Principal and Marketing Development, Northlake Development Group
Northlake Development Group is excited to celebrate an important milestone for The Piñon at Cerrillos, our 194-unit Class A multifamily community in Santa Fe, New Mexico. JLL Capital Markets has secured construction financing for the project on behalf of our development partner, Realty Capital Residential, marking a major step toward bringing this premier residential community to life.
Northlake acquired the development site in 2023 with a vision of creating a modern apartment community that delivers both exceptional living and lasting value. Together with Realty Capital Residential, we have assembled an experienced team that will transform this prime location into one of Santa Fe’s most desirable new residential destinations.
Located at 3471 Cerrillos Road, The Piñon at Cerrillos sits between the Santa Fe Regional Airport and Historic Downtown Santa Fe, providing residents with convenient access to shopping, dining, entertainment, healthcare, government employment centers, and Los Alamos National Laboratory. Positioned within a federally designated Opportunity Zone and surrounded by the Sangre de Cristo Mountains, the community offers an ideal balance of accessibility and outdoor recreation.
The development will feature five residential buildings with 194 studio, one-bedroom, and two-bedroom apartment homes averaging 761 square feet. Each residence will include premium finishes such as stainless steel appliances, quartz countertops, full-size washers and dryers, walk-in closets, and spacious patios or balconies.
Residents will enjoy an extensive collection of resort-inspired amenities, including a resort-style pool with tanning deck and hot tub, outdoor pavilion with grilling stations, pet spa, 24-hour fitness center, yoga studio, resident lounge, co-working spaces, expansive clubhouse, and 24-hour emergency maintenance services.
The Piñon at Cerrillos arrives at a critical time for the Santa Fe housing market. Continued population growth, expanding employment opportunities, and increasing demand have contributed to a significant housing shortage, with median home prices rising 44% between 2019 and 2024. Strong apartment fundamentals—including sustained rent growth and healthy absorption—underscore the need for thoughtfully planned, high-quality multifamily communities.
Construction is expected to begin in Summer 2026, with completion anticipated in 2028. RVC Construction will serve as general contractor, while Cross Architects designed the community.
For Northlake Development Group, The Piñon at Cerrillos represents more than another development—it reflects our commitment to redefining modern living through carefully selected locations, exceptional design, and communities that enrich the lives of residents. Together with Realty Capital Residential, we look forward to delivering a community that helps address Santa Fe’s housing needs while setting a new standard for luxury multifamily living.
