Renovations on the historic Luna Lodge in Albuquerque are nearly finished, and tenants will move in shortly after Thanksgiving, reported the New Mexico Business Weekly.
The Route 66 motel at 9119 Central Ave. is being transformed into low-cost housing by NewLife Homes.
The 1950s-era motel has been converted to 14 apartments and a new 16-unit wing has been added to the north part of the property located along the city’s International Zone. Bloomfield said the project is 30 percent pre-let and the units are designed to serve those most in need of affordable housing.
NewLife also owns the adjacent former Mexican restaurant as part of the Luna project and is considering several options for it that would dovetail with the 1950s-era theme and NewLife’s mission.
The project’s financing included a $1.2 million grant from the city of Albuquerque, and the Mortgage Finance Authority supplied $1.3 million in construction loans and $3.2 million in federal tax credits.
The Luna was built in 1950 and placed on the National Register of Historic Places in 1998. It had been vacant for years.