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  #781  
Old Posted Jan 27, 2021, 2:48 AM
ABQalex ABQalex is online now
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KRQE had a story yesterday about a poll the New Mexico United conducted to gauge support for their efforts to secure public money to build a new stadium in Downtown Albuquerque. The poll of 300 people showed 63 percent support the effort and 23 percent oppose. The story also talked about the city's request of $40 million from the state legislature during this session to help build the stadium. The United's owner says he is also working with the city to try to get a bond on the ballot in November to help finance the stadium construction. He also says there is $5 million raised so far in private money for the stadium effort.

https://www.krqe.com/sports/local-sp...occer-stadium/

KOB-TV recently reported on the UNM Hospital expansion. The report from Saturday said that construction would begin Monday (yesterday) on the first stage of the project, which is the new 1,400-space parking structure. That portion will cost $95 million. The report says that construction on the actual hospital building will begin in June. That portion of the project will cost $522 million. That means the total cost of the project has now risen to $617 million. The story says that the project will add 96 beds to the hospital.

https://www.kob.com/albuquerque-news...ollow/5987632/

The cost of the Bernalillo County @ Alvarado Square project has also risen, to a little over $67 million. KRQE reported yesterday that the county commission will decide tonight on $526,000 in extra funding for more furnishings in the building. The county had recently also approved an extra almost $2 million for Covid-19 protection measures for the project. The project is expected to be completed in April.

https://www.krqe.com/news/politics-g...rniture-costs/
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  #782  
Old Posted Jan 27, 2021, 3:32 AM
ABQalex ABQalex is online now
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Albuquerque has once again been named the best large city to live and work in the movie and television industry by MovieMaker Magazine, the third year in a row it has been number one. Santa Fe rose to number two among small cities.

https://www.moviemaker.com/best-plac...emaker-2021/5/



The magazine's editor was quoted by the Albuquerque Journal and had this to say about New Mexico's film industry and the impact of having the Netflix and NBCUniversal studios located here:

https://www.abqjournal.com/2352787/a...ll-cities.html

Quote:
Tim Molloy, MovieMaker Magazine editor-in-chief said New Mexico has become a major film and TV hub that has astonishing potential.

“Albuquerque and Santa Fe are very attractive draws for anyone looking for natural beauty, culture, and affordability — and thanks to huge investments by Netflix and NBCUniversal, among others, industry professionals no longer have to choose between quality of life and career opportunities,” Molloy said. “The rise of the Albuquerque-Santa Fe corridor is one of the most incredible movie and TV industry stories of the last decade, and we’re also intrigued by smaller, rising areas like Las Cruces.”
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  #783  
Old Posted Jan 27, 2021, 11:05 PM
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The Albuquerque TopGolf location is apparently completed and ready to open even with current Covid restrictions in Albuquerque. That's because it is considered an outdoor recreation venue like golf courses and can operate at 25 percent capacity even in the most restrictive red level that we are currently under in Bernalillo County. KOAT first reported this last night in a report that had comments and confirmation from City Councilor Pat Davis. Today the Journal is also reporting that the project is complete, with certificate of occupancy and food and beverage licenses issued. A company spokesperson tells the Journal they don't have a date yet for its opening.

https://www.koat.com/article/topgolf...tions/35314167

https://www.abqjournal.com/2353362/t...en-in-abq.html

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KOB-TV also reported on this last night in a story which includes information about the Revel Entertainment Center nearby. The owner of Revel says that he had to stop construction of the planned 2,400-seat concert facility last year but that he has now resumed construction. Some of the restaurants at the center are operating in a limited capacity.

https://www.kob.com/albuquerque-news...e-air/5990244/
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  #784  
Old Posted Feb 2, 2021, 3:22 PM
ABQalex ABQalex is online now
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Sandia National Laboratories released its annual economic impact report last week. It shows growth even during the pandemic and says that Sandia continued hiring hundreds of people last year. Overall, Sandia reports an economic impact of $3.68 billion.

https://www.sandia.gov/news/publicat...ic_impact.html

A recent aerial pic from a poster on Instagram showing part of the Sandia National Labs area on Kirtland Air Force Base, including the new NNSA Albuquerque Complex office building under construction at the center of the photo.


https://www.instagram.com/p/CKMswmsDyGO/

KOAT last week had an update on the Facebook data center construction in Los Lunas. It seems there will actually be 350 permanent jobs at the site, an increase of 50 from previous numbers given.

https://www.koat.com/article/faceboo...lunas/35354574

Video Link


I was finally able to get the county's building permit search function to work. All it took was requesting the desktop version of the site, lol. Anyway, the building permit for Project Nico describes it as a warehouse and office building, but elsewhere in the related records also mentions package processing. Whether it will be another fulfillment center for large items or a sortation center remains to be seen. The building permit fees paid so far total just under $300,000, which indicates to me a substantial project scope either way. The project has an address of 15480 Reservoir Rd. NW. All the same companies from Project Chico are named on the building permit for Project Nico.

https://aca-prod.accela.com/BERNCO/C...ncyCode=BERNCO

Below are the two latest Project Chico construction videos on Vimeo, the first one includes shots of the Project Nico site and the third construction site to the northwest.





The Albuquerque TopGolf location now has an opening date. It will open to the public this Friday.

https://www.krqe.com/news/albuquerqu...rque-location/

https://topgolf.com/us/albuquerque/







The new visitor center at the National Hispanic Cultural Center is nearing completion. The Albuquerque Journal last week had a report with pic of the new structure. It will include the box office for NHCC events, a gift shop and a meeting room.

https://www.abqjournal.com/2353984/n...ence-room.html



The Bernalillo County Commission at its meeting last week awarded the construction contract for the Route 66 Visitor's Center to Enterprise Builders Corporation. The project will begin construction sometime this month.

https://www.bernco.gov/public-works/...6#/BlogContent



Last week the County Commission also awarded nearly $39 million in project revenue bonds for two new affordable housing projects planned for the west side of Coors Boulevard just north of Bluewater Road. The San Roque Apartments will have 136 units for families in a four-story structure and received $27.9 million in bonds for its construction. The La Serena Apartments will have 78 units for seniors in a 3-story structure and received $11 million in bonds for construction.

https://www.bernco.gov/economic-deve...c#/BlogContent

There will also be 18 one-bedroom loft units above 9 garage structures scattered in the parking areas. It's unclear whether those were included in the total unit counts for the two buildings. No renderings are available, but the San Roque building is described as Southwest contemporary with flat roof, metal elements, brick and stucco. The La Serena structure is described as Southwest vernacular with pitched clay tile roofs and stucco. Below is a layout from the supporting documents for their zone change hearing before the EPC back in September. The land was previously zoned industrial but the EPC approved the change to mixed-residential to allow for the project.



Finally, an exciting new project has come to light from the agenda for this week's Development Review Board meeting. A new 6-story apartment building with 108 units is planned for the west side of Vassar Drive just south of Central Avenue in the UNM area. The project will be called The Strider and have 5 floors of apartments above a ground-floor parking garage. The project meets IDO requirements and is only before the DRB for review as a project with over 50 units. Neighborhood groups seem to be in favor of the project overall but of course there were grumblings about the height, traffic impact and relatively small number of parking spaces. The IDO of course allows and encourages minimal parking in a premium transit corridor like Central Avenue and a major activity center like the UNM area. The project also received a height bonus for having structured parking. The project is being developed by Rembe Associates who say they are targeting younger people who want a car-free life. Below are renderings and layout for the project from the DRB files.

https://documents.cabq.gov/planning/...03_%202021.pdf





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  #785  
Old Posted Feb 6, 2021, 8:48 AM
ABQalex ABQalex is online now
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The long-awaited renovation of the old Kmart at Carlisle and I-40 will finally be going forth after about three years of planning and overcoming neighborhood opposition. Carlisle Crossing will have 125,000 sq ft and it was just announced that a new 50,000 sq ft flagship concept Whole Foods will be the anchor tenant, the largest location in New Mexico.





This is such great news! I can't wait til it's completed, it's the last of the old Kmarts in Albuquerque that needed to be redeveloped. Carlisle Crossing will be a complete turnaround from the sad state it's in now, fenced off and derelict. That area will be getting quite the facelift! I hope the neighbors that were opposed to the project see how much better this will be, compared to what it has been since the Kmart closed.



In other good retail and commercial news, two projects which were in planning before the pandemic and were delayed by it are now moving forward. Free People will be opening its first store in New Mexico next month at ABQ Uptown. Fogo de Chão has also confirmed that it will be opening a location in Albuquerque, most likely at Coronado Center where a building permit application had been submitted early last year before the pandemic.

https://www.abqjournal.com/2356750/f...bq-uptown.html

https://www.abqjournal.com/2353379/b...ng-to-abq.html

Two other projects that I really hope will get back on track are the 4D theater at Winrock and the Carvana car vending machine in North I-25. We'll have to wait and see how things go nationally and when movie theaters reopen in New Mexico, but Carvana has resumed building new locations and vending machines after a pause brought on by the pandemic, so I think there's a good chance the Albuquerque vending machine will happen soon.

​The Albuquerque TopGolf location of course dealt with a huge bump in the road due to the pandemic but thankfully opened its doors to the public today! Below is a neat aerial video of it on YouTube.

Video Link


Here's a news report showing one of the preview events that happened earlier this week before the grand opening.

Video Link


​One bit of bad news is that the reconstruction of the I-25/Montgomery-Montaño interchange and braided ramp project has been pushed back for two years by the state due to additional work needed at Comanche, which is in design and will also increase the cost of the project to about $90 million.

Video Link
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  #786  
Old Posted Feb 9, 2021, 3:33 AM
ABQalex ABQalex is online now
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It looks like the Albuquerque Carvana car vending machine project is indeed back on track. Albuquerque Business First reported today that Carvana has filed for a building permit for an 8-story vending machine at 3800 Pan American Freeway NE, which is at I-25 and Comanche Road near the new Albuquerque TopGolf location.

https://www.bizjournals.com/albuquer...lbquerque.html

Quote:
Carvana may have taken a step toward bringing one of its famed car vending machines to Albuquerque, applying for a new building permit with the city.

The Tempe, Arizona-headquartered car retailer has a permit application under review for a nearly 5,800-square-foot structure at 3800 Pan American Freeway NE. The work description listed on the permit application filed Feb. 5 simply reads "car vending machine." As of Monday, that application has not been approved.

Carvana declined to comment to Business First on Monday.
The permit on the city's website:

https://posse.cabq.gov/posse/pub/lms...ctId=128361428

Below is a pic of a Carvana vending machine that was recently built in Greensboro, North Carolina by the same builder as listed on the building permit for the Albuquerque location, Arco/Murray. It's 8 stories and about 6,000 sq ft, which is also what will be built in Albuquerque. It's a cool structure and it will be very exciting to have one built in Albuquerque!

https://www.arcomurray.com/project/carvana/

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  #787  
Old Posted Feb 10, 2021, 12:28 AM
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Below are the latest Project Chico and Project Nico construction vids posted on Vimeo in recent days. The foundation for Project Nico is beginning to be laid. It looks like the footprint is a bit smaller than Project Chico's footprint. I'm thinking this will indeed be a sortation center and not another fulfillment center. It's early in construction though, so who knows for sure how big it's gonna be and what it will end up being. It's exciting though how quickly it is rising! I remember with Project Chico the cranes arrived on site shortly after this stage.





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  #788  
Old Posted Feb 10, 2021, 5:49 AM
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Again- appreciate all the updates. Interesting developments!
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  #789  
Old Posted Feb 11, 2021, 7:21 AM
ABQalex ABQalex is online now
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Originally Posted by bleuler View Post
Again- appreciate all the updates. Interesting developments!
Thanks! Yes, things are starting to get interesting and really heat up in Albuquerque. I think this will be an exciting year for development in Albuquerque and may even prove to be pivotal for the future of this city. Lots of things proposed which will utterly change the landscape and trajectory of the city. I've got my hopes up and my fingers crossed!
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  #790  
Old Posted Feb 11, 2021, 7:23 AM
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KRQE had a story tonight about the former Pine Needle apartments at Winrock, which have been renamed as the Winrock Lofts. They also talk about the Strider apartments towards the end of the report. If you read the story on their website they also mention another apartment project in the planning stages at Winrock and say that the dual-branded hotel is scheduled to begin construction in August. The Winrock Lofts are slated to begin construction late this year.

https://www.krqe.com/news/albuquerqu...tment-complex/

Video Link


A story on KRQE yesterday talked about the city's priorities and wishlist for funding from the state for projects during this year's legislative session. On their website they have the entire list posted. The funding requests include the $40 million for a downtown soccer stadium but also include money for such things as the Sawmill portion of the Rail Trail, money for the Rail Yards, money for the ART station at San Pedro in the International District, and money for a revamp of the Kiva Auditorium at the Convention Center. An interesting item I noticed is planning and preparation money for a performing arts center in Albuquerque. I wonder if this has anything to do with the Civic North proposals? There's also requests for the renovation of the MLK memorial downtown, a new Asian American cultural center, expansion of the Albuquerque Museum and more money for the Explora Science Center expansion that's underway.

https://www.krqe.com/news/politics-g...city-projects/

Video Link


Finally, another story by KRQE about New Mexico United's effort to show the legislature the public's support for the stadium funding request. They are asking people to fill out a form on their website by tomorrow morning as a letter of support that they can email to the legislature. The form has the wording of the letter of support that will be sent, for those interested and willing to fill it out.

https://www.krqe.com/sports/local-sp...occer-stadium/

Here's the link to fill out the form and send an email of support: https://p2a.co/NMUnited
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  #791  
Old Posted Feb 13, 2021, 9:47 PM
bleuler bleuler is offline
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Some interesting news on the former Bank of the West and Dept of Health buildings on Central and San Mateo

https://ignitefunding.com/ggd-oakdal...17-new-mexico/
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  #792  
Old Posted Feb 14, 2021, 5:07 AM
ABQalex ABQalex is online now
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Originally Posted by bleuler View Post
Some interesting news on the former Bank of the West and Dept of Health buildings on Central and San Mateo

https://ignitefunding.com/ggd-oakdal...17-new-mexico/
This is very cool to find out about! I hope they are successful in their endeavor! A revamped facade on the former Bank of the West building and 150 apartments in the Two Park Central tower would be awesome! I've been following those buildings and saw that they recently were bought at auction. The new owner simply alluded to improvements they wanted to make, but never did I imagine it might be this transformative. It's very exciting!

I would also love to eventually see a new mixed-use structure built between the two buildings in the parking lot. I could see a 5-8 story building with commercial space on the grund-floor facing San Mateo, 2 or 3 decks of parking and then topped with 4-5 floors of apartments above that.

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  #793  
Old Posted Feb 14, 2021, 7:06 AM
ABQalex ABQalex is online now
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KRQE had a report last night about the Carvana car vending machine in Albuquerque. They interviewed the city's planning director who expects construction to get underway in the summer. They give a price tag of $5 million for the project. They also have a rendering of the project. It will be 76 feet tall and employ about a dozen people.

https://www.krqe.com/news/business/c...o-albuquerque/



Video Link


The Albuquerque Journal reported late last week that El Pollo Loco will be coming to Albuquerque and has plans for eight locations.

https://www.abqjournal.com/2358783/e...querque-2.html



Downtown Albuquerque News reported this past week that Bernalillo County has determined that it is not feasible to move the old house at 6th and Coal where it wants to build a supportive housing apartment complex for homeless veterans and families. They say a structural assessment they commissioned has shown that the structure likely wouldn't survive a move and also there aren't any companies in New Mexico who can do such a move. The county will use this Information in their appeal to the City Council to overturn the Landmarks Commission decision and allow the demolition of the structure.

I think they should just build the complex on the site of the old county jail once it is torn down. That seems like a win-win solution to all these issues and not wanting another surface parking lot created in Downtown Albuquerque.

https://downtownalbuquerquenews.com/



Downtown Albuquerque News also recently had a picture of the new color going onto the Alvarado Square building. Below is the pic, as well as two more recently posted by the contractor HB Constructs on Instagram, plus a few screencaps of the other side of the building and an interior shot from a vid they recently posted on Instagram as well.












https://www.instagram.com/hbconstructs/

The Tiny Homes Village finally opened to its first residents this past week after months of delays.

https://www.krqe.com/news/albuquerqu...dents-move-in/

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  #794  
Old Posted Feb 19, 2021, 7:43 PM
ABQalex ABQalex is online now
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The Albuquerque Journal is reporting that Facebook plans to expand its data center in Los Lunas with an additional six buildings. That would double its size and result in billions more in construction and more permanent jobs at the site. The company is requesting IRBs totaling $6.6 billion from the Los Lunas Village Council, which will vote on the proposal next month. That number represents the company's total investment in Los Lunas once all 12 data center buildings are completed. The story says that the fourth building of the current project is nearing completion and the fifth and sixth are under construction. It also says that if the bonds are approved two more buildings costing $800 million would get underway within the next two years. No overall date or timeline for the expanded project's construction and completion is given.

https://www.abqjournal.com/2361379/f...ta-center.html

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  #795  
Old Posted Feb 27, 2021, 5:51 AM
ABQalex ABQalex is online now
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Recent pics and vids of the Amazon construction projects on the Westside posted on Instagram and Vimeo.

Project Chico


https://www.instagram.com/p/CLapIXDHYpd/





Project Nico


https://www.instagram.com/p/CLct7lDFFLH/



A construction pic of the initial phase of the UNM Hospital expansion posted recently by a utilities mapping consulting group that is working on the project.

https://highmesacg.com/projects/univ...nter-projects/



Recent aerial pics of the pedestrian bridge between Presbyterian Hospital and The Highlands from the same consulting group's website as above.

https://highmesacg.com/projects/high...strian-bridge/





Pics of the visitor center construction at Valle de Oro National Wildlife Refuge in the South Valley. The project is nearing completion and work on the exhibits and information kiosks is underway. On Saturday there was a virtual town hall/tour of the project on the Valle de Oro Facebook page.

https://www.facebook.com/ValleDeOroN...ildlifeRefuge/





A rendering of the completed interior of the visitor center from Ideum, the designer of the exhibits and information kiosks.

https://www.ideum.com/news/valle-de-oro-visitor-center



A pic of the refuge.



A story from KRQE last week about the new $17 million Australia exhibit at the Rio Grande Zoo, which is scheduled to begin construction in July and be completed in late 2022. It will include a new species of penguins for the zoo, blue penguins, and the re-introduction of koalas after the zoo's last koala died five years ago. It will also include a new crocodile habitat with a larger pool and indoor and outdoor viewing areas. Other species included in the exhibit and which will be receiving new or improved habitats are kangaroos, wallabies, wombats and Tasmanian devils. The story also mentions that the new Asia exhibit is getting ready to open its initial phase later this year and the new Americas exhibit, which is in the works as well.

https://www.krqe.com/news/albuquerqu...-by-fall-2022/



The Albuquerque Botanic Garden has been named as one of the 12 best in the U.S. by the Travel Channel.

https://www.travelchannel.com/intere...dens-in-the-us

Video Link


The entire Albuquerque BioPark is in the midst of a $275 million capital improvements program that was approved by voters a few years ago. It is New Mexico's most-visited attraction, with over 1.5 million visitors a year in normal times.

KRQE last week reported on the renovation of the former Bank of the West building and Two Park Central tower. They interviewed City Councilor Pat Davis, who represents the area. He says over the last few years there have been about 300 new residential units built in the area and this project will further help with the transformation of the area. The story also says that the company behind the project is the same California company behind the conversion of the former Wyndham Hotel in Midtown Albuquerque into the BLVD 2500 apartments.

https://www.krqe.com/news/albuquerqu...ank-buildings/



The video report of the KRQE story also shows the Broadstone Nob Hill construction.

Video Link


One small residential project in the area that was recently completed is a 12-unit apartment building on a formerly vacant lot at La Veta Drive and Zia Road just northeast of the 2 towers. Below is a cropped image I made from one of the auction photos for the buildings showing the project from the west.



Another, larger project in the works to the southwest of the buildings is the 92-unit Hiland Plaza apartments by the Greater Albuquerque Housing Partnership. Albuquerque-based Construction Reporter late last year had a story about the financing effort for the project, which is expected to cost $20 million to construct.

https://www.constructionreporter.com...ousing-complex



KRQE this week had a story about plans to convert another old hotel/motel in Albuquerque to apartments. The Ramada Inn on Hotel Circle NE near I-40 and Eubank would be completely renovated with new modern finishes and turned into a 206-unit apartment complex. The plans are currently going through the city's approval process.

https://www.krqe.com/news/business/d...to-apartments/

Video Link




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  #796  
Old Posted Feb 27, 2021, 6:32 AM
ABQalex ABQalex is online now
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Recent pics of the 42-unit Hope Village supportive housing project for homeless people under construction just north of Downtown Albuquerque. They were posted last week by Downtown Albuquerque News and Pavilion Construction.


https://downtownalbuquerquenews.com/


https://www.facebook.com/pavilionconstruction/

The 92-unit Luminaria Senior Community apartments had a virtual groundbreaking earlier this month and are now under construction.

https://www.bizjournals.com/albuquer...-underway.html





Titan Development's 281-unit Allaso High Desert apartments near Academy and Tramway NE have also begun construction.

https://www.bizjournals.com/albuquer...gh-desert.html




https://www.facebook.com/pavilionconstruction/

Another of Titan's new Allaso-branded projects has been revealed in DRB agendas and documents. The 108-unit Allaso Vineyards apartments will be built on Holly and Ventura NE just north of Paseo del Norte.







The 156-unit Ceja Vista Senior Apartments next to Atrisco Heritage Academy High School on the far Southwest Mesa received their building permits at the beginning of the year and are under construction.





The Ceja Vista apartments are directly west of the new 240-unit Valle de Atrisco apartments that were just recently completed.

https://www.gslvalledeatrisco.com/



The 88-unit Nuevo Atrisco apartments had their official grand opening and ribbon cutting earlier this month in a ceremony attended by the mayor. At the ceremony the developer said he hopes to get the commercial portion of the project underway this spring.





https://www.bizjournals.com/albuquer...-westside.html

https://www.krqe.com/news/business/c...o-development/

Video Link


One Central announced a new residential lofts project for the building late last week on its Instagram account.



Looking up the building permit on the city's website reveals more details about the project.

https://posse.cabq.gov/posse/pub/lms...ctId=128819336

The 10 new lofts will go into about 11,200 sq ft of former commercial space on the third floor of the west-facing side of the building. That will reduce the amount of commercial space in the building by about a fourth of the 45,000 sq ft of space originally available. It's a bit disappointing to lose commercial space but good to have more of the building occupied, especially with the uncertain future for office space because of the pandemic. Total residential units in the building will increase to 78, all market-rate units.

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  #797  
Old Posted Mar 4, 2021, 10:42 PM
ABQalex ABQalex is online now
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Finally we have official confirmation and reporting of Amazon's two other projects on the Westside. Albuquerque Business First is quoting the company as saying the two additional projects are a delivery station and sortation center and will add hundreds more permanent jobs in Albuquerque. It quotes the company as saying the delivery station on Bluewater Rd NW opened in January. It also says the Project Nico sortation center will be 275,000 sq ft. However, the company and media outlets continue using footprint square footage in their announcements and reporting, which makes no sense at all. It's as if they want to conceal how big these buildings really are, especially the fulfillment centers.

https://www.bizjournals.com/albuquer...-presence.html

The two most recent Project Chico videos on Vimeo, which also show progress on Project Nico in the background.





From the size of the tilt-up walls going up it looks like the Project Nico sortation center will be mostly one level but may have an interior mezzanine. It probably is about 275,000 sq ft, but the Project Chico fulfillment center is very obviously much bigger than the original 465,000 sq ft figure given and the "over 600,000 sq ft" they are now saying it is.

Before this announcement, I had seen the 275,000 sq ft figure for other new-build sortation centers elsewhere in places like Birmingham and Des Moines. What I've also seen in those other places is that Amazon is building a few other additional delivery stations and facilities. As I've said all along, I believe Amazon has other projects still in the works for Albuquerque, most likely another delivery station closer to the Heights and maybe a cargo facility at the airport. They may even have a delivery station planned for Rio Rancho and far northwest Albuquerque or maybe even the southern portion of the metro like Los Lunas or the Sunport South Business Park, which had figured into the original Amazon rumors.

It will be exciting to see and find out what may be next from the company in Albuquerque!
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  #798  
Old Posted Mar 5, 2021, 10:26 PM
ABQalex ABQalex is online now
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The Orion Center went before the Development Review Board on Wednesday. KRQE reported about the meeting and project. The project also began applying for building permits for its foundation earlier this week.

https://posse.cabq.gov/posse/pub/lms...ctId=129822458

https://www.krqe.com/news/business/o...n-albuquerque/

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  #799  
Old Posted Mar 7, 2021, 7:25 AM
ABQalex ABQalex is online now
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Location: Albuquerque, NM
Posts: 577
Albuquerque Business First and KRQE yesterday both reported on the Springer Square Sky Link project. The final development agreement will be voted on next Thursday by the Albuquerque Development Commission. The final development agreement has also been posted on the city's website under the agenda items for next week's ADC meeting.

http://www.cabq.gov/mra/albuquerque-...endas-archives

https://www.bizjournals.com/albuquer...skybdrige.html



https://www.krqe.com/news/albuquerqu...ridge-project/

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From the updated development agreement it seems the developer has up to 30 months to also begin construction of at least 140 "Unit Equivalents" on any combination of the parcels at the site. Unit Equivalents are defined as 1 residential unit, 1 hotel room or 550 sq ft of commercial space. The developer has up to five years from the date of the agreement to complete at least 70 of these 140 Unit Equivalents or must pay back $500,000 of the $1 million in funding that the city is agreeing to provide for the project.

The developer would receive bonuses in the form of parking lease rebates ranging between $3 and $10 off the $40 cost per space per month if they begin and complete construction of the Unit Equivalents in a quicker timeframe than is allowed in the agreement, dependent on number of units and timing. The developer is committed to leasing 184 parking spaces in the Convention Center parking structure for 20 years. The overall Sky Link project will cost $6 million, not including the future "Unit Equivalents" development.

The city will also be getting a guaranteed right of way for the Rail Trail as part of the agreement.







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Old Posted Mar 7, 2021, 8:28 AM
ABQalex ABQalex is online now
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Join Date: Dec 2019
Location: Albuquerque, NM
Posts: 577
A pic of the UNM Hospital expansion project taken late last month and posted on Instagram.


https://www.instagram.com/p/CLstLdSBsaT/

Pics of the Presbyterian Hospital expansion project taken last week and posted on Instagram.




https://www.instagram.com/p/CL9yttSFh-6/

A neat aerial pic of the Explora X-Studio expansion project that was taken on Friday and posted on Instagram.


https://www.instagram.com/p/CMDMu8xAWhk/

Another neat aerial pic of the Broadstone Nob Hill project that was taken over a month ago but which I still thought I'd post because of the unique perspective.


https://www.instagram.com/p/CKkYXu2pZQP/
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