Todd Clarke CCIM——715 8th NW—Albuquerque NM 87102—505-440-TODD

Cantera Consultants & Advisors Inc.

Project File

City Refinance


The Beach, Manzano Vista, and Bluewater Apartments


Scattered Apartment Communities


Albuquerque NM


528 units

Estimated Project cost:



18% of the households in Albuquerque have sufficient incomes to afford rents of $400 per month  - Section 8, LIHTC, and other programs provide less than 8% of those households with support.  To turn the tide on the affordable housing problem, the City of Albuquerque developed a nationally recognized program whereby a large percentage of the renters in an apartment community subsidize a small percentage of the renters allowing them to achieve a housing expenses of 30% of their income.

Services Provided:

Market study to the City

Consulting services

Financial Analysis

Market Analysis

Presentation of findings to City Council



The City needed to refinance the existing bonds—a new bond program was developed that gave the City unparralled flexibility, an rock bottom low interest rate (sub 5% floating), and sufficient funds to renovate two of the three properties.