BigTymeABQ
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STC.UNM Receives $1.5M EDA Grant for Innovate ABQ Source: U.S. Economic Development Administration WASHINGTON — U.S. Secretary of Commerce Penny Pritzker today announced that the Department's Economic Development Administration (EDA) is awarding $2.4 million in grants to support economic development projects in Louisiana, New Mexico and Texas. The projects are expected bolster job creation and spur stable and sustainable economies, according to grantee estimates. "The Obama administration is committed to investing in higher education and fostering innovation," said Secretary Pritzker. "The EDA grants announced today support regional economic competitiveness and job creation in Louisiana, New Mexico and Texas." The $2.4 million in EDA investments announced today include: $300,000 to the University of New Orleans in New Orleans, Louisiana, to support the implementation of the New Orleans Regional Innovation Alliance, a collaborative effort between universities, colleges, industry partners, and economic development organizations throughout southeastern Louisiana that will work to advance the region as an innovation engine. $1.5 million to STC.UNM in Albuquerque, New Mexico, a nonprofit corporation on the University of New Mexico's (UNM) campus that works with researchers, scientists, and companies to help get technologies developed at UNM to market. The funds will help establish a new innovation center to anchor Innovate ABQ, a collaborative initiative to bring together the research powers of the state's flagship university and Albuquerque's entrepreneurial and established business community to create new companies, grow existing ones, and attract more out-of-state business. https://stc.unm.edu/news/news.php?newsid=490
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State’s plan to buy Plaza Maya stalls Damon Scott Reporter- Albuquerque Business First The state’s plan to purchase Downtown Albuquerque’s Plaza Maya has stalled in the face of opposition from various groups. Last summer the state signed a purchasing agreement to buy the Plaza Maya in order to consolidate probation and parole offices now located in Nob Hill and East Downtown. Plaza Maya is an almost 63,000-square-foot building at First St. NW. The move would have lowered Downtown’s chronically high office vacancy rate, sitting at 30 percent. However, groups located near Plaza Maya, some of which serve young people, have vigorously opposed the move since the announcement. Those groups include NMX Sports, which operates the Warehouse 508 venue; Youth Development Inc.; The Cell Theatre; FUSION Theatre Co.; and a child care arm of the YMCA. http://www.bizjournals.com/albuquerque/news/2013/11/26/states-plan-to-buy-plaza-maya-stalls.html?ana=RSS&s=article_search&utm_source=dlvr.it&utm_medium=twitter&page=all
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How old buildings are dragging down ABQ's office market Damon Scott Reporter- Albuquerque Business First Despite some slight declines in vacancy rates this year, the office and industrial markets in the metro area have significant obstacles to overcome. The subject was center stage Monday at a NAIOP luncheon in Albuquerque, with experts in both markets providing an up-to-date outlook. NAIOP is the commercial real estate development association with a New Mexico chapter. The event was co-sponsored by the local chapter of SIOR, the Society of Industrial and Office Realtors. Tim With, the event’s moderator, said the soft office and industrial market since 2008 is directly tied to a lack of job growth. http://www.bizjournals.com/albuquerque/news/2013/11/25/old-building-drag-down-abq-office-market.html?ana=e_du_pub&s=article_du&ed=2013-11-25&page=all
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http://ow.ly/i/3Kd5t/original
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In Laid-Back Albuquerque, Millennials See a Chance to Live Well Nona Willis Aronowitz The Atlantic Cities When I first started this “Where Millennials Can Make It” series, I put Albuquerque in the category of “Towns Luring Back Their Townies,” likening its appeal to the revitalization happening in Cleveland or Pittsburgh. But when I sat down to write this piece, I realized the city was in a category of its own. It’s not a post-industrial city being made over by its natives. It’s also not a place that’s just overflowing with jobs, nor one that particularly attracts young artists or scrappy entrepreneurs. You won’t find Albuquerque on many other “best cities for Millennials” lists. But what I learned during my visit there is that Albuquerque’s off-the-radar status is exactly why young people love it. Since the recession, the U.S. economy has been been downright scary for Millennials. Albuquerque offers an oasis of sorts, where the property is cheap, the mountains are beautiful, and the nightlife is vibrant—but not overwhelming. The new geography of being young in America See full coverage The number one word Albuquerque Millennials used to describe their city was “livable.” That’s the reason Lauren Foley, 27, came home to Albuquerque from San Francisco a couple of years ago to get her master’s degree in nutrition. She loved the Bay Area, and she was making a decent living working at a mortgage company there, but the work didn’t interest her. She wanted to go back to school, and just the thought of living off loans in pricey California stressed her out. So she convinced her boyfriend, another Albuquerque native, to come home with her. She enrolled at the University of New Mexico and they signed a lease for a one-bedroom right near campus for $625 a month. http://m.theatlanticcities.com/jobs-and-economy/2013/11/laid-back-albuquerque-millennials-see-chance-live-well/7612/
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Investors plan to revive long-idle hotel in prime location Damon Scott Reporter- Albuquerque Business First The hotel has sat empty for four years, a symbol of the recession in Albuquerque. An investment group that includes members of the Allen Sigmon Real Estate Group said Friday that it has purchased what was originally slated to be a Four Points by Sheraton hotel at 1660 University Blvd. NE. The structure is located near the Big I interchange and sits just west of a University of New Mexico-owned office building. The 121-room hotel broke ground in 2007 and was about three months from being completed when the parent company of the lender that financed the project was taken over by the FDIC in 2009, according to a 2010 Albuquerque Business First story. It has been sitting idle ever since. http://www.bizjournals.com/albuquerque/news/2013/11/15/investors-plan-foreclosed-hotel-rebirth.html?ana=twt
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Potential Urlacher sports bar-restaurant creates UNM buzz Damon Scott Reporter- Albuquerque Business First The idea of a sports bar-restaurant concept involving former University of New Mexico football star Brian Urlacher got some renewed attention last week. When Urlacher’s jersey was retired at UNM’s Nov. 8 football game, he and UNM President Robert Frank were asked about the potential for development of a sports bar-restaurant on south campus that would bear his name, or at least, have his hand in it. Rumors that Urlacher might get involved in a restaurant project on south campus have swirled for months. UNM Director of Communications Dianne Anderson said Urlacher answered questions at the game about the idea of the sports bar and said he thought it should be a good fit and he is in talks with UNM about the possibility. http://www.bizjournals.com/albuquerque/news/2013/11/12/potential-urlacher-sports-bar-unm-buzz.html?ana=twt&page=all
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Innovate ABQ gets $3M boost from NMEFCU Dan Mayfield Reporter- Albuquerque Business First Innovate ABQ is a step closer to becoming a reality, with a new $3 million gift from the New Mexico Educators Federal Credit Union. NMEFCU has pledged to give the University of New Mexico $1 million annually for the next three years to help the school purchase the 7.5-acre plot currently occupied by the old First Baptist Church at the corner of Broadway Boulevard and Central Ave, and use it as the site of the new Innovate ABQ business incubator, said NMEFCU president and CEO Terry Laudick. The gift is the first private funding the school has received for the project. UNM has also been promised about $3 million from the city of Albuquerque, and is awaiting another $1.5 million in U.S. Economic Development Administration grant funding, said UNM President Bob Frank. http://www.bizjournals.com/albuquerque/blog/morning-edition/2013/11/innovateabq-gets-3m-boost-from-nmefcu.html?ana=e_abq_rdup&s=newsletter&ed=2013-11-11&page=all
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UNM's Frank makes push to acquire Aperture Center Dan Mayfield Reporter- Albuquerque Business First The University of New Mexico is charging ahead in its goal of acquiring the Aperture Center building at Mesa del Sol, said UNM President Bob Frank. At next Tuesday’s UNM Board of Regents meeting, Frank said, he will present a plan that would allow the university to make a $4.5 million bid for the LEED-certified building, into which it would expand its STC.UNM incubator. “We don’t own that building. We want to. It’s just sitting there,” Frank told Business First. http://www.bizjournals.com/albuquerque/news/2013/11/08/unms-frank-makes-push-to-acquire.html?ana=RSS&s=article_search&utm_source=dlvr.it&utm_medium=twitter
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Innovate ABQ Pieces Coming Together Albuquerque, NM - October 31, 2013 The October 25th edition of Albuquerque Business First featured a front page story on the latest developments and thinking behind Innovate ABQ, the economic development initiative to building an innovation district being spearheaded by UNM and the City of Albuquerque. Innovate ABQ is a public/private partnership among the University of New Mexico (UNM) and New Mexico's government, education and business communities to purchase properties and develop innovation districts that will be catalysts for substantially growing the innovation economy in New Mexico. See Dan Mayfield's article, "Innovate ABQ: Putting the Pieces Together," reprinted below. Innovate ABQ: Putting the pieces together The city is inspired. The University of New Mexico, the city of Albuquerque, economic developers and private real estate developers are coalescing around Innovate ABQ, a multimillion-dollar project that could create the kind of business ecosystem that experts say helps startups thrive. When Robert Frank, president of the University of New Mexico, took a group of 18 business leaders from Albuquerque to visit the University of Florida's Innovation Hub last year, he set the school on a path to remake how it does economic development. The major ingredient: its own version of Florida's Innovation Square concept. "When we saw what they did, they seemed so far ahead of us," Frank said. "Now, 18 months later, we're making a lot of progress." The vision is to create a giant new business factory, where students and experienced entrepreneurs converge, bump into each other, create new businesses, design new products and boost the city's economy. And Innovate ABQ should be more than simply an incubator or business park. https://stc.unm.edu/news/news.php?newsid=476
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I saw this at the parking lot of the SE corner of 4th and Granite in downtown ABQ.
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Albuquerque's Central Avenue to get free WiFi Posted at: 10/21/2013 6:20 PM {sodEmoji.|} Updated at: 10/21/2013 8:16 PM By: Erica Zucco, KOB Eyewitness News 4 Albuquerque has a plan to install free, high speed wireless internet on Central Avenue from 98th to Tramway. Earlier in October, voters passed a one million dollar bond to support the project. Now, the city’s looking for a developer. It’s not just about getting people to the city center. The city also wants to serve neighborhoods with less access, and to make internet cheaper for businesses. “We need internet access like we need water and like we need electricity,” CABQ IT Director Peter Ambs said. “It's really a utility we as a city are gonna take the lead on to provide for economic development.” Businesses will have to pitch in if they use a lot of bandwidth, but regular people will have free access. The connection will be faster than a typical line. The city must take “requests for information” first. Then they will begin the formal proposal process. http://www.kob.com/article/stories/S3197720.shtml?cat=500
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Approval sought to start Santolina community Damon Scott Reporter- Albuquerque Business First Public feedback on a proposed 13,700-acre master planned community in southwest Bernalillo County is taking place this month. Land owners Western Albuquerque Land Holdings is requesting approval from the Bernalillo County Planning Department on the first phase of the Santolina Master Plan. The undeveloped land is generally bounded by Interstate 40 to the north, 118th Street to the east, the Pajarito Mesa to the south and an area adjacent to the Rio Puerco Valley on the west. While the plan is based on future demand and economic conditions, the master plan outlines a structure for development which includes residential and commercial uses, open space, roads, utilities and more. The plan states that, “Over time, it is anticipated to be developed with approximately 38,000 households and to provide approximately 75,000 jobs.” http://www.bizjournals.com/albuquerque/blog/morning-edition/2013/10/approval-sought-to-start-santolina.html?ana=twt&page=all
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Found this cool pic. https://scontent-a.xx.fbcdn.net/hphotos-frc3/1380621_586273011435814_311279302_n.jpg
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New master plan coming for BioPark Gary Gerew Assistant Editor- Albuquerque Business First The city is launching the creation of a new master plan to direct the future of the ABQ BioPark over the next 20 years. The plan will cover all four of the BioPark’s four attractions — the Zoo, Aquarium, Botanic Garden and Tingley Beach. The process will take about nine months. “The ABQ BioPark is the crown jewel of our state and city,” said Mayor Richard J. Berry. “We want to take the facility forward so that next generations can enjoy the BioPark, and the master plan will help us do this.” http://www.bizjournals.com/albuquerque/blog/morning-edition/2013/10/new-master-plan-coming-for-biopark.html?ana=e_abq_rdup&s=newsletter&ed=2013-10-18
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Innovate ABQ could include ‘entrepreneurial dorms’ and more Dan Mayfield Reporter- Albuquerque Business First The University of New Mexico has crafted some concept images for its business idea factory, Innovate ABQ. Last week, Albuquerque voters approved a bond measure that would send $2 million of city funds to the project. “What we want Innovate ABQ to be is a research district that would be a live/work/play environment to be an incubator that would go beyond that, create an entrepreneurial environment for students, professors and retail,” UNM President Bob Frank told Albuquerque Business First. “It would go up instead of sprawl out.” http://www.bizjournals.com/albuquerque/news/2013/10/15/innovate-abq-entrepreneur-dorms-more.html?ana=e_du_pub&s=article_du&ed=2013-10-15&page=all
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Innovate ABQ will benefit from voter-approved bond Dan Mayfield Reporter- Albuquerque Business First The plan for the Innovate ABQ business factory is coming together, now that voters approved $2 million worth of funds that will help get the project off the ground. City voters approved a $10.4 million bond for senior and family centers and community enhancement projects this week, $2 million of which will be used to help create Innovate ABQ, Albuquerque Mayor Richard Berry said. Both Berry and University of New Mexico President Robert Frank say the new funds will give the project a boost. http://www.bizjournals.com/albuquerque/news/2013/10/11/innovate-abq-get-2-million-voter-bond.html?ana=twt
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Albuquerque & Sennheiser: The sound of success European CEO Wednesday, October 9th, 2013 Much has been said of America’s waning manufacturing prowess of late, with many left wondering if the nation’s former competitiveness will ever return. The July downfall of Detroit only served to underline these fears, illustrating that the US’s production power is not what it once was. Nonetheless, recent manufacturing figures are beginning to show signs of resurgence, with some analysts going so far as to suggest that the world’s largest economy is gathering market momentum. Manufacturing – it seems – will live again, and as the industry looks a far more favourable bet, many companies are seeking the best business climate for accommodating this upward industry trend. Aside from the region’s geographical benefits, Albuquerque is awash with generous tax incentives, with each intended to curb operating costs and lower corporate tax rates Albuquerque – New Mexico’s most populous city with 912,000 residents – is emerging as one such business locale. Best characterised by a highly skilled workforce, low taxes, powerful incentives and an extremely low cost of business, the region looks the perfect destination for the revival of US industry. http://www.europeanceo.com/finance/2013/10/albuquerque-the-sound-of-success/
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Hammers at work on residential lofts at 517 Gold Damon Scott Reporter- Albuquerque Business First The out-of-state developer of an eight-story Downtown former federal office building says work on phase one is progressing. The completion date of the first phase of what will be residential lofts at 517 Gold Ave. has been extended, however. “Things are moving along and we’re up to framing and doing plumbing and electric work on the first two floors,” said Anthony Mehran, a New Jersey-based developer and owner of Huffman Koos Furniture. http://www.bizjournals.com/albuquerq...medium=twitter
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UNM eyes downtown church for business site First Baptist Church property may become new hub By Chris McKee KRQE News 13 ALBUQUERQUE (KRQE) - The University of New Mexico is considering paying millions of dollars to buy a church. While it might sound strange, the university says investment could actually bring a long-sought "business incubator" hub right to downtown Albuquerque. UNM is the latest group to consider buying the First Baptist Church property at the corner of Broadway Boulevard NE and Central Avenue. Both the city of Albuquerque and Albuquerque Public Schools had considered buying the property in the past. However, those deals fell through, and the property has sat vacant for years. “We could really create that live-work-play community there,” said Lisa Kuuttila, president and CEO of UNM.STC, also known as the Science and Technology Center. http://www.krqe.com/news/local/unm-e...-business-site
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Anasazi ready for its next act Dan Mayfield Reporter- Albuquerque Business First The revamp of the Anasazi high-rise building Downtown was officially unveiled on Thursday. The Anasazi has gone through a long road to get here. Its former developer, Vincent Garcia, pleaded guilty to criminal charges regarding the misuse of bank loans. The high-rise is ready to start selling units and leasing space, said Marguerite Haverly, a senior associate with Colliers International. So far none of the condos have been sold and no tenants have signed leases, she said. http://www.bizjournals.com/albuquerq...medium=twitter
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UNM awaits word on federal funds for Innovate ABQ Dan Mayfield Reporter- Albuquerque Business First By the end of the month, the University of New Mexico should know if it can proceed with buying the Aperture Center at Mesa del Sol and the First Baptist Church building Downtown to start its Innovate ABQ incubator. The school hopes to get word soon on a $1.5 million federal Economic Development Administration grant that would make the new Innovate ABQ incubator a reality. The grant would match funds from the school. http://www.bizjournals.com/albuquerq...ovate-abq.html
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Here’s an idea for managing growth By John Hooker newmexicomercury.com Traditionally, Albuquerque has grown outward as fast as it could. The choice is whether we should grow up instead. Mayor Berry has called the 10-year-old impact fee system “unfair” to growth on the edge, to developers and merchant homebuilders. But wasn’t the intent to balance the public costs of growth on the edges with the cost of maintaining the older city? Wasn’t the problem that there were neighborhoods on the West Side that weren’t going to get public parks for another 25 years because there wasn’t any money for them – unless we robbed the existing city. Isn’t the problem that we are robbing the existing city to pay for our way of growing past the horizon? For years, the city of Albuquerque and the surrounding county and towns have been planning on growth. The path has been clear: Build, move out to the next piece of empty land and build again. The result over the past 20 years has been just that - the urbanized area in and around Albuquerque has grown faster than the population. Perhaps 20 years ago we realized that we, the public, could not afford to keep up with that growth without new taxes on existing homeowners and businesses or without starving old neighborhoods of needed renewal and replacements of old infrastructure. http://newmexicomercury.com/blog/com...anaging_growth
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Tres Amigas signs Downtown Albuquerque lease Dan Mayfield Reporter- Albuquerque Business First The old Petroleum Club in Downtown Albuquerque has a new tenant. Tres Amigas LLC has signed the lease to move its corporate headquarters, back office and operations to the former restaurant space on the top floor of the building at 500 Marquette. The company signed a lease on Friday, said company CFO Russ Stidolph. Terms were not disclosed. http://www.bizjournals.com/albuquerq...&ed=2013-09-13
