Clearinghouse CDFI provided a $550,000 refinance loan for Bella Vista Townhomes, a multi-family affordable housing property in Clovis, New Mexico. The development includes eight residential buildings and one community center on a 5.43-acre site, offering 60 affordable homes for very low-income households, plus one on-site office.
About Bella Vista Townhomes
Bella Vista consists of 30 two-bedroom and 30 three-bedroom homes, all reserved for households earning 31%–50% of area median income (AMI). This ensures that working households in Clovis have access to stable, affordable homes. Residents benefit from community amenities including a clubhouse, business center, basketball court, BBQ area, and playground. The property is managed by YES Housing, a nonprofit dedicated to building and revitalizing communities through affordable housing and supportive services.
Long-Term Affordability Protections
All 60 townhome units are protected by a 45-year Land Use Restriction Agreement with the New Mexico Mortgage Finance Authority. This agreement restricts the property to rent-controlled affordability through 2054, preserving affordability well into the future.
Strengthening Curry County
Alongside its affordability, the property is also located in a federally designated CDFI Investment Area, reinforcing regional stability in Curry County. Clovis serves as a commercial and cultural hub for eastern New Mexico and is home to Cannon Air Force Base, further anchoring the local economy. The county’s strong manufacturing base, along with growth in education and retail, positions it for continued economic vitality. Clearinghouse CDFI is proud to support the availability of multi-family affordable housing like Bella Vista Townhomes, helping working communities achieve stability and self-sufficiency.
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