Washington Place

Washington Place is a 76-unit development located on three sites in Hobbs, New Mexico. HW Development conducted a rehabilitation of the project, which was funded by 4% low-income housing tax credits allocated by the New Mexico Mortgage Finance Authority and tax-exempt bonds issued by the City of Hobbs. The New Mexico Mortgage Finance Authority also provided a HOME loan to the development for use during the construction and permanent phases. The tax credit syndicator for the project is CREA.

Development Highlights

  • Location: Hobbs, NM

  • Units: 76

  • Housing Type: Family

  • Architect: Ground Floor Design

  • LIHTC Equity: CREA

  • Construction Loan: Stifel

  • Permanent Loan:  Wilmington Trust, N.A

  • Low-Income Housing Tax Credit Agency: New Mexico Mortgage Finance Authority