Affordable senior housing coming to Albuquerque in 2026

ALBUQUERQUE, N.M. (KRQE) – In just six years, roughly 40% of Bernalillo County will be over 65 years old and facing a housing crunch. Ahead of that, East Central will have a new affordable place for more than 80 seniors to call home.

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The Farolito project at Central and Eubank promises 82 apartments for lower-income seniors. “This type of property relies on individuals that have an income but need something that is more affordable than some of the other options that a for-profit housing provider might be able to provide,” said Miriam Hicks, Sol Housing, Director of Housing Development.

The project site has been vacant for nearly two decades on property owned by the New Mexico State Land Office. It marks the second time state trust land will be used for a senior living facility. “This is unique where we are now using state land to solve a challenge, solve our housing challenge,” said Stephanie Garcia Richard, NM State Land Commissioner.

“We have 200 seniors living in our west side gateway so now they will be able to find affordable housing here, so this is really filling a gap that we desperately need,” said Albuquerque Mayor Tim Keller.

Census data shows New Mexico has the 13th highest percentage in the U.S. of people 65 and older and the state’s on track to be fourth in the nation by 2030.

The state land office and developers hope the project is just one of many more affordable housing projects on the way in Albuquerque. “We need housing as quickly as we can possibly build it for seniors to have a home. It’s one of the fastest growing areas of people that are unhoused are people that are over 65” said Hicks.

The $27 million Farolito project is expected to take about a year and a half to finish with people moving in by 2026.

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