Ortiz Apartments (1301 – 1335 Ortiz Dr. SE)

Office: (505) 255-8275 ~ 1335 Ortiz Dr. SE, Albuquerque, NM 87108

The Ortiz Apartments are under the RTC/FDIC Affordable Housing Program. A designated percentage of units within the complex are set aside for Low & Very Low Income individuals or families.

Low  / Very Low Income housing is for individuals or families with low annual household income. Basically, the purpose of low income housing is to provide places for individuals to live at a reasonable cost for them to afford. To qualify as a Low Income tenant, a household’s annual (gross) income must not exceed 80 percent of the median income $60,000. A Very Low Income household must have an annual (gross) income equal to or less than 50 percent of the area median income $60,000, after adjusting for family size, as defined by HUD and the FDIC.

http://www.nmmfa.org/files/AssetManagement/Forms/2010%20FDIC%20Income%20%26%20Rents%20MFA.DOC

Section 8 or housing choice voucher program (HCVP):  is a federal housing program that provides housing assistance to low income renters. This assistance is provided to 3 groups of people, the disabled, seniors, and working families with minor children. Section 8 or HCVP comes in the form of a rental subsidized basis, which includes the monthly rent payment of the person who needs the assistance.

Ortiz Apartments has 1.895 acres primarily consists of 4-plex units encompasses an entire city block. The collection of units consists of Granada Terrace, private garden one story 4-plex bungalows (7x 1 story 4-plexes) with vaulted ceiling, walk in closet, backyard; Taurus North & South (2x 2 story 4-plexes) with very large interior space; and Brandon Tree (a 2 story 16-plex) all with off street parking. 52 units in all, consisting of 28x one bedroom one bath @ 633 sf, 12x one bedroom one bath @ 578 sf, 2x two bedrooms one bath @ 1,033 sf, 6x two bedrooms one bath @ 849 sf, 4x two bedrooms one and half bath @ 840 sf, separate office, 4x laundry rooms, 2x maintenance rooms, and x28 storage units.