BigTymeABQ

Albuquerque Development

392 posts in this topic

It looks like the ABQ portion of this forum has been dead for a long time so I thought that I might as well get something started. Does anyone have any news on developments going on in ABQ?

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Tax credit funding for Downtown grocery store moves forward


Dan MayfieldReporter-
Albuquerque Business First

The developers of the Downtown grocery store have received preliminary approval for $2.5 million in New Markets Tax Credits from the New Mexico Finance Authority.
“All the parts and pieces are coming together,” Albuquerque Mayor Richard J. Berry told Albuquerque Business First on Tuesday. “This is really a catalyst for Downtown.”
Project developer Paul Silverman and Gabriel Rivera of the city’s Metropolitan Redevelopment Agency presented their case to the NMFA on Friday, and have received preliminary approval for the tax credits, which work like a bond and will help with the construction of the new store.

 

http://www.bizjournals.com/albuquerque/news/2013/03/26/tax-credit-approval-downtown-grocery.html?ana=e_du_pub&s=article_du&ed=2013-03-26&u=QWbVgCvipWuhWtd1eDprQQ08961b90

 

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Forest City continues to try to sell Mesa del Sol stake

Damon Scott

Reporter-
Albuquerque Business First

Mesa del Sol's co-developer remains committed to selling its interest in the master planned community in south Albuquerque.
Forest City Enterprises Inc. of Cleveland said in its March 27 FY 2012 filing with the U.S. Securities and Exchange Commission that Mesa del Sol was one of several properties it is holding for divestiture. The other properties are in Ohio and North Carolina. The firm also listed 562 acres of “other” properties that it plans to sell.

http://www.bizjournals.com/albuquerque/news/2013/03/28/forest-city-trying-sell-mesa-del-sol.html?ana=e_du_pub&s=article_du&ed=2013-03-28&u=QWbVgCvipWuhWtd1eDprQQ08961b90&page=all

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DAT searching for ‘retail pop-up’ candidates

 

Damon ScottReporter-

Albuquerque Business First

The Downtown Action Team is looking for businesses to join its “retail pop-up” initiative. Organizers are seeking established businesses that are interested in testing their product or service at a downtown Albuquerque location.

The program is aimed at turning vacant Downtown storefronts into temporary retail sites. The sites are created to generate buzz for the property and the retailers that participate. No long term leases are required, the commitment ranges from one week to six months, usually in relation to a season or holiday.

http://www.bizjournals.com/albuquerque/blog/morning-edition/2013/04/dat-searching-for-retail-pop-up.html?ana=e_abq_rdup&s=newsletter&ed=2013-04-01&u=QWbVgCvipWuhWtd1eDprQQ08961b90

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DAT searching for ‘retail pop-up’ candidates

 

Damon ScottReporter-

Albuquerque Business First

The Downtown Action Team is looking for businesses to join its “retail pop-up” initiative. Organizers are seeking established businesses that are interested in testing their product or service at a downtown Albuquerque location.

The program is aimed at turning vacant Downtown storefronts into temporary retail sites. The sites are created to generate buzz for the property and the retailers that participate. No long term leases are required, the commitment ranges from one week to six months, usually in relation to a season or holiday.

http://www.bizjournals.com/albuquerque/blog/morning-edition/2013/04/dat-searching-for-retail-pop-up.html?ana=e_abq_rdup&s=newsletter&ed=2013-04-01&u=QWbVgCvipWuhWtd1eDprQQ08961b90

More info on this at KOB 4

http://www.kob.com/article/11687/?vid=4001707&v=1

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A photo I took of downtown Albuquerque.

8549995904_dc3610f0d0_z.jpg

Edited by BigTymeABQ

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$20M makeover under way

By Jessica Dyer / Journal Staff Writer on Wed Apr 3, 2013

The fancy new glass facade, light tower and balcony – aka “party deck” – are coming.
But, for now, the Albuquerque Convention Center’s $20 million makeover is concentrated mostly on the inside.
The property’s first major renovation in 21 years began in late January, and much of the first phase is devoted to overhauls of the kitchen and ballroom.
The $8 million phase – which also includes the removal of a loading dock ramp and exterior storage unit and some new stucco – has gone smoothly so far.
“We’re on schedule and on budget,” Keith Reed, manager of the city’s Construction Services Division, said during a recent site tour.
The first phase – handled by contractor Gerald Martin – is on a tight time frame due to the center’s future commitments, Reed said. The kitchen and ballroom should be finished by early July.

» $20M makeover under way {sodEmoji.|} ABQ Journal

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Al’s Big Dipper opens Downtown satellite location

Damon Scott
Reporter-
Albuquerque Business First

The owners of Downtown Albuquerque sandwich shop Al's Big Dipper have opened a satellite location. Al’s Other Half opened April 3 in a 1,500-square-foot space adjacent to the city’s main library at 501 Copper Ave. NW.
Co-owner Cassidy Chen said she wanted to expand her food offerings, including a breakfast menu and the operation of a full coffee bar, which Al’s Big Dipper doesn’t offer.
 

http://www.bizjournals.com/albuquerque/blog/2013/04/als-big-dipper-opens-downtown.html?ana=e_abq_rdup&s=newsletter&ed=2013-04-10&u=QWbVgCvipWuhWtd1eDprQQ08961b90
 

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Opposition to state’s plan to buy Plaza Maya surfaces

Damon Scott
Reporter-
Albuquerque Business First

Opposition has surfaced to the state’s plan to purchase Plaza Maya for a relocation of its Albuquerque probation and parole division.
Last month, a purchasing agreement was signed for the Corrections Department to buy Plaza Maya, a 62,287-square-foot structure at 615 First St. NW in Downtown Albuquerque.
From a commercial real estate perspective, some observers have seen the move as a potential boost for a Downtown office market that has experienced a high vacancy rate in recent years.

http://www.bizjournals.com/albuquerque/news/2013/04/10/opposition-to-plaza-maya-buy-surfaces.html?ana=e_du_pub&s=article_du&ed=2013-04-10&u=QWbVgCvipWuhWtd1eDprQQ08961b90&page=all

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Trying To Solve Albuquerque’s Sprawl By Building A Development The Size Of Manhattan

Stan Alcorn
Stan Alcorn is a staff writer at Co. Exist and a multimedia journalist based in New York City.

Mesa Del Sol’s is the New Mexico city’s attempt to keep its residents from spilling out into the surrounding desert. Instead, it’s sprawling, by building a massive urban development to take the place of suburbs.
When the housing crisis hit, it stopped sprawl in its tracks. In 2006, in Albuquerque, New Mexico, new permits for single-family homes began what would become an 80% slide. But at the same time, at the edge of the city, construction workers were breaking ground on a very different approach to stopping sprawl: a vast development called Mesa del Sol.
The plan had evolved since its genesis in the early 1980s, but it boiled down to a simple premise: Instead of stopping home builders from transforming distant desert into residential exurbs, the government would give them competition. They would build the largest and most ambitious New Urbanist development in the Southwest.

 

http://www.fastcoexist.com/1681723/trying-to-solve-albuquerques-sprawl-by-building-a-development-the-size-of-manhattan#2

 

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Keep up the good work BigTymeABQ! :thumbsup:  I can really appreciate you posting all of this for your city....nice pics too! Really like the Albuquerque skyline shot! The city has never been easy for me to spell...lol

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Keep up the good work BigTymeABQ! :thumbsup:  I can really appreciate you posting all of this for your city....nice pics too! Really like the Albuquerque skyline shot! The city has never been easy for me to spell...lol

Hey Thanks! I thought I was the only one here. Don't wory about the spelling. I can't even spell it...lol

County may buy Alvarado Square site

Gary Gerew

Assistant Editor-

Albuquerque Business First

Bernalillo County executives are considering buying PNM’s old Alvarado Square building so it can consolidate many of the county offices now housed in various Downtown offices.

“We’re a long way from making a final decision,” County Commission Chairwoman Maggie Hart Stebbins told the Albuquerque Journal. “I‘m going to ask for a clear explanation of the cost and how we will recover those costs before we make a decision.”

Bernalillo County may buy Alvarado Square site - Albuquerque Business First

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Looks like they're setting up scafolding and barricades around the Anasazi downtown. It's good to see work finally starting.

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City struck out on chance to revitalize Downtown

By Joel Roffers
Albuquerque resident on Thu, Apr 18, 2013

I read with interest and bittersweet memories the Journal’s three-part story on Isotopes Park and its 10-year anniversary. Sitting at a Lobos game in Isotopes Park sipping on a beer — proving the world won’t come to an end with alcohol sales at Lobos games just like it hasn’t in the Isotopes 10 years, but that’s another story — made me think if only wiser heads had prevailed.

First and foremost, thankfully the city built this gem of a ballpark that’s had 10 years of solid success. But, I also thought how nice it would have been if this was the Lobos ballpark and if Albuquerque had done the sensible thing building Isotopes Park Downtown with its many benefits including revitalizing a stale and decrepit Downtown in desperate need of revitalization, renewal, and a vibrancy that would have brought scores of people to Downtown not only for baseball games but to the old and new shops, restaurants, sports bars, hotels or any of the other city development that did not occur.

http://www.abqjournal.com/main/2013/...-downtown.html

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Looks like they're setting up scafolding and barricades around the Anasazi downtown. It's good to see work finally starting.

Photo Update

 

8661497254_0eb19a4ffe_b.jpg

8661495544_d1e77ded2f_b.jpg

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Contractor chosen for Anasazi rebuild work

Damon Scott
Reporter-
Albuquerque Business First

A general contractor has been chosen to begin work on the rehabilitation of the nine-story Anasazi high-rise development in Downtown Albuquerque.
Albuquerque-based AIC General Contractor started work this week on phase one of the three-phase project, officials said.
According to project manager David Shaffer, phase one will entail exterior work, including painting, stucco, the installation of balcony rails, sheeting and repair of some of the sidewalk around the building

http://www.bizjournals.com/albuquerq...eDprQQ08961b90

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Four new projects underway at Mesa del Sol

Damon Scott
Reporter-
Albuquerque Business First

While Mesa del Sol’s co-developer, Forest City Enterprises, may be looking to sell its interests in the master planned development, projects are still moving forward.
Three projects are in the works as the residential piece moves into its second phase, according to Mesa del Sol Residential Development Director David Newell.
The Portrait Park Pool, a 7,700 square-foot outdoor pool that is large enough for 76 people, is under construction. It was designed by Albuquerque’s slagleHERR Architects and should be completed by July 4.

 

http://www.bizjournals.com/albuquerque/blog/morning-edition/2013/04/four-projects-underway-at-mesa-del-sol.html?ana=e_abq_rdup&s=newsletter&ed=2013-04-22&u=QWbVgCvipWuhWtd1eDprQQ08961b90

 

 

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Vincent Garcia sentenced to prison in fraud case

Dennis Domrzalski

Reporter-

Albuquerque Business First

Albuquerque real estate developer Vincent J. Garcia was sentenced to 27 months in prison Friday for defrauding a Topeka, Kansas, bank and an Albuquerque credit union out of $842,000 in 2007 in connection with his nine-story Anasazi high-rise project in Downtown Albuquerque.

Garcia was also ordered to pay $722,000 in restitution to the Federal Deposit Insurance Corp., which took a loss when it seized and sold the Oklahoma bank, and to First Financial Credit Union in Albuquerque, which lost millions of dollars in loans it made to Garcia and his companies.

http://www.bizjournals.com/albuquerque/news/2013/04/26/vincent-garcia-sentenced-to-prison-in.html?ana=e_abq_rdup&s=newsletter&ed=2013-04-29&u=QWbVgCvipWuhWtd1eDprQQ08961b90&page=all

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Meetings will address bus services in city

By D'Val Westphal / Of the Journal on Mon, Apr 29, 2013

GET/GIVE THE SCOOP ON UNM/CNM/SUNPORT BUS SERVICE: Three meetings this week will give Metro-area residents that chance.

Hosted by the Mid-Region Council of Governments, the meetings Tuesday, Wednesday and Thursday are seeking feedback on a list of potential bus routes. It’s all part of the ongoing UNM/CNM/Sunport Transit Study, which started in June and is expected to wrap up this fall.

A news release from MRCOG says “the UNM/CNM/Sunport area is the region’s largest activity center, serving more than 90,000 residents, students, and employees. It also houses UNM Hospital and several key stadiums and special events venues. While the area has excellent east/west transit service, a 2011 study found that there are key opportunities to improve transit access to businesses, jobs, classes, and other destinations along the north/south corridor.”

http://www.abqjournal.com/main/2013/...s-in-city.html

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Sunport aims to add business park, retail development along Gibson

Dan Mayfield

Reporter-

Albuquerque Business First

Within two years, Albuquerque International Sunport officials hope to add retail development, and an 80-acre business park, to the north side of the airport along Gibson Boulevard.

The north side of the Sunport, by Puerto del Sol Golf Course, has been unused for several years. Commercial planes stopped using the north-south runway more than a decade ago, and last year the runway was officially decommissioned. That left the Sunport with 80 acres, on a busy street, that’s ripe for development, said the city’s director of aviation, Jim Hinde.

“We did what we called a strategic plan ... and what they came up with was a dual-pronged development there. The vast majority of it is research and development,” Hinde said. “But the property that fronts Gibson is ideal for retail and a possible convenience store.”

Traffic studies, said Jack Scherer, director of business development for the Sunport, show about 40,000 cars pass by the area daily, making it as busy as San Mateo Boulevard.

Though a retail site on the area would be a good first step, Hinde said, the airport is also looking to develop the rest of the property into an aviation-related business park, and possibly an aviation company incubator.

http://www.bizjournals.com/albuquerque/news/2013/05/01/sunport-aims-to-add-business-park.html

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