Over the last three years, NDG has assembled four adjacent land parcels amassing over 20 acres a few miles from downtown Santa Fe. Our investment in Santa Fe was fueled by a documented housing deficit that has emerged as the housing supply has lagged the strong employment growth in the broader region, including the highly paid and sophisticated employee base of Los Alamos. NDG’s plan for the Santa Fe Community spans two complementary phases. Phase 1 will consist of 194 Class A, market rate apartments. The complex will add a premier development in the Santa Fe market comprised of upscale finishes and amenities exceeding, or on par with, comparable communities. The Santa Fe community will be equipped with numerous premium amenities, including: gym, pool and poolside pavilion, pickleball, resident lounges, coworking spaces, dog park, storage and more.

To complete the envisioned Santa Fe community, NDG will execute a second phase of development. This expansion of phase 1 will include an additional 240 units across 10 acres. The phase 2 property sits adjacent to the Phase 1 site with direct access to Rufina Street, a main throughway. Like Phase 1, this development will offer extensive open garden space and shared amenities, including a clubhouse, pool, courtyard, dog park and more.

To ensure the success of this development, NDG has partnered with Dallas-based developer Realty Capital Residential (“RCR”). The RCR team has over 40 years of institutional experience and direct experience in Santa Fe and other Mountain West regions. RCR and parent company, RCP, specialize in complex entitlement cases and are one of the top mixed-use and master planned developers in the United States. The Company’s current land holdings total approximately 2,000 acres of prime commercial and residential tracts in various stages of development in Texas and Colorado.

This Northlake project benefits from its Opportunity Zone designation.