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At its Jan. 17 regular meeting, the Las Cruces City Council approved a housing trust fund loan agreement between the City of Las Cruces and Three Sisters Chelsea Investment Corp., a New Mexico developer that plans to build the Three Sisters Apartments, a 70-unit affordable housing complex at 130 N. Walnut St., the city said in a news release.
The housing complex is expected to include a community center and outdoor recreation space and will designed for families with children, the city said. The apartments will target households earning less than 60 percent of area median income.
Project partners are Catholic Charities Housing, Inc. and Chelsea Investment Corp., the news release said.
On Dec. 20, 2021, the city council approved a resolution that committed a $2.4 million loan to support the project, which has also received low-income housing tax credits from the New Mexico Mortgage Finance Authority.
Construction on the project is expected to begin in June, the city said.
