aims to protect affordable housing units within the state of New Mexico, thereby working to ensure all New Mexicans have quality affordable housing opportunities. Encompassed within this broad aim are various goals, including: 

• The protection of affordable subsidized units reaching the end of their mandated affordability periods, thus facing the threat of conversion to market-rate rents 
• The protection of properties at risk of loss due to physical deterioration from aging or neglect 
• The protection of affordable properties from actors seeking profit at the expense of long-term affordability 

Preservation Strategy 

NM Affordable Futures approaches the issue of affordable housing preservation from several angles, maximizing its reach to achieve preservation goals. Housing New Mexico and its valued partners have already developed plans, formulated strategies and taken steps toward preserving affordable housing for New Mexicans in need. This work includes:

• The development of a flexible and responsive preservation-oriented funding program (Click here to learn about the New Mexico Preservation Loan Fund).   
• The standardization of internal Housing New Mexico procedures, including ownership changes, loan/LURA modifications, and owner contact policies, to better advance preservation goals in the agency’s everyday practices. 
• The coordination of efforts to connect with, engage with, and learn from owners of aging and at-risk properties to better understand how Housing New Mexico can support these properties for long-term sustainability, including financial viability, physical upkeep, and preservation of affordability. 

For more information on the NM Affordable Futures Program; please contact us.