ALBUQUERQUE, N.M.--(BUSINESS WIRE)--U.S. Representative Michelle Lujan Grisham (NM-District 1) will join representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas), Wells Fargo, YES Housing, and other dignitaries for the grand opening of the Imperial Building. The event will take place at 11:00 a.m. Monday, August 29, 2016, at 205 Silver Avenue SW in Albuquerque, New Mexico. The media is encouraged to attend.
The Imperial Building, a 74-unit mixed use, multifamily rental property received a $378,000 Affordable Housing Program (AHP) grant, which provided gap funding that aided in the construction of the building. Developed by YES Housing, the grand opening will celebrate the completion of the apartment community. The apartments, which opened in May, are anchored by a 10,000-square-foot grocery store, retail services, and underground parking. The grant comes to the Imperial Building from FHLB Dallas and Wells Fargo. Additional funding for the project came from the city of Albuquerque, New Mexico Mortgage Finance Authority (MFA), and the MFA Primero Loan Program.
“This mixed use building is one of the great catalysts for downtown,” said Mayor Richard Berry. “The grand opening of the Imperial Building is a testament to the great things that happen when the private and public sectors come together on a project such as this one. I applaud all of our partners, including Wells Fargo and the Federal Home Loan Bank of Dallas, for their efforts contributing to the revitalization of Albuquerque’s economic landscape.”
AHP grants are available annually through FHLB Dallas member institutions such as Wells Fargo to assist in the development of affordable owner-occupied and rental housing for very low- to moderate-income households located across FHLB Dallas’ five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. This year, FHLB Dallas awarded $7.8 million in AHP grants to 27 projects that will result in 1,499 new or renovated housing units.
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WHAT: |
Grand Opening |
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WHEN: |
11:00 a.m., Monday, August 29, 2016 |
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WHO: |
The Honorable Michelle Lujan Grisham, U.S. Representative, NM-District 1 |
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| Richard J. Berry, Mayor, City of Albuquerque | ||
| Art De La Cruz, Bernalillo County Commissioner Chair | ||
| Isaac Benton, City Councilor, NM-District 2 | ||
| Klarissa Peña, City Councilor, NM-District 3 | ||
| Jay Czar, Executive Director, New Mexico Mortgage Finance Authority | ||
| Chris Baca, President & CEO, YES Housing, Inc. | ||
| Joe Ortega, Executive Vice President, YES Housing, Inc. | ||
| Shawn Colbert, Vice President, Real Estate Development, YES Housing, Inc. | ||
| Dory Wegrzyn, Sr. Development Associate, YES Housing, Inc. | ||
| Ron “RC” Casias, Imperial Building Resident | ||
| Lisa Riley, Regional President, Wells Fargo | ||
| Pat Nie, Vice President, Community Development, Wells Fargo | ||
| Jennifer Riordan, Vice President, Community Relations, Wells Fargo | ||
| Greg Hettrick, First Vice President, Director of Community Investment, FHLB Dallas | ||
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WHERE: |
The Imperial Building |
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| 205 Silver Avenue SW | ||
| Albuquerque, NM 87102 |
