SANTA TERESA, New Mexico (KTSM) — A new private community being built in Santa Teresa is expected to be completed mid-2024 and it will offer new housing opportunities to past and future residents.
According to the Border Industrial Association, Santa Teresa is one of the fastest growing area in New Mexico.
The community is filling the need for more housing opportunities for residents, according to officials in Santa Teresa.
“This will be the first where people can individually own a quadruplex in the area,” said Adrienne Dominguez with Amar Real Estate Group.
The new private community will sit on 16 acres of land and will provide homes for over 200 people.
“We’re seeing an unprecedented amount of growth. And we need employees to fill the jobs that are being created. But oftentimes we’ve had a situation in Santa Teresa where you have beautiful homes, good developers doing beautiful homes, but they’re out of reach for, let’s say, an entry-level worker or somebody that’s buying even a second home,” Jerry Pacheco, president of the Border Industrial Association, said.
Dominguez told KTSM that interest rates have increased over the past few years putting the market in a housing crisis.
Las Brisas will allow people to “house hack.”
This “allows people to share the cost of living by living in one unit and renting out the others,” Dominguez said of what owning a quadruplex can mean.
Pacheco said many people are discovering the region where you could get more house for your money.
“It’s great because one of the things we needed so badly in this region is a multifamily housing,” Pacheco said.
To learn more about Las Brisas, click here.