It might seem like a drop in the bucket, but the City of Albuquerque is looking to create 5,000 housing units by 2025 to help fight the city’s housing shortage.
Mayor Tim Keller noted that the City is proposing a $5 million fund to finance the development and construction of the units.
“We’ve all been working hard on this issue but like a lot of challenges, we’re in a rowboat against a tidal wave,” Keller said in a press conference covered by KOB 4 to announce the proposed initiative.
City officials have said Albuquerque is short anywhere from 13,000 to 30,000 housing units to service the needs of residents of all income levels.
The City’s proposal, Keller said, begins with more development as well as taking advantage of existing spaces around the city. There are plans for 10 conversions of office, hotel and motel spaces.
“We’re going to try and convert commercial office space into housing,” Keller said. “So we’re proposing a $5 million fund to do that.”
The City also plans to train a workforce to build housing and convert existing units.
“We’re going to work with our programs to try and train 250 new workers that will be specifically available for housing conversion and rehab,” the mayor said.
While 5,000 units will help, it won’t be enough to solve the lack of housing, a problem that appears to be growing and could be exacerbated by a potential recession.
Keller also noted that the city is looking at consumer protection issues, enforcing anti-discrimination laws based on sources of income, cracking down on nuisance properties, and looking at other ways the city will need to evolve.
“Right now, our zoning code will never allow us to meet the housing demand in the city,” he said. “So I want to be clear the status quo will never allow us to eliminate this housing challenge.”
