ALBUQUERQUE, N.M. (KRQE) – A project bringing a whole new housing model to New Mexico is designed to make sure affordable housing stays affordable. The idea is to lower energy costs while helping tenants build a nest egg for the future. City leaders say they hope this is the first of many more projects to come.
The project is underway in Albuquerque’s International District, which will turn a 63-year-old building into affordable housing, but it’s not just any renovation. This project has a special focus on energy efficiency, adding new roofing, efficient toilets, windows, and solar panels.
“What our goal was was to do the rehabilitation and save energy for the residents so they would see their energy bills go down,” said Roger Valdez, Director for the Center for Housing Economics.
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And those savings will go to the tenants. They will not only pay lower energy bills, but people who rent here will automatically get a savings account in their name, where the estimated money they’re saving on utilities would go. It’s all thanks to funds from a private nonprofit, up to $5,000…