Developer Brenner Campbell presented a proposal on Oct. 28 for an off‑base multifamily housing development aimed at junior enlisted service members assigned to Holloman Air Force Base.

Campbell said the total cost for the initial phase was about $19.9 million and that the New Mexico Finance Authority (NMFA) has approved a $15 million first‑lien loan for the project. He said the project, which would be located on the north side of Alamogordo near Mesa Verde Ranch Road, is designed as apartment‑style and duplex/quad units rented by the bedroom (two‑bedroom units yielding two rentable bedrooms per unit in the developer's model). Phase 1 would provide roughly 160 bedrooms; the full site could ultimately reach about 530 bedrooms across multiple phases.

Campbell said he was requesting $1.5 million in LITA assistance to pay for roads, water and sewer extensions and other infrastructure, which he described as a shortfall of roughly $4.9 million for the project to be fully financeable. Campbell said the NMFA loan would be at about 4.5% interest and that lenders were reluctant to provide mezzanine or subordination options. He said construction could begin in January if the financing package is complete and that initial move‑ins could begin about 10 months after groundbreaking.

Commissioners asked about contingency options if the city declined LITA funds and whether the developer could scale the project. Campbell said the economics rely on the number of beds and NMFA underwriting; reducing beds would undermine the loan. He also described the project's economic impacts: an estimated $5 million in local annual spending with phase 1 and up to $20 million when fully built, plus on‑site management jobs and ancillary spending.

The presentation prompted extended discussion but no formal commission action. The commission asked staff and the developer to continue coordination on the proposal and noted they will consider funding decisions in the context of other LITA requests.