$11.5M OK’d in apartment bonds

The Bernalillo County Commission has approved up to $11.5 million in revenue bonds for the planned Arroyo Vista apartments at 4201 Bryn Mawr NE.

The developer, Arroyo Vista LLP, will receive property tax breaks of $29,291 a year for 52 years. However, the company will be required to pay the county $11,000 a year in administration fees.

Plans call for 190 apartments with a mix of one-, two- and three-bedroom units. All will be available to people who qualify for affordable housing.