Recent progress in large-scale construction has marked significant steps forward for key projects in the area. Construction has commenced on major affordable housing developments, with additional state-funded initiatives gaining momentum.
Affordable Housing Gains Traction
Dominium Development kicked off construction at Turquoise Trail following a January groundbreaking, part of 55 active multifamily projects supported by Housing New Mexico. The 312-unit complex features 120 two-bedroom, 132 three-bedroom, and 60 four-bedroom apartments, backed by $2 million from the New Mexico Housing Trust Fund, $2 million HOME loan, and $57.7 million in low-income housing tax credits over 10 years.[1] Construction remains active as of early 2026.[2]
"This is a much-needed development in Santa Fe, and many families will benefit from this affordable housing opportunity," said Jeff Payne, Housing New Mexico Chief Lending Officer.[1]
Separately, phase two of an affordable subdivision in southwest Santa Fe is set to begin construction in early March, encompassing 20 homes sized 1,100 to 1,300 square feet on 3.5 to 4 acres. The project receives $675,000 from the city’s Affordable Housing Trust Fund and $6.5 million from the state Department of Workforce Solutions.[3]
State Office Expansion
A $95 million allocation in the state’s $1.25 billion capital outlay bill targets a new three-story executive office building adjacent to the Capitol. After years of planning, the funding positions the project for advancement.[4]
These initiatives, particularly the multifamily developments, are projected to generate substantial professional opportunities. Housing New Mexico’s 55 active projects are expected to create 17,329 jobs and $1.41 billion in local income.[1]
Looking ahead, completion of initial phases and bidding for further work on the office building will offer continued prospects for architects, engineers, and construction managers in the coming months.