Anchorum Health Foundation Supports Affordable Housing Initiative—Amount Revealed.

Suburban houses in a suburb in the outskirts of the city of Gallup, New Mexico, USA

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

Anchorum Health Foundation has announced a significant investment of $15.5 million to expand affordable housing in northern New Mexico, a region facing a severe shortage of affordable homes. The funding will support several initiatives aimed at increasing access to affordable homeownership and improving overall quality of life for local residents.

The largest portion of the investment, $10 million, will be allocated as a loan to Homewise, a nonprofit organisation dedicated to providing affordable housing solutions. The loan will help finance the infrastructure for the third phase of Tierra Contenta, a long-planned mixed-use community in southwest Santa Fe that will provide approximately 1,500 affordable homes.

“Our vision for solving the affordable housing crisis depends on collaboration,” said Jerry Jones, president and CEO of Anchorum Health Foundation. “It will take strong partnerships and bold, long-term investments to increase access to affordable homeownership, improve overall quality of life, and transform our communities.”

In addition to the loan, Anchorum Health Foundation is also providing a $2.5 million impact investment in Native Community Capital (NCC) to support a development loan fund for tribal communities. This includes a housing project in Shiprock, New Mexico, which will provide much-needed affordable housing options for local families. Furthermore, a three-year, $1.5 million grant to NCC will support operations, including efforts to convene Pueblos and Tribal elected leaders on leveraged financing for homeownership on Tribal lands.

The remaining $1.5 million will bolster the Affordable Housing Loan Fund, a pilot project designed to support speculative and pre-development activities for affordable housing projects. This funding will help bridge the financial gap often associated with developing affordable housing, making it easier for developers to bring projects to fruition.

Please don’t forget to “allow the notification” so you will be the first to get our gist when we publish it.
Drop your comment in the section below, and don’t forget to share the post.