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  1. Albuquerque Development

    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]
  2. Albuquerque Development

    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.
  3. Albuquerque Development

    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.
  4. Albuquerque Development

    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.
  5. Albuquerque Development

    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.”
  6. Albuquerque Development

    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.
  7. Albuquerque Development

    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.
  8. Albuquerque Development

    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.
  9. Albuquerque Development

    -1)) { fetch_object('currentPost').scrollIntoView(true); }"> Nob Hill to West Central corridor booming with apartments By Madeline Schmitt KRQE ALBUQUERQUE, N.M. (KRQE) – Take a drive down Central from the river to the east end of Nob Hill and it’s new building after new building, all apartments. The new spaces are going up left and right, allowing more people to call the heart of Albuquerque their home – so long as they renew their lease. “With this new Generation Z that’s coming along, we’re finding that they’re well educated, they want to get really good jobs,” John Lopez, VP of the Greater Albuquerque Association of Realtors said. “They’ve kind of lived through this recession period, but I think there’s going to be a challenge of commitment.” Lopez gave KRQE News 13 some insight into the seemingly endless rental construction along Route 66.
  10. Albuquerque Development

    Albuquerque skyline may get new ‘tallest skyscraper By Jeannie Nguyen KRQE 13 -1)) { fetch_object('currentPost').scrollIntoView(true); }"> ALBUQUERQUE, N.M. (KRQE) – Albuquerque could be a little closer to adding a new tallest building to its skyline. The proposals are in as the mayor’s office wraps up its skyline competition. “Over the last 20 years we haven’t had a skyscraper really reach the height we were hoping for,” said Gilbert Montano, the Mayor’s Chief of Staff. Project proposals were accepted up until a month ago, but the submissions have remained a secret even from the mayor and his staff. For confidentiality reasons, the mayor’s office won’t say how many entries they’ve gotten, except to say several. “We don’t want to taint or bias any kind of the scores or opinions of it,” said Montano. Right now, downtown’s tallest building is the newly named U.S. Eagle building and it stands at 351 feet and built in 1990.
  11. Albuquerque Development

    The Highlands EASTBLOCK 170203
  12. Albuquerque Development

    Study pinpoints possible locations, price tag on soccer stadium for Albuquerque Sol FC By Madeline Schmitt KRQE 13 The city of Albuquerque’s study on building a professional soccer stadium is back. This time, it shows where the possible 10,000 seat stadium would be built at a price tag much higher than originally anticipated. Born four years ago, the Albuquerque Sol FC is ready for bigger things. “It’s a complicated process. It’s an exciting process,” Sol President Ron Patel said. A recently completed feasibility study by the City of Albuquerque at a cost of $15,000 suggests, “if you build it, they will come” — except, a soccer stadium. The potential locations: Lomas and Broadway, 12th and I-40, and the Rail Yards. “Every week I have a new favorite,” Patel said. One thing is clear, the city and the Sol want the stadium to be close to downtown. The study looks at how an the Albuquerque Sol FC stadium would fare among United Soccer League teams, which is the second tier of pro soccer in the United States.
  13. Albuquerque Development

    One Central Downtown Albuquerque 7/17/2017 One Central 1. 7-17-2017 by mgs11, on Flickr[/IMG] ART Canopy at Coors & Central ART Canopy.jpg-large by mgs11, on Flickr
  14. Albuquerque Development

    New businesses open along Central despite ART construction Kasia Gregorczyk KOB 4 ALBUQUERQUE, N.M. – While some businesses along Central Avenue are struggling to stay open amid continuing construction of the new Albuquerque Rapid Transit line, two business owners are choosing now as an appropriate time to open their doors. “To grow a city, you have to have growing pains,” said Kearstin Nuckles of GEAR Fitness. “So it didn’t faze us at all to come in during ART. We just figured we’d work around it and every day we tell our clients which way to go; which streets are backed up, which aren’t. It hasn’t been a problem yet.” It’s been about a month since two businesses were forced to close after being unable to deal with the shortage in customer flow due to ART. Nuckles didn’t waste any time taking over the space where the old Draft Station used to be, turning it into a premiere cycling and group fitness studio. She hasn’t begun the remodeling process, but clients are already filling the indoor exercise bikes each week.