Albuquerque Development Thread

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City to negotiate with developer for Downtown parcel

By Jessica Dyer
Journal Staff Writer

Bowling Downtown?

It could happen.

The city’s Development Commission on Thursday voted to pursue negotiations with developer One Central Operating Associates, LLC for a project on city-owned land at 1st and Central, a space the city wants to turn into an entertainment hub.

One Central’s proposal calls for a $38.5 million mixed-use project on the 1.75-acre site that would include 39,000 square feet of commercial space, an additional four stories of apartments totaling 76 units and a four-level parking garage with more than 400 spaces.

Jerry Mosher, one of the partners in One Central, said the commercial space could accommodate up to 10 businesses and that his team already has begun discussions with several potential tenants, including a bowling alley operator, multiple restaurants, a brewery and a juice bar.

Many details must still be ironed out, since the proposed financing for the project includes the city’s purchase of the project’s parking garage for $17 million and possible incentives such as a gross-receipts tax abatement for construction costs.

While some commissioners raised questions about the many moving parts associated with the project, they voted that the city’s metropolitan redevelopment agency begin negotiations with One Central for development of the parcel in the hopes that process would yield more clarity.

One Central’s project was the only proposal the commission heard for the land. Only two groups submitted projects in response to the city’s 2014 request for proposals for the land, and city staff said an ad hoc committee determined only One Central’s met the standards.

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Unique 'condotel' development opens near Downtown, but without Pony Jo concept

Stephanie Guzman
Reporter
Albuquerque Business First

The city's first "condotel" concept celebrated a ribbon cutting Monday just north of Downtown Albuquerque with dignitaries on hand. The developers were already boasting that its first four rooms are already booked.
Anthea @ The Granite, located at 950 4th St. SW, debuted its three-story, 23-unit extended stay development that has been under construction for several months. What makes it different than most other extended stay concepts is its apartment-like amenities, which include a full kitchen, washer and dryer and retail offerings located on the bottom floor. And the hotel's chic decor with its mid-century modern theme sets it apart too.

Anna Smith of developer Construct Southwest, said the project's biggest challenge was getting the community to understand the concept, which isn't common to Albuquerque.

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Mayor picked bowling over casino for Albuquerque’s downtown
Rejected proposal called for tribal casino, 12,000 seat arena

By Alex Goldsmith
KRQE News 13

ALBUQUERQUE (KRQE) – The intersection of 1st Street and Central Avenue is prime real estate in Albuquerque, sitting at the gateway to downtown Albuquerque.

Although a transportation hub and movie theater occupy the south side of Central right now, the north side of Central is mostly parking lots. As part of efforts to revitalize the city’s downtown, city hall asked for ideas.

They got two very different proposals.

One submitted by One Central Operating Associates LLC, called for a development centered around an upscale bowling lounge. There would be office space and apartments along with a parking garage. Estimates in that proposal were it would create 200 construction jobs and 120 permanent jobs.

While the mayor’s office ultimately chose One Central’s idea, there was another proposal on the table that Mayor Richard J. Berry’s Chief of Staff Gilbert Montaño admits would’ve been a “game changer.”

That plan, submitted by Geltmore LLC and obtained by KRQE News 13, called for building a 12,000 seat multi-purpose arena and a tribal-owned casino hotel in the area of downtown between the railroad tracks, Central, 2nd Street and Tijeras Avenue.

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Rendering of One Central Downtown Entertainment District
[IMG]One Central pic by sandovalmgs11, on Flickr[/IMG]
https://www.youtube.com/watch?v=mDYnqABfxH8

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Big development plans advancing near Central Avenue's Presbyterian Hospital

Stephanie Guzman
Reporter
Albuquerque Business First

Titan Development is moving forward on the redevelopment of nearly 10-acres near Presbyterian Hospital, north of Central Avenue and east of I-25.
Titan officials said the project is in its early conceptual phases, but the company is proposing a mixed-use project with multifamily housing, retail and a hotel. Titan emphasized the proposed project and its uses are not yet set in stone.

The five city blocks, save for a couple of older buildings and some residences, have been vacant for many years.
Ben Spencer, CEO of Titan, said Presbyterian acquired the property about 20 years ago in anticipation of using the land for additional hospital uses. Presbyterian, with its growing hospital in Rio Rancho — the Presbyterian Rust Medical Center — later determined the land could be used differently.
"That's when they decided to find a development partner to create uses that are beneficial to their constituents, being their employees and patients' families," Spencer said.
Titan is also partnering with Steve Maestas' company Maestas Development Group, which will work on the retail portion of the project.

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Titan CEO answers the 'why now?' of new Central Avenue project near UNM

Stephanie Guzman
Reporter
Albuquerque Business First

When Dale Dekker of Dekker/Perich/Sabatini recently spoke about redevelopment already finding momentum along Central Avenue due to the forthcoming Innovate ABQ and Albuquerque Rapid Transit (ART) initiatives, he could've been talking about this one — a 10-acre project on five city blocks along Central across from Presbyterian Hospital.
Titan Development, along with partners Presbyterian and Maestas Development Group, are proposing a mixed-use development of multifamily residences, retail and a hotel.

It's a project that's been mulled over for years, so when asked 'why now?,' Titan CEO Ben Spencer said, "ART."

"We're very supportive of ART. This project is not contingent upon the opening of ART. But we think [ART will] be a tremendous benefit to this project and we think it will spur more development along the corridor," Spencer said.
Other supporters of Albuquerque Rapid Transit agree with Spencer. They say investment in a walkable, public transit-oriented street will spur more development and redevelopment along the corridor.

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Former Pulse site to become commercial development

By Richard Metcalf
Journal Staff Writer
Albuquerque Journal

Pioneering Nob Hill developer Rick Goldman is changing his playbook for redeveloping the half-acre lot at 4100 Central SE, once home to the Pulse Nightclub, for commercial uses rather than housing.

“We’ll bring something to market that has not been seen there before, something that compliments growth in that area of Nob Hill,” he told the Journal. “The area doesn’t need a strip center.”

Plans for the bulldozed site are still in the works with the Albuquerque architectural firm Environmental Dynamics Inc., Goldman said, and there’s no timeline for breaking ground.

“We wouldn’t have taken the building down if we weren’t going to move forward with the next phase of a commercial project,” he said.

Typical commercial uses are restaurants, retail shops and offices, although Goldman would not be specific. A mixed-use building in the classic new urbanist style of commercial space on the ground floor and apartments or condos on the upper floors is not being contemplated, he said.

Beginning in the mid 2000s with the Aliso Townhomes next to Morningside Park a couple blocks away, Chicago-based Goldman has built about 100 housing units in East Nob Hill, which is bisected by Central Avenue and extends from Carlisle east to Washington.

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Only One Submission To Buy Downtown Jail

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Framing of Imperial nearing completion.
[IMG]20150922_122903 by mgs11, on Flickr[/IMG]

[southtucsonboy77]

Nice progress.

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Revitalizing ABQ’s ‘spine’

By Richard Metcalf
Journal Staff Writer
Monday, October 12th, 2015 at 12:02am

The decision to tear down the Alvarado Hotel, an architectural gem in the California Mission Revival style in Downtown Albuquerque, was made in the normal course of business by owner Santa Fe Railway.

The historic hotel, built in 1902 and expanded in 1926, was still in operation on a lease basis by the fading Fred Harvey Inc. when the decision was made in September 1969. Four months later, demolition began.

“The teardown of the Alvarado Hotel in Albuquerque has truly haunted New Mexico,” said architect Barbara Felix, who was involved in recent historic preservation work at Santa Fe’s La Fonda on the Plaza. “We lost something that was very important.”

Tearing down the old through government condemnation and building new was the mantra of the “urban renewal” movement of the time, Albuquerque Mayor Richard Berry said.

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Apartment projects continue to emerge in East Nob Hill

Stephanie Guzman
Reporter
Albuquerque Business First

The sale of a more than 2-acre lot on Central Avenue in East Nob Hill is pending, and the potential buyer is pitching an apartment development.
Jerry Landgraf, the owner of the site at 4119 Central Ave. NE, under his Nob Hill Development Corp. entity, said a New Mexico developer is looking to develop the 2.5-acre site.

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There’s No Place Like Home: Civic Plaza Becomes the Heart of Albuquerque’s Community

By Project for Public Spaces on Oct 13, 2015

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While rentals boom, demand for Downtown condos and lofts see increased activity

Stephanie Guzman
Reporter
Albuquerque Business First

A closer look at the numbers for the Downtown corridor shows something surprising, though — sales activity for condos, townhomes and lofts has surpassed pre-recession levels. In 2007, there were 56 closings for “attached homes,” according to data from the Greater Albuquerque Association of Realtors. In 2015 so far, there have been 67 such sales in the corridor.

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Next marker for proposed Central Avenue-Presbyterian development is January

Stephanie Guzman
Reporter
Albuquerque Business First

Titan Development announced last month its plans to redevelop nearly 10-acres along Central Avenue, near to Presbyterian Hospital.
Kurt Browning, chief development officer and partner with Albuquerque-based Titan, said Friday that the project is advancing well. Plans are still conceptual, however, with new renderings and site plans produced each week, he said.

Browning says the development team, which includes Maestas Development Group, is aiming to submit plans to the city in January, when he said nearby residents will get a better idea of the site's layout. Currently, civil engineering firm Bohannan Huston and design firm Dekker/Perich/Sabatini are helping the development team better understand the site's infrastructure and what concepts it would support.

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Exclusive: San Diego group plans Uptown Albuquerque development

Stephanie Guzman
Reporter
Albuquerque Business First

A San Diego-based real estate company plans to turn an Uptown parking lot into a mixed-use development, with retail on the bottom floor and residences on top.
The real estate investment and management firm PARS Assets owns the office property at 2440 Louisiana Blvd. NE, Uptown Tower, known as the Lewis University building, and several adjacent parking lots. PARS has decided to first redevelop the underutilized parking lot in front of the office building, facing Louisiana Boulevard.

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Berry proposes $23.5 million in Downtown projects, including retractable arena

Blake Driver
Reporter
Albuquerque Business First

Downtown Albuquerque was in the spotlight in a big way Friday — a $23.5 million spotlight.
Mayor Richard Berry announced proposed plans for three projects in the corridor — at the Convention Center, Civic Plaza, and for a parking structure at the impending Entertainment District. The price of the projects would be generated from what Berry said has been a growth in revenue from the lodgers' tax. It's a slew of pieces that are part of an overall plan to turn Downtown into a "centralized place for both locals and visitors to gather."

"We're keeping it us. We're making this us. This is what we look like. This is what we feel like. That's what we did with the Convention Center the first time," Berry said at a press conference at the Albuquerque Convention Center.

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Downtown parking structure would serve Innovate ABQ, Convention Center, Entertainment District

Stephanie Guzman
Reporter
Albuquerque Business First

[IMG]one-central by mgs11, on Flickr[/IMG]

One Central, the entertainment district proposed on the northeast corner of Central Avenue and First Street in Downtown Albuquerque, would include a 400-space parking structure if the city has its way.
The multi-story parking structure would be paid for though the city lodgers' tax. The city wants to allocate $23.5 million in funds towards new projects Downtown, including $15.5 million towards the parking structure. Plans will eventually appear, and need to be approved by, the Albuquerque City Council.

The massive parking garage would serve Innovate ABQ at Broadway Boulevard and Central, the Albuquerque Convention Center and visitors and residents at One Central.

[southtucsonboy77]

Originally Posted by mgs11

Berry proposes $23.5 million in Downtown projects, including retractable arena

Blake Driver
Reporter
Albuquerque Business First

Downtown Albuquerque was in the spotlight in a big way Friday — a $23.5 million spotlight.
Mayor Richard Berry announced proposed plans for three projects in the corridor — at the Convention Center, Civic Plaza, and for a parking structure at the impending Entertainment District. The price of the projects would be generated from what Berry said has been a growth in revenue from the lodgers' tax. It's a slew of pieces that are part of an overall plan to turn Downtown into a "centralized place for both locals and visitors to gather."

"We're keeping it us. We're making this us. This is what we look like. This is what we feel like. That's what we did with the Convention Center the first time," Berry said at a press conference at the Albuquerque Convention Center.

It all sounds great, but all it takes is one bad idea to kill a plan. I wonder how feasible a retractable arena would be? I wish there was more information on that.

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Originally Posted by southtucsonboy77

It all sounds great, but all it takes is one bad idea to kill a plan. I wonder how feasible a retractable arena would be? I wish there was more information on that.

I've seen a rendering and was not impressed. It looks like a high school gym. I don't think this will attract the events that people want to see.
[IMG]developments for downtown by mgs11, on Flickr[/IMG]