Affordable housing complex to be built in Sandoval County

Affordable housing is on its way to Sandoval County.

The Sandoval County Commission unanimously approved a bond ordinance July 24 to support the construction of Sandoval Flats, a 218-unit affordable housing complex. The project, to be developed by Dominium Group, will be located at the northeast corner of Camino Encantadas and Oersted Road in Rio Rancho.

Dominium Group Senior Vice President and Project Partner Ron Mehl said the project's focus is on families and its commitment to providing larger living spaces compared to other affordable housing options in the area.

The complex will feature apartments with one bedroom and one bathroom (725 square feet), two bedrooms and two bathrooms (1,050 square feet) and three bedrooms and two bathrooms (1,250 square feet), equipped with amenities like full-sized washers and dryers, private balconies, walk-in closets and gourmet kitchens with full appliances.

Mehl said a key goal with the units was to feature bigger bedrooms and living rooms. He said the complex will focus on families via the two-bedroom and three-bedroom units.

Community amenities will include picnic and grill areas, outdoor playgrounds, a fitness center, swimming pool and hot tub.

Mehl said the complex will be developed on 10 acres of land. He also said the monthly rent, currently set to range from $759 to $1,053, may bump up or down a bit depending on that resident’s income.

The developer has impressed county officials who visited their existing facilities in Florida and Arizona and received positive feedback from residents.

"I was extremely, extremely impressed with them," said Sandoval County Financial Advisor Rob Burpo, who toured the developer's properties. "And I even had a chance to talk with some of the people that were moving into the new facility, and universally the comments we got were extremely positive."

While the project has received overall support from the commission, the potential impact on property values, traffic and the overall need for affordable housing in Rio Rancho was discussed at the meeting. A housing needs assessment conducted by the New Mexico Housing Authority in 2023 highlighted a significant shortage of affordable housing in Sandoval County.

“One of the concerns that always comes up is the impact of home values. New Mexico is a non-disclosure state, so it's hard to go back and look at what assessed values are. But we've looked at them at all of our properties, and what we're seeing is an increase that doesn't change whether affordable housing development near the site or not,” Mehl said. “As far as environmental concerns, we've done all of our geotechnical environmental work, and we're not seeing any concerns. Crime is always a concern, but we've been doing this a long time. We always do criminal background checks, credit checks. We also have a crime and drug-free addendum that goes on the lease. Every resident has to sign that.”

Mehl addressed concerns about the project's impact on neighboring properties, emphasizing compliance with zoning regulations and architectural guidelines. He also outlined plans for extensive landscaping and security measures.

Dominium also offers 300 scholarships at $5,000 each to residents, employees and their dependents at all their properties who are pursuing higher education.

“We give away about $2 million in a charitable fund. One of the things that I'm proud of is our scholarship fund,” Mehl said. “Last year, we gave away $1 million to residents, to kids who live in our properties who apply when they're headed off to school. This year, we're giving away $2 million to our residents. That’s something we're proud of.”

The county's role in the project is primarily as a conduit issuer, facilitating tax-exempt financing for the developer. The bonds and all project costs will be repaid by Dominium Group.

“I look at this is not about money, but a couple other things. And that has to do with a diversity of housing in a community,” Mehl said. “We have people that work at Intel. I'm not talking about teachers or firefighters; I'm talking about working staff. Janitors, bus drivers, all those types of people that have to come from Albuquerque to work in Rio Rancho. This gives them an opportunity to live in Rio Rancho and actually live where they work. That's important. I think that's a good thing to have.”

Construction is expected to begin in the fall and be completed within 18 months with an additional six months for leasing.