A first for Surge of Santa Fe Apartment Projects: Affordable housing
Site work started in June on a 171-unit apartment complex that will be the first to meet Santa Fe’s affordable housing requirements.
The 171-unit Casa Siena complex, 5750 Airport Road, will be the first market-rate apartment project in Santa Fe to make 15 percent of its units affordable rather than opt to pay the in-lieu-of fee to the city as some 20 other apartment projects have chosen.
Texas-based real estate development, investment and management firm Presidium Group acquired the city-approved development plan from local Santa Fe development team Raul Ramirez, Richard Valdes and Ben Teasdel. The local team in 2019 had proposed the 223-unit Casa Azul project for the southeast corner of Airport and South Meadows, pledging in its development plan to offer 15 percent and potentially 20 percent of units at affordable housing rates.