By Stephanie Guzman, report for Albuquerque Business First:

The city of Albuquerque's Workforce Housing Trust Fund has provided funding for a number of notable multifamily projects around town, from affordable housing in the Sawmill neighborhood to Downtown's Casitas de Colores.

Since 2007, the city has allocated about $31 million towards affordable housing projects, according to a city report. And it has no plans to slow down this year.

"We are able to stimulate the construction industry, as we provide additional financing that bridges the gap between what a bank can underwrite and the amount of equity the tax credits can generate for a (affordable housing) project," said Douglas Chaplin, director of Albuquerque's Department of Family and Community Services, said in an interview.

The city's next affordable housing project is proposed on 4th Street NW, a couple blocks south of Candelaria Road NW. The city bought the 5-acre property in 2014, and will move forward with plans to develop it. Bernalillo County is also contributing towards the project.

Chaplin said the city completed the site's environmental testing, and is seeking bids to demolish the property's existing structures. The lot is mainly used as a construction yard, with several brick buildings and metal sheds.

Chaplin said the city expects to release a request for proposals for the development during the second quarter of this year. He said the RFP will call for a mixed-use project that has retail on the bottom floor with offices and apartments on the top floors. Click here to read more.