Albuquerque Development Thread

[WestCoastSupertall]

I love the look of the look of that tower, I really hope it moves forward....AND condos at $450 / SF?! I'm moving in. I predicted back in '15 that the ABQ is going to be the next Denver

[mgs11]

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.

[mgs11]

One Central Construction
[IMG]SnapShot-20180105_103221 by mgs11, on Flickr[/IMG]

[mgs11]

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.

[mgs11]

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.
[IMG]DoLo@3 by mgs11, on Flickr[/IMG]
[IMG]DoLo@3-1 by mgs11, on Flickr[/IMG]
[IMG]DoLo@3-2 by mgs11, on Flickr[/IMG]
[IMG]Dolo@3-3 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

[southtucsonboy77]

There's 2-3 proposed projects in the Tucson downtown area similar to this project...these long, horizontal buildings are eye sores in my opinion and take up a lot of square footage in downtowns. The edges of downtown may be acceptable, I've seen some good ones. But in the core of a downtown, it just looks wrong.

[mgs11]

I agree. But for now it's better than a parking lot.

[mgs11]

Very disappointing news

Plans for new tallest building scrapped, Mayor Keller has different vision

[Obadno]

Originally Posted by mgs11

Very disappointing news

Plans for new tallest building scrapped, Mayor Keller has different vision

I agree that height is actually not important, but parking concerns are nonsense

[southtucsonboy77]

Originally Posted by mgs11

Very disappointing news

Plans for new tallest building scrapped, Mayor Keller has different vision

Its a sensible explanation. The new mayor seems open to a new development that can change the skyline...but it doesn't necessarily need to be the TALLEST building...it can be a tall building with more practical height, size, use, and functionality. When its a private/public partnership...the "public" side has to be very cautious.

[mgs11]

Originally Posted by Obadno

I agree that height is actually not important, but parking concerns are nonsense

I've never had a problem finding parking in downtown ABQ.

[mgs11]

The Highlands to break ground in August

By Steve Sinovic
Albuquerque Journal
Staff Writer

ALBUQUERQUE, N.M. — The long-awaited transformation of 12 blighted acres north of Central Avenue near Presbyterian Hospital will begin this summer.
Ground-breaking on two of a half dozen proposed phases of The Highlands development — a highly amenitized 92-unit apartment building and a hotel — is slated for August.

After a challenging year of sorting out grading and utility issues, tearing down derelict housing and coordinating with the ART project, construction crews are ready to roll on the $95 million mixed-used community.

[mgs11]

The Crucible @ Innovate ABQ

[IMG]Crucible by mgs11, on Flickr[/IMG]

Adjacent to the Sanctuary is the old Educational Wing which is being reimagined as The Crucible, a multi-use complex of offices and wet and dry lab space that will act as a makerspace for researchers, innovators and entrepreneurs in the biotech, materials sciences, and optics and photonics industries.

The Crucible is intentionally designed to support the innovation, skills and capital needs of existing and emerging industries and emphasizes creating value and income in the economy through increased productivity and trade within our materials science industries.

[southtucsonboy77]

Alright...I like the look of the building. I love it when developers put some effort in their renderings, goes a long ways in first impressions for folks not familiar with the project.

[mgs11]

Albuquerque tech firm Lavu planning for new jobs, office move

By: Chris McKee
KRQE 13

An Albuquerque tech success story, Lavu is once again getting ready to grow and move, and the firm is getting new cash from the state to do it.

A point-of-sale software company, Lavu is expected to get $270,000 in grant funds from the state's Local Economic Development Act, or LEDA program, with the promise that the company will add new jobs over the next few years.

The investment was revealed Tuesday in a meeting of the Bernalillo County Board of Commissioners. The county voted to act as the "fiscal agent" for Lavu's LEDA grant, meaning it will oversee the grant's distribution and use.

Lavu's had high visibility on the corner of First Street and Central Avenue for more than three years, but the company says they've outgrown the space and need a bigger location.
• Video Link

[mgs11]

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.

[mgs11]

What’s next for Innovate ABQ

By Kevin Robinson-Avila
Albuquerque Journal Staff Writer
[IMG]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.

[DesertRay]

Glad to see them working on this corner of downtown. The work that ASU has done to reinvigorate downtown Phoenix has been a key part of the revival.

[mgs11]

California company plans 700 jobs for Downtown ABQ

By Ron Davis
Reporter, Albuquerque Business First

Nearly 700 jobs are headed to Downtown Albuquerque.

At a news conference Wednesday morning, Gov. Susana Martinez, Mayor Tim Keller and Albuquerque Economic Development announced TaskUs, a California-headquartered provider of outsourced customer service, will expand to Albuquerque. TaskUs plans to bring 695 new jobs over the next five years to First Plaza at 200 Third St. NW. The new operation is slated to be a "technical operations and customer experience center." It expects to be in operation by the first quarter of 2019.

The company is expected to invest $9 million in its new 50,500-square-foot space. TaskUs also considered Utah, Nevada and Texas for its expansion, according to a release. The state will provide up to $2 million in Local Economic Development Act funding while Albuquerque is committed to up to $1 million in LEDA funding, the release said.

[Obadno]

Originally Posted by mgs11

California company plans 700 jobs for Downtown ABQ

By Ron Davis
Reporter, Albuquerque Business First

Nearly 700 jobs are headed to Downtown Albuquerque.

At a news conference Wednesday morning, Gov. Susana Martinez, Mayor Tim Keller and Albuquerque Economic Development announced TaskUs, a California-headquartered provider of outsourced customer service, will expand to Albuquerque. TaskUs plans to bring 695 new jobs over the next five years to First Plaza at 200 Third St. NW. The new operation is slated to be a "technical operations and customer experience center." It expects to be in operation by the first quarter of 2019.

The company is expected to invest $9 million in its new 50,500-square-foot space. TaskUs also considered Utah, Nevada and Texas for its expansion, according to a release. The state will provide up to $2 million in Local Economic Development Act funding while Albuquerque is committed to up to $1 million in LEDA funding, the release said.

Good for ABQ!