City deep in development negotiations for big projects
Damon Scott
Reporter-
Albuquerque Business First
Albuquerque's Metropolitan Redevelopment Agency is working on a slew of high-profile projects that have the potential to transform their respective corridors.
Rebecca Velarde, the Metropolitan Redevelopment Manger, said a couple of the projects have ended the request for proposals (RFP) phase — which are then evaluated by committees who send recommendations to the MRA for approval. Others, she said, are in the midst of negotiation agreements with developers in lieu of starting construction. The MRA promotes redevelopment of both housing and commercial projects, often in neighborhoods that are considered distressed. Here's a breakdown of some current projects, according to Velarde.
1) Entertainment District: An ad hoc selection committee is evaluating proposals for the site at 1st Street and Central Avenue in Downtown. The RFP is now closed, and a developer should be chosen in February or March.
2) De Anza Motor Lodge: The RFP is also closed for proposals to redevelop the site in East Nob Hill. It is expected that it will come out of an ad hoc selection committee phase in March or April, when a developer will be announced.