City now renting 90 apartment units converted from hotel

ALBUQUERQUE, N.M. — All of 90 units at Los Altos Lofts, a hotel converted to permanent housing, are now available for rent, the City of Albuquerque confirmed Tuesday.

In May, the city made 49 units available for rent. Now, property manager Monarch Properties is accepting applications for the other 41 units.

Located on Hotel Avenue, near Lomas and Eubank, the city purchased what was the 104-room hotel in April 2023 and began converting them into 90 efficiency and one-bedroom apartments.

This is the city’s first hotel/motel conversion project. Mayor Tim Keller and other city officials describe this as “a key component of the Housing Forward Initiative.”

“Completing Los Altos Lofts is a step in the right direction, but we’re not done,” the mayor said. “We will continue leveraging every dollar available and exploring all possible options to build more affordable housing and motels into affordable housing.”

Units are available to people making as much as 80% of the area’s median income. According to the city, residents can apply for project-based vouchers, which are available based on income. Qualifying residents will have their rent capped at 30% of their income with the voucher covering the rest.

“Those interested in applying to rent at Los Altos Lofts can do so in person. Interested applicants are encouraged to schedule an appointment by calling Monarch Properties,” a rep said.

You can call Monarch Properties at 505-548-6054.