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PHA code NM001 · Medium PHA · New Mexico

Albuquerque Housing Authority

Albuquerque Housing Authority has closed 6 RAD conversions covering 270 public housing units. It still has 697 public housing units in 6 projects that HUD's May 2026 rents tool prices for RAD.

Of the closed deals, 6 went to project-based vouchers (PBV) and 0 to project-based rental assistance (PBRA). 6 used low-income housing tax credits and 0 carried FHA-insured debt.

Conversions

RAD Component 1 conversions for NM001, newest first
Development Type RAD units Status Closed Tax credits FHA Hard cost / unit
60th StreetPBV42ClosedDec 20254%$281,302
120 La PlataPBV32ClosedDec 20239%$245,438
9000 VerandaPBV35ClosedDec 20239%$258,969
6100 HarperPBV59ClosedAug 20219%$118,251
Broadway / Mcknightnew constructionPBV30ClosedAug 20219%$260,153
The Commons at MartineztownSec. 18 blendPBV72ClosedDec 20204%$95,428

Still public housing: 2026 RAD rents

HUD's rents tool sets a 2026 RAD contract rent for each unconverted project from its 2024 public housing funding, inflated by the 2025 and 2026 OCAF. Across NM001's remaining units that averages $1,077 a month, against a weighted PBV cap of $1,782 (110% of fair market rent, before the utility allowance). Where the RAD rent is below the cap, a Section 18 blend can raise the rent and the debt it carries.

Unconverted public housing projects, May 2026 RAD rents tool
Project Units 2026 RAD rent PBV cap PBRA cap 60/40 blend
Gibson & Constitution NM001000002 163 $956 $1,327 $1,447 $1,212 Debt
Sunset Gardens-60th St NW NM001000000 153 $1,282 $2,389 $2,606 $1,893 Debt
Morris Pennsylvania Copper NM001000004 142 $1,127 $1,985 $2,165 $1,613 Debt
Veranda Chelwood City View NM001000005 111 $1,064 $1,794 $1,957 $1,466 Debt
Fifth & Fruit NM001000001 110 $894 $1,258 $1,372 $1,132 Debt
Harper Lafayette La Plata NM001000003 18 $1,248 $2,255 $2,460 $1,766 Debt

Rents are monthly per unit, weighted across each project's bedroom mix. The caps are shown before HUD's estimated utility allowance. HUD calls the blend figures estimates. Project names are as reported to HUD.

Financing the next one

Send the deal to the commercial mortgage desk at Janover Capital LLC: debt for a conversion (FHA 223(f) or 221(d)(4), bank or bond), a Section 18 blend, or a refinance of a property that has already converted. Tell us where it stands, and a person at Janover Capital will reply.

Janover Capital LLC is not HUD, the RAD Resource Desk or a housing authority, and is not affiliated with or endorsed by any of them. Nothing here is legal advice or an offer of credit.

The deal
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Sources: RAD Resource Desk Component 1 property export, downloaded ; HUD RAD Contract Rents Look-Up Tool, May 2026. Hard cost per unit divides reported hard construction costs by RAD plus non-RAD units; blank where HUD's export reports none. About the data.