EL PASO – The Ruben Salazar housing project, consisting of dozens of boarded-up townhome-style buildings, has been a ghost town since the city housing authority closed it in 2019. That’s about to change.
The property will be renovated to the tune of about $93 million, plus over $56 million for construction. Part of the financing is a $56.8 million loan from JP Morgan Chase.
The city’s award of a $6.5 million federally funded Community Development Block Grant for the renovation was key to completing the project’s financing.
The project is expected to be completed in 2½ years.