Albuquerque Development Thread

[DanskeUtahn]

Any new highrise development going on in Albuquerque?

[mgs11]

Nothing right now.

[DanskeUtahn]

That's too bad, Albuquerque could use an addition to its skyline. It has the Sandias as a nice backdrop!

[mgs11]

Originally Posted by DanskeUtahn

That's too bad, Albuquerque could use an addition to its skyline. It has the Sandias as a nice backdrop!

Agreed!

[mgs11]

BernCo set to buy Downtown office building

By Marie C. Baca
Abuquerque Journal Staff Writer

Bernalillo County officials have announced plans to purchase the Alvarado Square office building in Downtown Albuquerque for $2.7 million – a dramatically lower price than the 2013 market price of $11 million.

The purchase agreement, which was signed Jan. 17, will need to be approved by the County Commission before April 17 to complete the transaction. The county has already paid $75,000 in earnest money.

The purchase will be financed with money the county has in savings. Those funds will then be replenished through the issuance of gross receipts tax bonds, as well as through the sale of some of the more than 150 buildings the county has in its inventory.

[mgs11]

‘505 Central’ bringing new lofts, life to old Sears building

By Jessica Dyer
Albuquerque Journal Staff Writer

ALBUQUERQUE, N.M. — An 80-year-old Downtown building that once housed Lovelace and Sears will soon be actual housing — plus offices, a coffee shop and restaurants.
Albuquerque architect Mark Baker has begun a mixed-use redevelopment of the property at the northwest corner of 5th and Central. The project, dubbed “505 Central,” will include 34 loft apartments and commercial space for his architecture firm, a second location of his cafe, Humble Coffee Company, and other tenants that should include two restaurants.

Work has begun on the 58,000-square-foot project, Baker’s first Downtown development. It should open by July.

Baker declined to provide the cost of the development, which was designed by Baker A+D, financed by Washington Federal and will be built by Insight Construction.

[southtucsonboy77]

Originally Posted by mgs11

‘505 Central’ bringing new lofts, life to old Sears building

By Jessica Dyer
Albuquerque Journal Staff Writer

ALBUQUERQUE, N.M. — An 80-year-old Downtown building that once housed Lovelace and Sears will soon be actual housing — plus offices, a coffee shop and restaurants.
Albuquerque architect Mark Baker has begun a mixed-use redevelopment of the property at the northwest corner of 5th and Central. The project, dubbed “505 Central,” will include 34 loft apartments and commercial space for his architecture firm, a second location of his cafe, Humble Coffee Company, and other tenants that should include two restaurants.

Work has begun on the 58,000-square-foot project, Baker’s first Downtown development. It should open by July.

Baker declined to provide the cost of the development, which was designed by Baker A+D, financed by Washington Federal and will be built by Insight Construction.

Excellent reuse.

[Obadno]

Where are all of our ABQ and Sante Fe people??

[mgs11]

Big Central Avenue project moves forward

Christopher Ortiz
Managing Editor
Albuquerque Business First

A major mixed-use project on Central Avenue got a key city approval Thursday.

The city's Planning Commission approved phase two of The Highlands project, which includes a mixed-use, multifamily community with ground-floor retail and the Marriott Springhill Suites Highlands hotel. The 10-acre community, across the street from Presbyterian Hospital, is being developed by Titan Development and Maestas Development Group. The project area's boundaries are Interstate 25 to the west, Central to the south, Sycamore Street to the east and Copper Avenue to the north.

[mgs11]

Brewery expanding into old Jackalope building

Colton Shone
KOB 4

The craft beer scene in New Mexico is growing so fast that many microbreweries are expanding. Now a building that has sat empty for years is undergoing a major redevelopment to make way for Bosque Brewing Company.

Crews are finally doing the initial phase of demolition at the old Jackalope building on U.S. Highway 550 along the Rio Grande. The huge empty structure will undergo a major renovation to a massive commercial space with Bosque Brewing Co. as the anchor tenant.

"This is the coolest project that I've been a part of so far," operations director Jotham Michnovicz said.

[mgs11]

Goodman Realty exec on what future could hold for Hotel Andaluz and more

Shelby Perea
Digital Producer
Albuquerque Business First

Goodman was the company behind the redevelopment of Downtown's Hotel Andaluz. Sand said one possibility for Albuquerque could be "Andaluz Two," a second tower for the Hotel Andaluz Downtown, where the south parking lot currently is. Sand told Albuquerque Business First that idea would depend on how Albuquerque's economy grows and whether there is demand for a second tower in the future. He said with Albuquerque Rapid Transit and Innovate ABQ, the economy could get a boost and prompt Andaluz to grow.

[mgs11]

Lobo Rainforest building rising at Innovate ABQ

By Kevin Robinson-Avila
Albuquerque Journal Staff Writer

[IMG]InnovateABQ building by mgs11, on Flickr[/IMG]

ALBUQUERQUE, N.M. — Come August, at least 95 percent of the 155 student apartments being built at the forthcoming Innovate ABQ research and development site Downtown are expected to be filled.

The University of New Mexico began accepting applications and reservations this month for students who want to live in the six-story Lobo Rainforest building now under construction at the old seven-acre Baptist Church property at Central and Broadway. That’s where UNM, the city, the county and private partners are working to create a modern, high-tech research and development district.

The $35 million,160,000-square-foot facility is rapidly rising and on schedule to open in August, say developers, who broke ground last July. It will house entrepreneurial development programs and startup businesses on the ground floor, and up to 310 students in two-bedroom apartments, priced at $674 a month, on the top five floors.

[mgs11]

City looking for developers to create 'iconic' Downtown high-rise

May Ortega
Reporter
Albuquerque Business First

The Duke City is looking to real estate developers for a growth spurt, as announced by Mayor Richard Berry at the monthly NAIOP luncheon Monday morning.

“It has been 27 years since Albuquerque has seen an iconic high-rise building,” Berry said. “I believe it’s about time to add to our skyline another building that will further spur economic opportunity in the heart of our city.”

Berry and the city's Metropolitan Redevelopment Agency are hosting a competition to change Albuquerque’s skyline with the tallest building in New Mexico. The MRA is requesting redevelopment proposals to partner with one or more private developers to construct iconic buildings in the heart of Downtown.

There are two plots of property in Downtown Albuquerque up for sale or long-term leasing— two acres at 400 4th St. NW and one acre at 101 Silver St. SW. The buildings could be used for a variety of purposes ranging from retail to housing, city officials said.

Both spaces also have surface-level parking. Hopefuls can apply for one or both plots, or propose the redevelopment of an existing property they own Downtown.

[mgs11]

City of Albuquerque
Skyline Competition for the
Tallest Building in New Mexico

[southtucsonboy77]

I love the Duke City's ambition!

[mgs11]

Originally Posted by southtucsonboy77

I love the Duke City's ambition!

[mgs11]

The Carlisle condo reconstruction to begin in April

Eddie Garcia
KOB 4

The day before Thanksgiving in 2016, all seemed lost as an arson fire ripped through The Carlisle, a nearly completed 34 unit luxury condominium complex.

It was devastating for developer Kenny Hinkes , who had a vision for his newest project and the Nob Hill neighborhood.

"We are providing a need for high quality small spaces in a community that has a deficit of that kind of product," said Hinkes.

[mgs11]

Innovate ABQ Construction
[IMG]Innovate ABQ construction by sandovalmgs11, on Flickr[/IMG]

[mgs11]

Civic plaza to receive makeover

[mgs11]

City Council OKs new comprehensive plan for Duke City

By Martin Salazar
Albuquerque Journal staff writer

Albuquerque city councilors voted late Monday to approve a rewrite of the city’s comprehensive plan, rejecting requests to delay approval for 14 to 16 months to allow for more public input into the process.
The comprehensive plan and two associated measures were adopted by 6-2 votes, following an exhaustive discussion. Councilor Brad Winter was absent.

Voting against the comprehensive plan were Councilors Ken Sanchez and Klarissa Peña. Both had asked for the comprehensive plan to be deferred for 90 days.

“I believe this is a major change to the Albuquerque/Bernalillo County Comprehensive Plan,” Sanchez said. He made the motion for the deferral, saying he doesn’t think the community has had enough time to provide input.