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Coyote Mesa

Los Alamos County, New Mexico


 

 

Coyote Mesa is a large-scale, mixed-income workforce housing development located on the County-owned A-8-A parcel in Los Alamos. Servitas was selected through a competitive public procurement process, the project addresses a critical housing shortage by delivering deed-restricted homes for households earning approximately 60% to 120% of Area Median Income, serving the County’s essential workforce and “missing middle.” 


Coyote Mesa is designed as a walkable, community-oriented neighborhood that responds to Los Alamos’ unique topography and cultural context. A diverse mix of apartments, flats, walk-ups, and townhomes is organized around open space, trail connections, and gathering areas, with architecture informed by traditional New Mexico forms and adapted for modern, energy-efficient living. 


The development leverages Servitas’ proven tax-exempt public-private partnership (P3) structure, eliminating developer equity to reduce cost of capital and long-term rent pressure and benefits from strong public partner participation. The County has purchased $2M in deed restrictions for low-income residents, and the State has awarded Servitas a $4.9M grant for predevelopment expenses. All excess project cash flow is returned to Los Alamos County, and ownership of the improvements will transfer to the County following bond repayment, ensuring permanent public benefit.

Project Details

Institution 

Non-Profit


Progress 

In Development 


Size

464,100 GSF

380 Units


Project Timeline

Concept Approval : March 2026

Construction Kickoff : Fall 2026

Construction Completion : 30 months
 

Transaction Structure

Tax-Exempt Debt, 501(c)(3) Conduit Ownership 

$4,964,800 State Grant Funds 

$2,000,000 County Funds 


Cost  

~$191,000,000

 

Key Team Members

Architect: 

PGAL

Underwriter:

Raymond James

Management: 

Servitas Management Group  

General Contractor: 

Moss Construction

Servitas

5525 N MacArthur Blvd suite 900, Irving, TX 75038, USA

972.759.1600

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