Preparing Rail Yards for development could cost up to $80 million
Kai Porter
KOB 4
The City of Albuquerque has big plans to redevelop the Rail Yards, south of downtown.
The site sits mostly in disrepair, used mainly for the Rail Yards Market and film shoots.
The city wants to change that.
"Creating a public, private partnership that helps bring a lot more activity and energy to the site," said Lawrence Rael, the city’s chief operating officer.
A consulting firm estimates it could cost between $50 million and $80 million dollars to get the site ready for redevelopment.
It needs contamination cleanup, structural renovations and infrastructure.
The city is still in the process of finding ways to fund the project.