Laguna Housing Development and Management Enterprise to bring 20 new townhomes to community

Laguna, N.M. - (Jan. 24, 2023) - Laguna Housing Development and Management Enterprise (LHDME) recently closed with equity investor RBC Community Investments to begin construction on its $15 million affordable housing development, Laguna #3. The development will provide 20 new townhomes and a community building for community members on the Laguna Pueblo in Laguna, NM.

"The Laguna #3 Low Income Housing Tax Credit project is a new development that will provide needed housing for the low-income families of the Pueblo of Laguna and is the first of a few housing opportunities LHDME and the Pueblo of Laguna are working together on," said Jamie Navenma, executive director of LHDME. "LHDME is happy to announce that new homes, amenities and opportunities are coming together for the tribal members of the Pueblo of Laguna, and we can't wait to get this project started. Kwa'kwah/Dawa'eh to all who have helped get this project started."

Laguna #3 received a 2022 Low Income Housing Tax Credit (LIHTC) award from the New Mexico Mortgage Finance Authority that generated $7.8 million in investor equity from RBC Community Investments for the development.

"RBC Community Investments is proud to be a partner in LHDME's third LIHTC development," said John Galfione, a director at RBC. "We are excited to see construction progress and welcome families in need of high quality, affordable housing to their new homes."

Laguna #3 includes the new construction of 20 townhomes in three separate buildings, an attached community building and playground areas. The three buildings include 12 two-bedroom units and eight three-bedroom units in a modern, Pueblo-inspired design.

The project is targeted to and intentionally designed for families with children. The site layout is unique. There are three distinct buildings and a centralized community space all opening toward the community amenities. Travois Design, project architect, specifically designed the buildings to mitigate excessive noise. Energy efficiency is also emphasized in the design and includes a well insulated and sealed building envelope, energy star rated doors, windows, and lights, low-flow water fixtures and faucets, and durable materials like concrete flooring, and tile tub surrounds.

LHDME partnered with Travois for consulting, architecture design and asset management and compliance services. Travois is a Certified B Corporation focused exclusively on promoting affordable housing and economic development for American Indian, Alaska Native and Native Hawaiian communities.

"We congratulate LHDME as it begins construction," said Trent Rogers, senior project manager at Travois. "The new development will provide families with safe, affordable housing and new community amenities. We are proud to partner with LDHME on the first new development of affordable housing on the Pueblo in nearly twenty years."

Residents will have access to a community space, basketball court, and accessible playground areas for children under 5 and children 5 to 12 years old. The attached community building is 1,308 square feet and will offer space for supportive services and allow for general residential use such as gatherings. All services will be held on-site in the community space and will be offered at no charge to the tenants. Services to be provided to the families include health and nutrition classes, health screenings, computer trainings, tutoring, youth character building, and financial literacy.

About the Low Income Housing Tax Credit

The housing credit provides the private sector with an incentive to invest in affordable rental housing for low-income families. Since President Reagan signed it into law in 1986, the housing credit has financed the construction and preservation of more than 3.6 million affordable homes nation-wide. Today it produces virtually all new affordable housing and is the nation's primary tool for preserving existing affordable housing. The housing credit supports low-income families, veterans, people with disabilities and seniors in rural, suburban, urban and tribal communities. For more information, visit rentalhousingaction.org.

About Laguna Housing Development and Management Enterprise

The Laguna Housing Development & Management Enterprise (LHDME) is the Tribally Designated Housing Entity (TDHE) of the Pueblo of Laguna. LHDME's mission is to develop and manage affordable housing within the Pueblo of Laguna reservation. LHDME has served as the Pueblo's TDHE since 1997. As the TDHE, LHDME manages annual grant proceeds of $1.5 million and manages a portfolio of 96 affordable units. Laguna #3 is LHDME's third tax credit project but first since 2005.

About RBC Community Investments

RBC Community Investments is a leading syndicator of Low Income Housing Tax Credits, Renewable Energy Tax Credits, Historic Tax Credits, State Tax Credits, and Workforce/Impact Housing. By creating well-structured investments, our team of experienced professionals helps create the development of affordable multifamily communities and renewable energy solutions throughout the country. For more information, visit http://www.rbccm.com/communityinvestments.

About Travois

Travois is a Certified B Corporation focused exclusively on promoting housing and economic development for American Indian, Alaska Native and Native Hawaiian communities. Since 1995, Travois has brought investor equity to more than 247 developments through the Low Income Housing Tax Credit (LIHTC) program and New Markets Tax Credit (NMTC) program, making an impact of more than $1.7 billion across Indian Country. These private investor funds have helped build or rehabilitate 6,124 homes and have helped finance critical economic developments, including infrastructure, health care, community centers, education facilities and job incubators. The Travois family of companies also offers architectural design, construction monitoring services, consulting on green energy improvements, asset management and compliance services, impact investment models, and comprehensive training to clients in 22 states. For more information, please visit travois.com.