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  1. Consultant offers 3 Rail Yards redevelopment scenarios BY JESSICA DYER ALBUQUERQUE JOURNAL STAFF WRITER Leland Consulting Group’s most recent draft report to the city of Albuquerque says the ideal Rail Yards redevelopment strategy will include a mix of uses. It provides three different development scenarios of varying levels of density, but notes that redevelopment will occur over many years, making it impossible to predict the exact mix that would work. All scenarios call for “adaptive reuse” of buildings on the property’s north side, which the report calls the Rail Yards’ “front door.” Proposed uses include Central New Mexico Community College’s film center, the existing Rail Yards Market, and new retail, restaurant and commercial tenants. Chicago artist Theaster Gates recently kickstarted an effort to redevelop one of those northern buildings – the fire station – by pledging $11,000 of his own money and helping raise another $14,000. “It could be a calling card to the rest of the complex,” he said during a late-June presentation in Albuquerque.
  2. Six-story hotel planned for East Downtown By Ron Davis Reporter Albuquerque Business First sundowner-full-corner-rendering by mgs11, on Flickr[/IMG] East Downtown Albuquerque is set to get new hotel. Albuquerque-based Legacy Development and Management LLC plans to build a six-story, 130,000-square-foot, dual-branded hotel at Central Avenue and Broadway Boulevard. Todd Walters, vice president of operations, confirmed in a phone call to Business First on Thursday. The hotel will feature a two-story, above ground, parking structure. The dual-branded hotel will be inhabited by a Hilton Garden Inn and a Homewood Suites with 90 rooms designated for Hilton and 80 for Homewood Suites. The Hilton Garden Inn rooms are designed for business and leisure travelers while the Homewood Suites rooms will be catered to extended stay guests with fully equipped kitchens. Walters said he expects to break ground in March with a timeline of around 14 months. In total, the price tag for the hotel will be around a $25 million investment, Walters said. The property is owned by Sundowner Hospitality LLC, an affiliate of Legacy.
  3. New, massive project could turn the metro into transportation hub By: Brittany Bade KRQE 13 A new project could set Albuquerque apart from other growing cities and make the metro a hub for distributing products. "It's good for Albuquerque. It's good for Bernalillo County," said Bill Robertson, the VP of Colliers International and one of the developers for 'Sunport South.' The project plans to transform 350 acres of dirt along University south of Rio Bravo into an ideal location for e-commerce and logistic companies and warehouses. "Really a high-tech, first-class business center," said Robertson. They're hoping to bring in big businesses by highlighting the site's proximity to the Sunport, railroad, and Big-I. "We have all the major logistics, road, rail, and land," said Robertson. The future hub borders the Mesa Del Sol housing development. At full capacity, Sunport South would employee 15,000 people. When you combine that with the growing Mesa Del Sol community and new Netflix headquarters, there could be around 100,000 more people in this area.
  4. City again seeks ideas to develop Downtown site By ABQJournal News Staff ALBUQUERQUE, N.M. — The City of Albuquerque’s Metropolitan Redevelopment Agency has issued a request for proposals for development of a mixed-use project Downtown. The site being offered in the RFP by Mayor Tim Keller’s administration is a 2-acre parking lot at 400 Fourth St. NW near Civic Plaza. Former Mayor Richard J. Berry had offered the same site as part of a competition to transform the city’s skyline with the tallest building in the state. But the Albuquerque Development Commission rejected the two proposals submitted under that effort. The new effort calls for a project that will be “a point of place-making, bringing together residents and tourists to add to the current excitement and energy in Downtown Albuquerque.” According to the RFP, it must offer some kind of public amenity such as a park or gathering space, recreational facility, performance space or museum. City of Albuquerque Civic North Project Request for Proposals
  5. What’s next for Innovate ABQ By Kevin Robinson-Avila Albuquerque Journal Staff Writer Innovate 5 by mgs11, on Flickr[/IMG] ALBUQUERQUE, N.M. — The clanking of hammers and buzz of drills will soon fill the old First Baptist Church building at Broadway and Central Downtown as remediation and remodeling work begins on the second phase of the Innovate ABQ research and development site. Design work is now underway at the two-story sanctuary and five-story office tower behind it, both of which sit on the southeast corner of the old church site, Innovate ABQ Executive Director John Freisinger told the Albuquerque Economic Forum Wednesday morning. Remediation efforts will likely begin on those two structures before the end of this year, followed by interior remodeling. As for the church building’s two-story west wing, which previously housed a parochial school, developers plan to tear it down and build an entirely new, five-story office tower in its place, Freisinger told Forum participants.
  6. Mixed-use boom in Albuquerque By Steve Sinovic Albuquerque Journal Staff Writer ALBUQUERQUE, N.M. — Mixed-use properties are becoming the go-to opportunity for many developers and investors in and around Downtown Albuquerque. Many Albuquerque developers either have mixed-use projects that are opening soon, rising on construction sites or teeing up. They are so prevalent these days that NAIOP New Mexico, the commercial real estate development association, recently hosted a panel discussion featuring some of the more active players. Several of the NAIOP speakers laid out a rosy vision of building mixed-use properties with hundreds of new rental apartments Downtown – living spaces offering vibrant designs and unique amenities, and primarily tailored to millennials and baby boomers. These future renters, they asserted with the highest of hopes, are eager to ditch their cars to “live, work and play” in walkable, transit-accessible neighborhoods, with merchants on the ground floor eager to sell them coffee, food and entertainment.
  7. Bank of the West Center project looking to revamp part of Downtown By Shelby Perea Real Estate Reporter Albuquerque Business First Development team Roma Fourth Capital LLC has big plans to alter the Bank of the West Center in Downtown Albuquerque. On Thursday, the team presented those plans to the Albuquerque Development Commission, which recommended approval from Albuquerque City Council for a $30 million Metropolitan Redevelopment Bond. "The Applicant is requesting a $30 million Metropolitan Redevelopment Bond for the sole purpose of the tax abatement mechanism that the MRB provides the property owner. The abated taxes will be reinvested into the project, in addition to other financing tools including personal equity and conventional loans, to improve the site’s existing structures, develop the new infill mixed-use project, and improve the site’s overall layout and circulation to better provide connections and complementary uses to the rest of Downtown," the development team wrote in its plans. [email protected] by mgs11, on Flickr[/IMG] [email protected] by mgs11, on Flickr[/IMG] [email protected] by mgs11, on Flickr[/IMG] [email protected] by mgs11, on Flickr[/IMG] http://documents.cabq.gov/planning/a...rt-1-18-18.pdf http://documents.cabq.gov/planning/a...nt-1-18-18.pdf
  8. Topgolf wants to tee off in Albuquerque By Shelby Perea Real Estate Reporter Albuquerque Business First Topgolf announced Wednesday it is "actively pursuing" Albuquerque for a new location. The popular Texas-based sports entertainment company wants to open at the southwest corner of Montano Road and Interstate 25, with the intention to lease the land from Albuquerque Investors LLC, the company said in a news release. The facility would sit on 14.4 acres. It is aiming for a spring 2019 opening, pending city approval. Business First reported in 2016 that Albuquerque had made Topgolf's short list. Topgolf projects creating 325 full- and part-time jobs at the Albuquerque location. The company is planning for a three-level space with 1,500 square feet of private event space and 72 climate-controlled hitting bays. The global company, known for combining technology and entertainment, generates $300 million in revenue from 8 million customers, Financial Times reported in 2016.
  9. Carlisle condominiums have risen from the ashes By Steve Sinovic Albuquerque Journal Staff Writer Interest is quickly building for The Carlisle, a 34-unit condominium complex at 3600 Central SE that’s emblematic of second chances. Nineteen of the units in the east Nob Hill project have sold, and the rest are going under contract at the rate of one or two a day, developer Kenny Hinkes said during a recent tour of the completed models, where several finish options were available. He also led a hard-hat tour of the rooftop area and the 50-space parking garage of the $10 million three-story residential condo project. The Carlisle has risen from the ashes in the past year. The project burned to the ground after an arsonist torched the nearly complete building just before Thanksgiving of 2016. After the site was cleared of debris and the insurance claim was settled, Hinkes and his partners, Adam and Jason Harrington, said they were too heavily invested to walk away. The Harringtons’ company, HB Construction, is the general contractor on The Carlisle.
  10. City approval on ‘Symphony Tower’ delayed until January By KRQE News 13 Madeline Schmitt -1)) { fetch_object('currentPost').scrollIntoView(true); }"> One of Mayor Berry’s pet projects won’t get his final approval. After months of talks, the possibility of downtown Albuquerque’s new tallest building is inching closer, but it will be the next mayor, Tim Keller, who ultimately signs off on it. The Albuquerque Development Commission has to approve the proposal for the “Symphony Tower” first, then the city and the developers can start negotiating a deal. Thursday afternoon, the ADC postponed approval, saying it wanted to wait until incoming mayor Tim Keller is in office.
  11. City rolls out plans for high rises and urban look to Central corridor By Rebecca Atkins KRQE 13 ALBUQUERQUE, N.M. – The City of Albuquerque has big plans for the Central Avenue corridor. From high rise buildings to a booming economy, a new website with renderings for each district shows what the city hopes for the area. “We project over time there will be a significant increase in commercial development, high rise,” said Gilbert Montano, the Mayor’s Chief of Staff. Montano said the city’s plans for a much more urban feel to Albuquerque’s signature street is all tied into the Albuquerque Rapid Transit project. The new plans are referred to as Central: Good to Great. He said the idea came from, “Other research through other cities, market-driven analysis that has spurred some of the development both now, and we hope in the future.”
  12. See the project moving forward in skyline competition By Shelby Perea Real Estate Reporter Albuquerque Business First The city's plan to make Albuquerque taller is inching forward. In February, Albuquerque Business First reported on the mayor's call to investors and developers to heighten up Albuquerque's skyline and in August KRQE reported the proposals were in and the competition was closed. Little was known about the project's plans as the mayor's office said the proposals were kept a secret from them in the name of confidentiality, even declining to disclose the number received. Now details on the proposal moving on have been released but ground is far from broken. Symphony Tower LLC's proposal for "Symphony Tower" has been pushed forward but there's still tweaking to be done. The developer for Symphony Tower – which includes lead developer Geltmore LLC and SC3 Development LLC – has to go back to the drawing board and revise the plan with the Metropolitan Redevelopment Agency team. Symphony Tower beat a different proposal by Albuquerque Skyline Partners LLC that was being considered. The Albuquerque Development Commission said Symphony Tower was "more grand in scope" than the other but felt it needed refining and more detail for full consideration, according to Planning Department Public Information Officer Melissa Perez.
  13. The last story that I posted was very poorly reported. This one is much better reporting. City gets closer to choosing building for Albuquerque skyline challenge By Rebecca Atkins KRQE 13 ALBUQUERQUE, N.M. (KRQE) – The renderings are in, and the city is one step closer to adding the new tallest building to the Albuquerque skyline. From high-end apartments and a hotel, to shopping and more, it’s all in the plans for the city’s top choice in their skyline contest. “People are wanting to invest in Albuquerque. My understanding is the proposals that came in, a lot of them were from locals, people who have built their businesses here,” said Mayor Berry. The mayor said he’s excited to see these grand renderings for the proposed “Symphony Tower” — unanimous top choice of the city’s Development Commission. The city’s Planning Department said there were two options for the site at Third Street and Marquette, right across the street from Civic Plaza. The Symphony Tower would be 386 feet tall, nearly 35 feet taller than the U.S. Eagle building. There would be shops and offices, a pool with a sprawling outdoor deck on the tenth floor, and a hotel above that. Apartments would occupy the higher floors. Some of those apartments could have up to 6,000 square feet.
  14. Ideas for new downtown skyscraper revealed Skyline Idea by mgs11, on Flickr[/IMG] Brittany Costello September 25, 2017 06:29 PM ALBUQUERQUE, N.M. – Beyond the historic Rail Yards, a new grocery store and condominiums, there seems to be no shortage of homeless campus, vacant buildings or open space in downtown Albuquerque. For city officials, there is something missing, and it could change the downtown Albuquerque skyline as the city knows it. Mayor Richard Berry earlier this summer announced a skyscraper competition, calling on drafts of ideas and sketches for a new, eye-opening addition to downtown. It took some time, but those proposals – three in all – were presented Monday to the Albuquerque Development Commission. One of the proposals would create a building called the Symphony Tower, which would come with rental space, residential space, a hotel and more. It stands 34 stories tall in its current design. If selected, it would be the tallest building in the state.
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