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BernCo incentives support 151 new apartments at Silver Moon Lodge, create jobs

Bernalillo County – Commission Vice Chair Art De La Cruz today joined community officials in cutting the ribbon on the Silver Moon Lodge Apartments, a new workforce housing development in Downtown Albuquerque.

The County Commission in 2013 approved an $8 million project revenue bond for the project, which allowed the developer DBG Properties to access bonds at a lower interest rate and receive some tax exemptions. The bonds are privately financed.

Today, Silver Moon Lodge features 151 affordable apartments with amenities in Albuquerque’s urban core.

“There’s clearly a huge demand for more workforce housing and more housing options in Downtown Albuquerque and throughout Bernalillo County,” Commission Vice Chair Art De La Cruz says. “Bernalillo County is proud to support high-quality developments such as the Silver Moon Lodge Apartments, which are crucial to generating a more vibrant Downtown Albuquerque and improving our quality of life.”

The Silver Moon Lodge Apartments are located within walking distance of many major employers and are close to several public transportation options, from the New Mexico Rail Runner to the city’s Rapid Ride bus service.

The project also created 150 temporary construction jobs and four permanent jobs.