News: Longtime developer’s latest projects aim to give veterans a fresh start

**Aggregator** · 11-04-2013, 09:53 PM

11-04-2013 09:17 PM

Longtime developer’s latest projects aim to give veterans a fresh start

Chuck Sheldon of T&C Management is working on three apartment complexes, which will be marketed to veterans. In this 2010 file photo of Sheldon, he's pictured at a southeast Albuquerque triplex that T&C revamped.

It’s a business strategy Chuck Sheldon began in 2009 that has been moving forward since.
Chuck Sheldon, owner of Albuquerque’s T & C Management, is fully into his next apartment project after cutting the ribbon on the newly rehabilitated $1.5 million Western Palisades development last month.
Western was previously the Phoenix apartments, a project that is indicative of the kind of strategy Sheldon has found successful — working with the city and other agencies on properties that had been foreclosed on or were considered community blights. Those properties are rehabbed and rented to low-income residents.
Sheldon has turned his focus to three apartment complexes that are being marketed to men and women veterans who are facing challenges. Some of these veterans, Sheldon said, have been in and out of homelessness and living on the streets; some have dealt with drug and alcohol problems; some have spent time in jail. He said the average age of these veterans is about 55 to 60, and some have physical disabilities.
The projects are located in areas of the city that Sheldon said need to be spruced up with new commercial development. Near San Mateo Boulevard and Zuni Road, Sheldon has two complexes, around 65 units that have been rehabbed or are in the process of being redone. The two are adjacent to each other on Ortiz Drive, not far from where a John Brooks Supermart recently closed.
Sheldon is rehabbing all of the units into remodeled studios with rates around $460 to $525 per month, including utilities, so that veterans can afford to rent them with assistance from the Veterans Administration and other agencies. His other project aimed at veterans is at 220 Charleston St. SE, a 32-unit project he says is aimed specifically at female veterans.