Fifty Years of Housing New Mexico
50 Stories from 50 Years
For five decades, we've been dedicated to transforming lives through housing. As we celebrate our journey, we're sharing 50 powerful stories—told through photos, videos, and personal experiences from those we've helped along the way—as well as highlighting the individuals who have contributed to Housing New Mexico's milestones.
Every week, we’ll unveil two new stories, building up to our Housing Summit in September. Come back often, explore our history, and see firsthand the impact we've made together. You won’t want to miss a single story!
Day 1
As we gear up for the 2025 New Mexico Housing Summit, we’re launching 50 Stories from 50 Years —a journey through the moments that shaped Housing New Mexico. Day 1 of 50: The House Bill that started it all (1975) Rep. Adele Cinelli Hundley recruited legislators who “had the political muscle” to get the proposed housing agency legislation passed. Reps. Cinelli Hundley, Raymond Sanchez and Edward Lopez introduced the Mortgage Finance Authority Act as House Bill 88 during the 1975 State of New Mexico legislative session (32nd legislature).
Day 2
A Housing New Mexico (then known as New Mexico Mortgage Finance Authority) employee and pillar of the community who gave his life to affordable housing, received his first loan in 1976 under the Loans to Lenders program. New Mexico lost a great and unselfish advocate for the poor, rural families and Native American housing with the loss of Schmeider in 2016.
Day 3
First bond ever! In December 1976, Housing New Mexico made history with its first-ever bond issue—a $20 million bond sale! 💰 This milestone helped lay the foundation for expanding affordable housing opportunities across the state. Pictured here in 2015, former Rep. Adele Cinelli Hundley, and lobbyist and chairman of Housing New Mexico’s first board of directors Toby Michael, were instrumental in the success of Housing New Mexico in 1976, when the first bond issue was executed.
Day 4
Our first home: Did you know? After working out of rented space for several years, Housing New Mexico purchased its first office building in 1979 at 115 Second Street in Albuquerque. Payment on the building, known as the Roger Cox building, was only $621 per month! Even the furniture and equipment had a unique story—they were purchased from the Gallup Urban Development Agency.
Day 6
Our Second Home: Another move! In 1985, Housing New Mexico settled into its new home at 344 Fourth Street SW in Albuquerque. Originally built for the city's YWCA in 1940-1941, this historic gem was designed by Gordon Ferguson Architects and constructed by JE Morgan & Sons for just $4,500.
Day 8
Housing New Mexico expanded its homeownership programs in 1991 to include down payment and closing cost assistance. The assistance put the dream of homeownership within reach of many families who lacked the resources to cover a down payment.
Day 7
When Housing New Mexico bought the YWCA building on Fourth Street in 1985, it was renovated to accommodate a staff of 26. Part of the remodel involved removing a gas station located in the front lot, which belonged to PNM, whose offices were directly to the west. After the transfer of state housing programs to Housing New Mexico in 1997, the agency experienced rapid growth. In 2000, the building underwent a major renovation that added more than 13,000 square feet of space. By the time Housing New Mexico moved out of the Fourth Street building in September 2024, the staff had grown to about 120.
Day 5
Beginnings: Reflecting on the early days of Housing New Mexico (1979-1983). From left to right: Tom Hundley, first executive director; Toby Michael, chairman of the board; former Gov. Bruce King; and Larry Griffis, first deputy director. We are proud of our beginnings and the journey ahead!