• detail image of project

    CCDFI provided $3.4MM in financing for the redevelopment and historic preservation of the motel.

  • detail image of project

    Once complete, the motel will feature an additional 18 rooms and serve over 1,400 patrons annually.

Monterey Motel

The Monterey Motel is located along New Mexico’s famous Route 66. Once a beacon in the heart of Old Town Albuquerque, it catered to countless road weary travelers during the 1940s and 1950s. In recent years, however, this historic motel has fallen into a state of disrepair and blight.

Clearinghouse CDFI provided $3.4 million in financing for the redevelopment and historic preservation of the Monterey Motel.

Revitalization efforts will restore the Monterey to its original aesthetic and preserve its historical significance as a Route 66 landmark. Motel redevelopment will create 15 construction jobs. Once complete, the motel will feature an additional 18 rooms and serve over 1,400 patrons annually.

Download the PDF: Just Funded – Monterey Motel

Financing Provided:
$3.4 Million Loan
Location:
Albuquerque, NM
Impact:
- 1,400 patrons served annually
- 18 additional motel rooms
- 15 construction jobs created
Purpose:
$3.4 Million in Financing to Revitalize and Preserve a Historic Motel on Route 66
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