Homeless Housing Breaks Ground in Albuquerque’s Rescue Mission

Two Affordable Housing Program (AHP) grants totaling $786,000 were awarded in 2015 to the Albuquerque Rescue Mission by New Mexico Bank & Trust and FHLB Dallas.
AHP Grants for New Mexico

U.S. Representative Michelle Lujan Grisham (center) joins leaders from the Albuquerque Rescue Mission, New Mexico Bank & Trust, and the Federal Home Loan Bank of Dallas (FHLB Dallas) to celebrate the beginning of construction on 86 units of homeless housing. 

Albuquerque, N.M.—Representatives of New Mexico Bank & Trust, the Federal Home Loan Bank of Dallas (FHLB Dallas) and New Mexico Congresswoman Michelle Lujan Grisham (District 1) attended the ground breaking of a new housing project at the Albuquerque Rescue Mission.

Two Affordable Housing Program (AHP) grants were awarded to the nonprofit: one for $500,000 and one for $286,000 from New Mexico Bank & Trust and FHLB Dallas, respectively. The funds will be used to redevelop a dance studio and an existing facility into 86 units of transitional housing for homeless people.

“I want to congratulate and commend the leadership of the Albuquerque Rescue Mission on this historic day, which celebrates the expansion of space and services for homeless men and women,” said Congresswoman Lujan Grisham. “This transitional housing will open doors that otherwise would remain closed to a vulnerable population. Thank you to the Federal Home Loan Bank of Dallas and New Mexico Bank & Trust for your contributions to improving the lives of those in need. I am honored to represent this district and to work with you to improve the quality of life for every citizen.”

“The Albuquerque Rescue Mission has been a great partner with the City of Albuquerque, with initiatives like our Winter Shelter for our most vulnerable during our coldest months,” added Mayor Richard J. Berry. “Their work to end homelessness is incredibly important to our community, and I am pleased that they are receiving national attention and funding to build upon their solid foundation of work.”

Every year, FHLB Dallas returns 10 percent of its profit in the form of AHP grants to the communities served by its member institutions, such as New Mexico Bank & Trust. These grants are used to fund a diverse range of projects, including home rehabilitation and modifications for low-income, elderly, as well as special needs residents; down payments and closing cost assistance for qualified first-time home buyers; and the construction of low-income, multifamily rental communities and single-family homes.

“The work of the Albuquerque Rescue Mission serves a critical need in our community,” said R. Greg Leyendecker, president & CEO at New Mexico Bank & Trust. “We are pleased to be able to support them in their service to people who have nowhere else to turn.”

Since 1990, 39 projects in the Albuquerque area have been awarded AHP grants worth more than $6.7 million, and New Mexico received more than $23.7 million in the same time frame. In 2015, $996,000 worth of AHP grants were awarded to New Mexico for 116 housing units. FHLB Dallas and its member financial institutions awarded more than $7.4 million in AHP grants in 2015 to 32 projects located primarily in its five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. The funds will result in 965 new or renovated housing units. Applications for 2016 projects will be accepted starting February 1.

“Without this bridge, individuals continue to struggle to get basic needs met,” said Greg Hettrick, first vice president & director of Community Investment at FHLB Dallas. “The new housing being built by the Albuquerque Rescue Mission removes this obstacle, helping them to make strides toward healthier living. FHLB Dallas is honored to partner with New Mexico Bank & Trust to support the project.”