Deal Finalized to Convert Lamplighter Inn to Affordable Housing
Matt Lynn, Project Consultant
New owners will hold a public forum via Zoom on May 25 at 5:30pm to inform the community about project details and answer questions.
Santa Fe, NM — Final negotiations for the sale and transfer of The Lamplighter Inn at 2405 Cerrillos Road concluded Tuesday, May 10, setting the stage for renovation and development work to begin on the property. At the conclusion of the project, the former hotel will feature 58units of affordable housing that will rent for $725 to $825 per month. Leases will be reserved for those earning 80 percent of the area median income (AMI) or less, and 25% of the units will beset aside for those with special needs who require supportive services to remain stably housed.
The hotel was purchased for $3.2 million by Bella Luz Apartments 2022 LLLP, a partnership between The JL Gray Company and Anchorum St. Vincent, with Anchorum St. Vincent serving as the majority owner. The team is currently in talks to bring on an additional mission-aligned nonprofit organization whose model is well suited for long-term property ownership. Once selected, this nonprofit partner will hold a majority stake and will ultimately have the opportunity to become the property’s sole owner in twenty years at the end of the compliance period.
“We are pleased to see this project take this important step forward,” said Jerry Jones, Chief Executive Officer of Anchorum St. Vincent. “We are equally pleased that this was truly a community undertaking. We are working together across multiple organizations, with our elected officials, and with local and state agencies to address affordable housing—one of the most pressing issues we face as a city and as a region.”
Key operational partners on the initiative include Anchorum St. Vincent, The JL Gray Company, The Life Link, and the New Mexico Coalition to End Homelessness. Funding for the purchase and conversion is provided by Anchorum St. Vincent, Santa Fe County, The City of Santa Fe, New Mexico Department of Finance and Administration (DFA), New Mexico Mortgage Finance Authority (MFA), Santa Fe Community Foundation, and the Thornburg Foundation
“Hotel conversions are a cost-effective and timely way to address our region’s housing shortage,” explained Katherine Miller, Santa Fe County Manager. “This is one of many tools we are deploying to address the housing needs of our residents, and to ensure that everyone who calls Santa Fe home has a safe place to sleep.”
Mayor Alan Webber added that the Lamplighter conversion aligns with the city’s priority to develop affordable housing.
“This project is another step in our ongoing commitment to provide affordable housing for Santa Fe residents,” said Webber. “Working in concert with our partners, we’re excited about helping to produce 58 living units on a fast-track basis.”
Neighbors and community members are invited to attend a virtual public meeting onWednesday, May 25 at 5:30pm to learn more about the project. More information and a Zoomlink are available at s3santafehousinginitiative.org/lamplighter/.
About S3 Housing Initiative
The S3 Santa Fe Housing Initiative is a collaborative of organizations that share an overwhelming desire to protect and provide safe, secure housing for our most vulnerable residents, as well as affordable, stable housing for all community members. This collaboration is made possible by generous contributions from Anchorum St. Vincent, Santa Fe Community Foundation, Thornburg Foundation, McCune Charitable Foundation, City of Santa Fe, and Santa Fe County. For more information, visit s3santafehousinginitiative.org/.
About The Lamplighter Initiative
The Lamplighter Initiative is a collaborative hotel renovation project to create more affordable housing for the residents of Santa Fe. It is made possible by the following partners and funders:
The Learning Hub: A Source of Knowledge, Connection, and Growth
Being a learning organization requires active listening and a willingness to continuously adapt and share knowledge. One way we accomplish this is through our Learning Hub, a source of connection, engagement, and growth among New Mexico nonprofits.
Santa Fe Community Foundation receives largest gift in its history
The Santa Fe Community Foundation is pleased to announce it has received an estate gift worth more than $8.5 million from the late Deborah and Martin Fishbein. The gift is the largest donation in the foundation’s 42-year history.
Santa Fe's Affordable Housing Challenge and the S3 Response
Residents of the City Different face a housing squeeze that has become the norm across America. The ingredients are familiar: record median home prices, a limited housing stock, and a rising population. The S3 Santa Fe Housing Initiative is working to address this challenge.