Current Projects

New Mexico

Villa de Tularosa is an existing 22-unit HUD 202 development that provides housing for seniors and disabled individuals with incomes at or below 50% of the area median income. This renovation will upgrade the entire property (budget of $25,000/unit). Improvements include renovation of the common area facilities, making the clubhouse handicapped accessible and upgrading the resident meeting space. The resident’s homes will benefit from energy efficiency improvements (new refrigerated air/furnace systems, new doors, new windows, CFL lightbulbs, new EnergyStar rated refrigerators), unit upgrades (new cabinetry, new countertops, new kitchen ranges and hoods, and new flooring where appropriate). A portion of the units will have roll-in showers installed to further assist the disabled resident population. All buildings will be re-roofed, landscaping and parking will be repaired. The property’s rehabilitation is funded by the Mortgage Finance Authority’s HOME Program, Primero and Weatherization funds. YES Housing, Inc. is serving as the developer. The Villa de Tularosa Apartments are owned by Villa de Tularosa Senior Housing, Inc. – a corporation owned by Tierra Del Sol Housing Corporation.

YES Housing, Inc. executed a lease agreement with La Promesa Early Learning Center Charter School to redevelop an abandoned church building currently located on vacant property owned by YES Housing, Inc. to accommodate the expansion of their Charter School. La Promesa opened in 2004 with 26 students and has grown to currently serve approximately 290 students, grades Pre-K-6th. La Promesa Early Learning Center ensures that culturally and linguistically diverse students thrive in an academic; family centered; developmentally seamless continuum of learning; where high expectations, respect and empowerment meet grade level proficiency.

School administration anticipates purchasing this building from YES Housing within the next seven years. The school is scheduled to expand into this additional site January 1, 2011. Renovations are currently in the design phase.

Texas

Presidio Dolores is the proposed new construction of a 36-unit 2, 3, and 4-bedroom duplex style apartment community for Farm workers with incomes at 50% and 60% of the area median income. Design work is compliant with local San Elizario historic district requirements and all apartments will include a front porch, covered rear patio, and attached one-car garage. Presidio Dolores has received a funding commitment from USDA-TDRO for a 514 1st mortgage loan with rental assistance for 100% of the residents, as well as a preliminary Tax Credit award from the Texas Department of Housing and Community Affairs. YES Housing, Inc. is the co-developer on this project, along with Housing Economic Rural Opportunity, Inc. (HERO). HERO, Inc. will serve as the managing general partner.