Santa Fe Real Estate: 710-Home Subdivision Approved + Airport Road Construction Update

Welcome to Santa Fe Real Estate with Leland Titus — your Development Wednesday! Today we cover the biggest development stories shaping Santa Fe real estate.

710-Home Esencia Subdivision Approved

Santa Fe County approved the Esencia subdivision, a 710-home community west of Rancho Viejo using a Public Improvement District to fund infrastructure. One of the largest residential approvals in recent years, bringing significant new inventory to the south side.

312-Unit Turquoise Trail Apartments

Turquoise Trail broke ground adding 312 affordable units backed by $58M in tax credit equity. Apartments start at $1,033/month for families at 60% AMI or below.

Airport Road Phase One Construction

The city is investing $5.5M in complete street improvements from Cerrillos Road to NM 599. Phase Two kicked off this week with completion expected end of May 2026.

GRT Tax Exemption Could Boost Development

State legislators proposed eliminating gross receipts taxes on affordable housing — saving $7M on Turquoise Trail alone, enough for 26 more units.

Key Takeaways

• More housing supply coming through major developments
• Infrastructure investments improving roads and accessibility
• City budgeted $5M for affordable housing in FY2026
• Policy changes could accelerate affordable housing

Contact Leland Titus at lelandtitus.com for all your Santa Fe real estate needs.

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