Chamisa Verde: Affordable, Sustainable Living in Taos

Own a Home in Taos. Live with Purpose.

Chamisa Verde is a new deed-restricted housing development offering 7 energy-efficient,
site-built workforce homes for local Taos workers and local residents.

What Is Chamisa Verde?

A pilot project by the Town of Taos and Pangea Design | Build, Chamisa Verde creates permanently affordable housing that is energy-efficient, community-rooted, and designed for long-term local ownership.

Why Deed-Restricted Housing?

To ensure long-term affordability, community stability, and local access, all Chamisa Verde homes are protected by a permanent deed restriction. These legal safeguards are recorded with Taos County and enforced by the Town of Taos and its Administrator (currently Pangea Academy).

The deed restriction ensures:

• Affordability for future generations through a capped resale formula (with no side deals), preventing speculation.

• Local connection: applicants must show 12 months of Taos County residency, 36 months of Taos work within the last 60, and meet a Local Income Test (≥ 75% of earned income from a Taos-based employer or business). At least one purchaser who will hold title to the property must demonstrate that no less than seventy‑five percent (75%) of their gross earned income is derived from employment or self‑employment conducted within Taos County. Compliance with this requirement shall be verified by Pangea Academy prior to final selection and approval following the buyer lottery and must remain true as of the date of closing.

• Full-time owner occupancy: live in the home at least 275 days/year; no second homes, no vacation/short-term rentals, no absentee investors.

• Income-based eligibility: total household income ≤ 120% of HUD AMI, plus lender-verified Ability-to-Pay standards.

• Fairness in selection via a randomized, anonymous lottery to eliminate bias and favoritism.

• Clear documentation & monitoring: eligibility verified at intake and closing, with annual re-certification (Feb 1) and proof of property-tax payment.

Financing note: Chamisa Verde includes a 5% soft-second mortgage that satisfies the down-payment requirement. No cash down payment is required. Buyers are responsible for standard closing costs (grants/credits allowed with documentation).

These protections prevent speculation and displacement, prioritize access for local workers and residents, and keep homeownership achievable for the next generation of Taoseños.

Location

Chamisa Verde is located in the heart of Taos County — walkable to schools, parks, and services.

• On Camino de la Cruz Alta
• 5 minutes to downtown
• Mountain views and quiet streets
• Adjacent to future community green space

live feed of the construction jobsite.

Sustainable, Efficient, Local Construction

Built by local tradespeople using high-performance materials and passive design principles:

• High Insulation Values in Walls and Roof.
• All-electric systems (heat pumps, induction-ready)
• Low-flow plumbing and LED lighting
• New Mexico Local Lumber and Cement
• Future solar-ready infrastructure
• 3D-Printed with Concrete & Steel

Who Can Apply?

To qualify for a home at Chamisa Verde, applicants must meet all of the following eligibility criteria. These requirements are enforced by the Chamisa Verde Deed Restriction Agreement and verified by the Administrator (currently Pangea Academy) and the Town of Taos.

How to Apply

The Chamisa Verde application process is simple, transparent, and fair. Here’s how it works:

1) Submit the Online Intake Form

Start by submitting the Chamisa Verde Intake Form. It collects:

• Household details

• Taos residency and work history

• Income estimates

• Unit preference

• Basic financial profile

Once submitted, your information will be reviewed by the Administrator (currently Pangea Academy). If you appear to meet preliminary eligibility, you’ll be invited to attend an orientation and complete next steps.

2) Attend a Chamisa Verde Orientation

Join a required session hosted by the Administrator (with the Town and partner lenders) to learn about:

• The homes and their design features

• Eligibility requirements & deed restrictions

• Long-term affordability and owner responsibilities

• Mortgage pre-qualification & financing options

Attendance is mandatory to move forward.

3) Complete Required Education & Counseling

Before qualifying for the buyer lottery, all applicants must complete:

• An 8-hour HUD-certified homebuyer education course

• A 1-on-1 financial counseling session with an approved provider

These ensure buyers are mortgage-ready and supported for long-term success.

4) Provide Required Documentation

Submit documents to verify eligibility (self-employed alternatives noted):

• Most recent federal tax return and W-2s (and/or 1099s for contractors)

• Proof of Taos County residency for the last 12 consecutive months

• Proof of Taos work history: 36 months within the last 60 months (can be non-consecutive).

  • Acceptable: pay stubs, employer letters (confirming Taos work location & dates), payroll/VOE, or

  • Self-employed: NM TRD CRS/GRT registration + recent GRT returns showing Taos activity (plus business license/lease/utility as applicable)

• Mortgage pre-qualification letter from a Town-approved lender (30-year fixed)

• Valid government-issued ID for all adult household members

• Bank statements showing funds for closing costs and any lender-required reserves (note: no cash down payment is required—covered by the program’s 5% soft-second)

• Any other required verifications (e.g., retirement income, Social Security, child support, non-occupant co-borrower affidavit, etc.)

All documents are reviewed for completeness and compliance with Chamisa Verde rules.

5) Enter the Anonymous Buyer Lottery

Once verified, you’ll be entered into a randomized, anonymous lottery conducted by the Town of Taos with the Administrator.

• All qualified applicants are treated equally

• No scoring or preferences are used

• Alternates are drawn in case of withdrawal/disqualification

6) Prepare for Purchase

If selected, you will:

• Complete final mortgage underwriting and approval

• Sign the Chamisa Verde Deed Restriction Agreement

• Receive a Buyer Orientation Certificate (Appendix E)

• Schedule closing with the designated New Mexico title company

Then move into your new, permanently affordable, deed-restricted home—built for Taos, of Taos, and by Taos.

• 1,000sf – $191,000
• 900sf – $172,000

Employment & Work History

• Local Work History: At least 36 months within the last 60 months of qualifying employment in Taos County (months may be non-consecutive and across multiple employers; self-employment counts with NM TRD CRS/GRT registration and Taos-based activity).

• Local Income Test: At least one purchaser who will hold title to the property must demonstrate that no less than seventy‑five percent (75%) of their gross earned income is derived from employment or self‑employment conducted within Taos County. Compliance with this requirement shall be verified by Pangea Academy prior to final selection and approval following the buyer lottery and must remain true as of the date of closing.

• Legitimate business means registered with the NM Secretary of State (if applicable) and holding NM TRD CRS/GRT registration, with a bona fide Taos County place of business.

(Note: There is no “30+ hours/week” requirement—eligibility is income/location-based.)

Residency Requirement

• Lived full-time in Taos County for 12 consecutive months immediately prior to applying.

• Proof required (e.g., lease/mortgage, utilities, NM DL/ID, voter registration).

Retirees

• Age 60+, and currently a full-time Taos County resident (12-month residency).

• Previously met the Local Income Test and completed 60 consecutive months of qualifying Taos County employment immediately prior to retirement.

• Provide retirement income documentation (e.g., Social Security, pension).

Homeownership Status

• Applicants must not own another primary residence in Taos County at purchase.

• If currently owned, applicant must list within 30 days of selection and complete sale within 120 days.

Income Eligibility

• Total gross household income ≤ 120% of HUD AMI (by household size).

• Income is verified for all adult household members (tax returns, pay stubs, benefits).

• (Post-purchase income increases do not disqualify owners if the Local Income Test and residency continue to be met.)

First-Time Homebuyer Status (Required)

At least one titled buyer must meet the FHA first-time homebuyer definition, including any of the following:

• No ownership of a principal residence in the past 3 years; or

• Single parent/displaced homemaker who owned only with a former spouse; or

• Only prior ownership was a mobile home not permanently affixed; or

• Prior residence was substandard and too costly to bring to code.

Documentation Requirements

Applicants must provide (as applicable):

• Employer verification and recent pay stubs (or self-employment NM CRS/GRT + returns)

• Federal tax return(s); bank statements

• Proof of 12-month Taos residency

• Proof of 36/60 Taos work history

• Mortgage pre-qualification letter (30-year fixed)

• Government-issued ID for all adult household members

• Funds for closing costs and any lender-required reserves (note: no cash down payment is required—covered by the program’s 5% soft second)

• Completed intake form, eligibility checklist, and certificates for orientation, education, and 1:1 counseling

Lottery Selection

All qualified applicants who complete intake, documentation, and orientation requirements will be entered into a fair, anonymous lottery conducted jointly by the Town of Taos and the Administrator. This ensures equal opportunity, transparency, and community-centered access to these permanently affordable homes.

Important Dates:

• Intake Opens: August 27
• Deadline to Apply: November 25
• Buyer Selection Lottery: December 15
• Attend an Info Session — schedule to be announced. Join our mailing list to be the first to know.

Community Voices

“Chamisa Verde gives us hope that Taos can remain a place where local people can thrive.”
– Local Teacher, Prospective Homebuyer

“Finally,  homes built for locals, by locals, with a long-term vision.”
– Taos Resident & Builder

Our Partners

Brought to you by:

Pangea Academy

Pangea Biotecture

Moose Works

Cobod

Mountain Mesa & Construction

ABC Supply

Reliance Steel

Taos Crane

Western Wood Products

Stay Informed

Get updates on application openings, construction progress, and future housing opportunities.

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Pangea Academy is committed to Fair Housing. We do not discriminate based on race, color, religion, sex, disability, familial status, national origin, gender identity, or sexual orientation. Learn more →

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