With news of the county’s affordable housing project, along with the renewed hope for the Elevate project, and expanding off of what the DAN story was getting at in terms of adding new housing Downtown, I wanted to compile and show the current prospects and planned projects in terms of adding new residential units in Downtown Albuquerque.
These are all projects that have been announced in the last few years and have been in the news or had some sort of movement in about the last year or so. All of them face various hurdles in coming to fruition and are far from sure things, but still, they are at least standing proposals and may be on the road to coming to fruition soon.
The Downtowner - 219 units
Elevate @ 3rd + Lomas - 174 units (both phases)
Wells Fargo Building - 104 units (conversion)
6th and Coal - 65 units
Artspace - 60 units
Tower Plaza - 49 units (entire structure)
Total - 671 units currently proposed
Here also are the residential projects that have been completed in Downtown Albuquerque in about the last five years since 2020. This hasn't been a very fruitful period, but at least we've had new housing units built, no matter how small. I think it shows that the effort and will is there to continue to bring projects to fruition no matter the recent and current headwinds and malaise.
2020 - Anthea @ The Granite - 23 units (conversion from extended-stay hotel)
2021 - Lofts at One Central - 10 units
2021 - Ibiza Townhomes - 6 units
2021 - 317 Gold - 2 units (conversion)
2022 - 913 Silver - 6 units
2023 - Villa Agave - 15 units (conversion)
2023 - Palladium Townhomes - 16 units
Total - 78 units added in last 5 years
And here are the residential projects that were completed in the last decade from 2010 to the end of 2019. This was a good decade for adding housing in Downtown Albuquerque, with nearly 1,000 units added.
2010 - Elements Townhomes - 8 units
2010 - Crossroads Flats - 25 units (conversion)
2010 - Downtown @ 700 2nd - 72 units
2010 - Silver Gardens 1st Phase - 66 units
2012 - Silver Gardens 2nd Phase - 55 units
2014 - Anasazi Downtown - 45 units
2014 - Casitas de Colores - 71 units
2014 - Silver Moon Lodge - 151 units
2016 - Mehran Lofts 1st Phase - 61 units (conversion)
2016 - Imperial Building - 74 units
2017 - 505 Central - 34 units (conversion)
2017 - Lobo Rainforest - 155 units (310 beds)
2018 - One Central - 68 units
2018 - Sterling Downtown - 107 units
Total - 992 units added in 2010s
Going back even further, here are the residential projects completed from 2000 to 2009 in the first decade of our current era of Downtown revitalization efforts. They begin with the Villa de San Felipe, which was the first new apartment complex built in Downtown Albuquerque in the 15 years since the Alvarado Apartments were built during the 1980s revitalization push. (The Anson Flats are townhomes and were a recreation of a historic structure that burned down 5 years previously)
2000 - Anson Flats - 7 units (rebuild)
2001 - Villa de San Felipe - 161 units
2002 - Acropolis Condominiums - 6 units
2003 - Royal Fork Lofts - 14 units (conversion and new construction)
2003 - Banque Lofts - 27 units (conversion)
2005 - 100 Gold - 32 units
2005 - 600 Central - 16 units (conversion)
2005 - 610 Central - 16 units (conversion)
2005 - Silver Lofts 1st Phase - 18 units
2007 - Silver Lofts 2nd Phase - 29 units
Total - 326 units added in 2000s
Grand total - 2,067 units (1,396 completed, 671 planned)
All of these projects are within the new Downtown 2050 Metropolitan Redevelopment Area boundaries. There are of course projects in adjacent areas, sometimes literally across the street from these boundaries, such as the Lofts at Old Albuquerque High and the Zocalo Lofts, but I wanted to cut it off somewhere and have firm boundaries for what constitutes Downtown Albuquerque proper. And the new MRA boundaries below in blue are where we will officially focus our Downtown redevelopment efforts for at least the next 25 years.
If we can successfully get the 671 units currently proposed to come to fruition we would be much more respectable in this decade compared to the last. Of course, the hope is that even more projects will be forthcoming in the second half of this decade, such as in the "Spark" areas highlighted in the Downtown 2050 MRA Plan. Union Square and the Wells Fargo parking lot are places where we may also see some new projects proposed. We shall see how that all pans out, but like always, I'm hopeful!
Here's a nice pic of Downtown Albuquerque that Visit ABQ recently added to its website.
https://www.visitalbuquerque.org/