Current Projects 

New Mexico 

 
• Carlsbad - Mi Casa Supportive Housing  

Mi Casa is a new construction 24-unit rental development for the severely mentally ill with incomes at or below 50% of the area median income, of which residents will pay a nominal rent not to exceed 30% of their income.  This development features one-bedroom apartments of 575 square feet and a 2,000 square foot community space where social services will be provided and will include a laundry facility and manager's office.  The total development cost is $2.2 million.  The funding sources include (from the Mortgage Finance Authority - MFA):  HOME Funds, Land Title Trust Funds, House Trust Funds, Primero and Affordable Housing Tax Credits.  The remaining sources include a loan from the Carlsbad Foundation and various donations.  Operating subsidies were awarded through Shelter + Care Vouchers and Project-Based Section 8 Housing Vouchers.  YES Housing, Inc. is serving as the developer.  The development is owned by CMHC Mi Casa, LLC.

•  Deming - Mountain View Apartments  

Mountain View Apartments is a 48-unit acquisition/rehab of an affordable senior housing community.  It consists of 44 1-bedroom/1-bathroom units and four 2-bedroom/1-bathroom units as well as a community building that houses a manager's office, maintenance and laundry room.  The rehabilitation will result in 25% of the units being set aside for residents with Special Needs and three units at or below 50% of area median income; the remaining 44 units are at or below 60% AMI.  The property will be renovated with new rooms, furnaces water heaters and be brought up to ADA standards as well as meeting Enterprise Green Communities standards.  Financing includes:  Low Income Housing Tax Credits (MFA), HOME Funds, Housing Trust Funds (MFA) and USDA 515 loan.  YES Housing, Inc is serving as developer and owner.  Renovation is anticipated to being in Spring 2012. 
 

Texas  

• San Elizario, Texas - Presidio Dolores Apartments

Presidio Dolores is the proposed new construction of a 36-unit 2, 3, and 4-bedroom duplex style apartment community for Farm workers with incomes at 50% and 60% of the area median income.  Design work is compliant with local San Elizario historic district requirements and all apartments will include a front porch, covered rear patio and attached one-car garage.  Presidio Dolores has received a funding commitment from USDA-TDRO for a 514 first mortgage loan with rental assistance for 100% of the residents.  This project also received a preliminary Tax Credit award from the Texas Department of Housing and Community Affairs.  YES Housing, Inc. is the co-developer on this project, along with Housing Economic Rural Opportunity, Inc. (HERO).  HERO, Inc. will serve as the managing general partner.