BigTymeABQ

Geltmore Group has more plans for Downtown Damon Scott Reporter- Albuquerque Business First “We want Downtown to grow and become a 21st century place, an amazing place,” he said. The Silverman’s have been looking at vacant Downtown office buildings and the viability of converting some into market rate apartments. The projects would appeal to millennials and baby boomers, Silverman said, and would steer clear of gentrification and help build a ready labor pool Downtown so potential employers will take note. http://www.bizjournals.com/albuquerque/blog/morning-edition/2014/08/geltmore-group-has-more-plans-for-downtown.html?ana=e_abq_rdup&s=newsletter&ed=2014-08-22&u=QWbVgCvipWuhWtd1eDprQQ08961b90&t=1408717364&page=all

Walk-bike-transit scores driving higher apartment rents in Albuquerque Damon Scott Reporter- Albuquerque Business First Apartment communities in the Albuquerque area that have solid walking, biking and transit scores command an average rent that is almost 26 percent higher than those that do not. That was one of the main takeaways Wednesday at the Apartment Association of New Mexico’s 2014 outlook held at the Hyatt Regency Albuquerque. It is the first time the association has included a walk score in its assessments and, New Mexico apartment expert Todd Clarke said, probably one of the first groups in the country to do so. “They drive less, and some are already not buying cars,” Clarke said. The “they” are millennials — 18-to-35-year-olds — and they are sparking the apartment market across the country and in part in Albuquerque. Clarke is a consultant who has been studying millennials and their effect on real estate for many years. He said new data shows that there is less than one car per millennial nationwide. He said the cities that cater to the group’s desire to rent and use mass transit are seeing a payoff. The good news for Albuquerque is that it is one of the top cities in the Southwest for walkability, bikability and mass transit, Clarke said. http://www.bizjournals.com/albuquerque/news/2014/08/20/walk-bike-transit-scores-driving-higher-apartment.html?utm_medium=referral&utm_source=t.co&page=all

Downtown campus plan in progress By Daniel Montaño Daily Lobo After 18 months of planning, the grand vision of Innovate ABQ is coming into focus. The design firm Perkins and Will publicly presented its initial master plan for Innovate ABQ to the Board of Regents on Aug 8, explaining the different possibilities for the future of the venture. Although because plans just got underway, specific details are still being worked out. Lisa Kuuttila, CEO of STC.UNM, has been heavily involved with the project and said unveiling the master plan marks a pivotal moment for Innovate ABQ. "This is a very interesting process and we're very excited to kick this off," Kuuttila said. "This marks a critical step forward taken with a critical mindset." Andrew Cullen, associate vice president of planning, budget and analysis, said the planning process is expected to be finished and presented to the Board of Regents for approval by December. In the week before their presentation, representatives from Perkins and Will met with several groups - including ASUNM, GPSA, the Dean's council and neighborhood organizations - to discuss the plans, Cullen said. "We're very excited about the prospect of moving forward with the master plan," he said. "We had an excellent reception from all of our constituent groups." Innovate ABQ's main campus will include office space that will be available for high-tech industries, research firms and similar companies, Cullen said. The main campus will be located on the northeast corner of First Street and Broadway Boulevard, where the First Baptist Church is currently located, but Innovate ABQ will also include a research district, which will extend along Central Avenue and Broadway, he said. http://www.dailylobo.com/article/2014/08/8-18-innovate-abq-update

Albuquerque approves plan to make downtown streets safer By: Kai Porter KOB Eyewitness News 4 If you've ever thought it can be a little hairy driving around downtown Albuquerque, you're not alone. City officials are taking a closer look at some of the most dangerous intersections, and have a plan to do something about them. Albuquerque just released a traffic study that determined the most dangerous intersections in the city. The City Council approved new money to fix up the number one problem intersection on the list – 3rd and Mountain. Josh Meyer works on the corner of 3rd and Mountain and says he's not surprised it earned the top spot on the list. "We're worried that someone's going to come through the building," Meyer said. "We've seen numerous accidents – I've seen cars parked up on the sidewalk after accidents. I've seen cars turned over. I've seen cars in just about any precarious position you can imagine." He said he's glad to hear the city will finally be making some improvements to the area. "We've been talking to people trying to get some kind of situation where they can be alerted that there's an intersection here, because I think people look past it trying to get some deterrent or flashing lights to slow some people down," Meyer said. Albuquerque Business first compiled the top ten most dangerous intersections list, according to the downtown neighborhood traffic study. http://www.kob.com/article/stories/s3537214.shtml#.U_Sxt8VdW5h

Councilors tired of waiting for the bus Dan Mayfield Reporter-Albuquerque Business First The city’s medians along Central Avenue have not been landscaped because of Bus Rapid Transit planning, but several city councilors are fed up with waiting. Bus Rapid Transit is a new type of service that will speed up the city’s busses by giving them dedicated bus lanes, or extra right-of-way through medians. At Monday night’s City Council meeting, four of the nine councilors asked for an updated time line to the BRT plan, and showed displeasure at the time it is taking for the city’s Transit Department to have public meetings on BRT. “After four years now, people are starting to wonder if it’s ever going to happen,” Councilor Rey Garduno said. Councilors whose districts contain parts of Central Avenue have wanted to have medians landscaped but have been unable to, they said. City Transit Director Bruce Rizzeri said that his department has been following a time line that it established in February, and that it would be able to move forward with BRT plans once it has public meetings in October. http://www.bizjournals.com/albuquerque/blog/morning-edition/2014/08/councilors-tired-of-waiting-for-the-bus.html?ana=e_abq_rdup&s=newsletter&ed=2014-08-19&u=QWbVgCvipWuhWtd1eDprQQ08961b90&t=1408459263&page=all

Design build plan to rescue De Anza Motor Lodge By Richard Metcalf Journal Staff Writer The proposed redevelopment of the long-closed De Anza Motor Lodge in Nob Hill reached a pivotal point Thursday when a city official announced the release of a request for proposals at an “Infill 101″ workshop held by NAIOP, the commercial real-estate development association. The RFP is the equivalent of soliciting bids or proposals from developers to design and build a new life for the historic but now derelict property at 4301 Central NE, built in 1939 and purchased by the city of Albuquerque in 2003. The deadline for the proposals is Jan. 9. The RFP’s release at the Infill 101 workshop coincided with the presentation of a hypothetical plan to redevelop the 2.1-acre De Anza site as a mix of uses, including high-end apartments and a hotel, at an estimated cost of $9.9 million. The redevelopment was based on the city donating the site and private financing. The hypothetical plan to redevelop the De Anza was one of several case studies outlined by teams of commercial real estate pros at the workshop to illustrate the challenges of urban infill. While the De Anza plan isn’t a real proposal, it was based on onsite visits, brainstorming and real world cost estimates. “The site is something the community knows about and has strong feelings about,” said team member Tom Jenkins of Real Estate Advisors. “That was something we had to keep in mind.” The city’s RFP and the hypothetical plan coincided on one important element in the De Anza’s redevelopment: the property’s three buildings fronting on Central and a basement with murals by a Zuni artist would be preserved and renovated. While the city’s RFP doesn’t get into details on what happens to the rest of the property, the hypothetical plan calls for tearing the rest down and replacing it with a 45-room hotel and 41 apartments, both in three-story buildings. The hotel and apartment would share a clubhouse, fitness center and swimming pool. The hotel and apartments would be built atop “subterranean” or partially underground parking structures. http://www.abqjournal.com/445995/biz/design-build-plan-to-rescue-de-anza-motor-lodge.html

Albuquerque rail yards named historic district By: The Associated Press SANTA FE, N.M. (AP) - Albuquerque's rail yards and an expanded area of downtown Raton have been designated as state historic districts. The New Mexico Department of Cultural Affairs announced the new historic sites on Monday. The department says Albuquerque's rail yards, which were established in 1880, are the state's largest historic industrial complex. The Cultural Affairs Department's properties review committee listed the Albuquerque rail yards on Aug. 8, noting the area's historical and architectural significance. It also forwarded the nomination to the National Park Service as a potential National Register of Historic Places listing. The committee also expanded the Raton Downtown Historic District by increasing its northern and southern boundaries, and by including buildings constructed through 1966 as contributing to the district. The historic district originally established in 1977 included buildings constructed between 1880 and 1927. http://www.kob.com/article/stories/S3530339.shtml?utm_medium=referral&utm_source=t.co&cat=504

Rail Yards developer required to build some workforce housing Damon Scott Reporter- Albuquerque Business First Quote: How many living units might end up at Albuquerque’s historic Rail Yards? It’s still a little too early to tell. Now that the city has signed a development agreement with Samitaur Constructs, predevelopment work will ramp up — like soil tests and historic preservation activities — but it will also begin looking at potential tenants. Because it is a relatively large site at 27.5 acres and is a mixed-use development, housing stands to be in the blend. And the city expects it as well. “Housing is an important component of any mixed-use redevelopment,” said Rebecca Velarde, who is the city’s metropolitan redevelopment manager. “The master development plan provides three locations on the site where housing could potentially be developed. These locations are along the edge of the property, where housing can act as an appropriate transition between the neighborhood and the site,” she said. Velarde said since the Rail Yards were purchased in part using workforce housing funds, Samitaur will be required to build a minimum of 30 workforce housing units. Workforce housing is generally defined as mixed-income, often including those in professions like nursing, first responders, teachers, police and fire department workers. East Downtown developer Rob Dickson hopes the Rail Yards land much more than just 30 living units. “Great public spaces are constantly and inevitably occupied,” Dickson said. “Will [the Rail Yards] become such a place? Only if Samitaur builds a lot of housing there, and that housing frames the public spaces.” http://www.bizjournals.com/albuquerque/news/2014/08/12/rail-yards-developer-required-to-build-some.html?utm_source=dlvr.it&utm_medium=twitter&page=all

Jeff Speck Lecture: Toward A Walkable Albuquerque

UNM lays out master plan for Innovation District Dan Mayfield Reporter- Albuquerque Business First There’s a rule of thumb city planners use: for every 100 square feet of restaurant space, that restaurant needs one parking space. “So, for every 100 square feet of dining space, you need 300 square feet of parking. That’s just insane. That rule comes from one study, done in 1971, from one restaurant in Oklahoma City,” said David Green, one of the planners with Perkins & Will, the company that the University of New Mexico has hired to do the master plan for Innovate ABQ. “But that’s the rule.” Rules like that, he said on Wednesday morning at the University of New Mexico, can hamper cities’ efforts to develop innovation districts that are walkable, sustainable and convenient. Green presented, for the first time to the public, the overall view of the Innovation District and how UNM’s new Innovate ABQ will fit in. Restaurant parking policies, Green said, are just one example of how city planning — in Albuquerque and elsewhere — can ruin a master plan like his. http://www.bizjournals.com/albuquerque/news/2014/08/06/unm-lays-out-master-plan-for-innovation-district.html?page=all

Office to apartments play in Uptown By Associated Press A four-story, 77,647-square-foot office building in the center of Uptown has been offered for sale as a residential conversion opportunity, a real estate play that could be a harbinger of things to come in the Albuquerque metro area’s beleaguered office market. “We’ve had this collision of a depressed office market, which I think will take a long time to recover, and the Uptown Village apartments that are fully occupied with a waiting list,” said John Lewinger, who is part of a local investment group that owns the building at 2424 Louisiana NE. Opened in 2008 by Hunt Development Group, the 198-unit apartment property at 2222 Uptown Loop NE, next to Trader Joe’s specialty grocery store, is widely recognized as one of the metro’s top-performing apartment properties. It’s part of the stylish ABQ Uptown mixed-use development. Founder of what is now Colliers International, a commercial real estate services firm that leases its office at 2424 Louisiana, Lewinger said the germ of the idea to “repurpose” the office building was partly his own personal circumstance. An East Mountain resident for 25 years, the 69-year-old and his wife have been contemplating a move to an urban setting near restaurants, movies and shopping. He said the building at 2424 Louisiana would be a perfect place to have an urban apartment. “The buzzword today is walkability,” said Jane Pilger, a broker at Colliers who, with Lewinger, is marketing 2424 Louisiana at an asking price of $6,395,000. “This property has walkability in spades.” http://www.abqjournal.com/441160/biz/office-to-apartments-play-in-uptown.html

East Downtown’s Pop ‘N’ Taco could become mixed-use development Damon Scott Reporter- Albuquerque Business First In some ways, the vacant and dilapidated Pop ‘N’ Taco is East Downtown’s version of Nob Hill’s De Anza Motor Lodge. Although it’s not on city-owned land, the site on the northeast corner of Edith Boulevard and Central Avenue is one of the corridor’s biggest eyesores. But it also has the potential to be a profound catalytic project in the area. The EDo Neighborhood Association, Huning Highland Historic District Association and others have successfully prevented the property from becoming a Subway drive-thru concept. That is what the owners of the land had wanted to do, represented through a Wells Fargo trust. The issue for most was not necessarily the Subway itself, but the drive-thru concept. The EDo master plan calls for neighborhood development to be pedestrian-friendly. http://www.bizjournals.com/albuquerque/news/2014/07/28/east-downtown-s-pop-n-taco-could-become-mixed-use.html?utm_source=dlvr.it&utm_medium=twitter

Upscale lodging at Old Town By Richard Metcalf Journal Staff Writer Old Town is getting an upscale five-story, 118-room boutique hotel, thanks to a bullish move by veteran local hotelier and real-estate investor Jim Long. “It’s a move that’s a bit ahead of the market right now,” Long told the Journal. “It’s a forward-moving project. This is an expression of our commitment to invest in this community.” The new hotel is a substantial development play. Although Long declined to give an estimated cost for the project, HVS Global Hospitality Services’s annual hotel development cost survey would put the total project cost at upward of $31 million. Construction is scheduled to begin by late fall, with completion set for spring 2016. Owned and operated by Long’s Heritage Hotels and Resorts Inc., the proposed new hotel will be built on the vacant 2.6-acre site just northeast of Heritage’s 11-story, 188-room Hotel Albuquerque at 800 Rio Grande NW. ‘A destination opportunity’ The 120,000-square-foot boutique hotel will be built at the corner of Bellamah and 20th NW in what is officially the Sawmill district, an eclectic neighborhood bordering the north side of Old Town that's seen continuing redevelopment. The 120,000-square-foot boutique hotel will be built at the corner of Bellamah and 20th NW in what is officially the Sawmill district, an eclectic neighborhood bordering the north side of Old Town that’s seen continuing redevelopment. The hotel will create about 100 jobs, ranging from management to service positions. Its guests likely will be either “leisure transient” customers – travelers and tourists – or group business customers, Long said. “Honestly, I think this hotel may become a destination opportunity,” he said. Room rates will run about $160-$170 a night. The new property will have its own name, identity and amenities, although its guests will have access to Hotel Albuquerque’s meeting space and swimming pool. The new hotel’s entrance will face the corner of Bellamah and 20th NW. Its working name is Hotel Old Town. “This will be a step above Hotel Albuquerque,” Long said, saying it will meet the standards of a Four Diamond Hotel by AAA. The new hotel’s amenities will include a “signature” restaurant featuring modern Native American cuisine, a rooftop restaurant and lounge with adjacent event space, a 6,000-square-foot spa, 1,200-square-foot fitness room and 3,000 square feet of retail space. Albuquerque Hotel was built in 1975 as a Sheraton. Purchased by Heritage in 1999 and extensively renovated starting a year later, it has an average occupancy rate in the 80 percent range and is one of the most successful hotels in New Mexico, Long said. A great location This architect's rendering shows what Albuquerque's newest hotel will look like. The five story property is being developed by hotelier Jim Long on property just northeast of his Hotel Albuquerque. (Courtesy of Gensler) This architect’s rendering shows what Albuquerque’s newest hotel will look like. The five story property is being developed by hotelier Jim Long on property just northeast of his Hotel Albuquerque. (Courtesy of Gensler) “It’s an ideal location,” he said. The addition of the new hotel’s 118 rooms will bring the overall property’s room count to just past the 300 threshold, which will give Heritage more flexibility in marketing Hotel Albuquerque’s extensive meeting space, upward of 41,000 square feet, for conventions, Long said. The hotel was designed by Gensler, a global architecture firm headquartered in San Francisco, and inspired in part by the ruins at Chaco Canyon. The design blends contemporary and traditional pueblo elements. http://www.abqjournal.com/436373/biz/upscale-lodging-at-old-town.html

City signs Rail Yards agreement Andy Beale Digital Producer- Albuquerque Business First Chief Administrative Officer Rob Perry signed an agreement with Samitaur Constructs today to begin developing the 27-acre Rail Yards site. The agreement, known as a Master Development Disposition Agreement, lays out the relationship between the city and the developer and defines what is expected of the developer at the site. The MDDA was already approved by the City Council on June 16, along with the overall master development plan. City Planning Director Suzanne Lubar said once the MDDA has been signed, Samitaur can begin laying the groundwork for actual development. “Basically, now that the MDDA is being signed today by the CIO, Rob Perry, it allows Samitaur to start predevelopment activities on the site,” Lubar said. “Those activities can include conducting soil studies at the site, meeting and negotiating potential leases with the tenants and working with the city and the state development office to create a memorandum of understanding that will guide how these historic properties will be treated.” Signing the MDDA also allows the city to start looking for the money it will need for the development efforts. http://www.bizjournals.com/albuquerque/news/2014/07/24/city-signs-rail-yards-agreement.html?page=all

Architectural Feature: Imperial Building New Mexico Architectural Foundation http://newmexicoarchitecturalfoundation.org/2014/07/18/architectural-feature-imperial-building/ http://www.dpsdesign.org/assets/uploads/general/Imperial-Building-Final-MFA-Package-web.pdf

Rising from the ashes: Business First’s exclusive tour of Innovate ABQ’s future home Dan Mayfield Reporter- Albuquerque Business First You can still smell the remnants of the fire. About three years ago, a fire ravaged the old First Baptist Church on Central and Broadway. It ran through the two-story classroom building and parts of the old church. The building is getting new life, however, because last Friday, UNM closed on the purchase of the First Baptist Church. It will become the home of Innovate ABQ, the school’s new business incubator and technical facility. But it’s clear from Business First’s exclusive tour of the building on Friday that a lot of work still has to be done. See the accompanying slideshow for a peek inside. Thieves stole copper electrical fixtures from the west side of the building. It has no power. The water has been turned off for so long that all the pipes now emit a smell like an open sewer. The skylights leak. The ceiling tiles are stained, and the walls are cracked. Danny Whatley, who is the director of Noon Day Ministries and the caretaker of the church, says the bones are good. http://www.bizjournals.com/albuquerque/news/2014/07/18/rising-from-the-ashes-business-first-s-exclusive.html?ana=e_du_pub&s=article_du&ed=2014-07-18&u=QWbVgCvipWuhWtd1eDprQQ08961b90&t=1405718295&page=all

Rail Yards keeps chugging along Damon Scott Reporter- Albuquerque Business First Mayor Richard Berry’s office and the City Planning Department will soon announce the next steps regarding development of the historic Rail Yards just south of Downtown. Berry’s isn’t the first administration to try and get the project moving. And it’s a big one — more than 27-acres worth. It’s at least the fourth effort to redevelop the site with many interested developers. It has the potential to build on Downtown revitalization efforts the city has already set into motion and become a destination for tourists and residents alike. A milestone was reached recently when the Albuquerque City Council approved a master development plan with California’s Samitaur Constructs. It was a long time coming. Headed by land developers Frederick and Laurie Samitaur Smith, the firm is known for bringing properties like the Rail Yards back to life in other markets. They are expected to comment on the development plan through the forthcoming city announcement. Eric Griego, former city councilor and state senator, sits on the Rail Yards Advisory Board — a group organized by City Councilor Isaac Benton. He’s also a former resident in the neighborhoods adjacent to the Rail Yards and an organizer of the wildly successful Rail Yards Market. “We don’t want a mall. We’d like to convert what has so far been an interim use into a centerpiece,” Griego said. That interim use, the market, has brought more than 50,000 people to the Blacksmith Shop on the development’s north end — a one- day-a-week market that just started in May. Under Berry, the city spent about $1 million to rehabilitate the 27,000-square-foot Blacksmith Shop space last year to be used for events. It has proven to be a popular move as its also hosted a mixed martial arts event and the “Yards Craft Beer Premier.” It had been decades since the Rail Yards had been open to the public. The WHEELS Museum is open there, but is a separate entity from the city. “My goal and hope is that Samitaur and the city will recognize that there are compatible uses. Maybe retail, restaurants or other commercial uses, but still maintaining a strong community feel,” Griego said. Griego said making room for local growers, artists, performers, musicians and poets would add to the uniqueness of the development of the site. Samitaur Constructs is a California-based developer that has made a name for itself by rehabilitating commercial and industrial buildings that have deteriorated and are often crime ridden. It has also been involved in many public-private endeavors. One of its biggest projects was the transformation of the Hayden Tract area of Culver City, where Samitaur built Conjunctive Points. The project is a mixed-use urban business park of workspaces, restaurants, parks and an exhibit and performance space called Samitaur Tower I. Conjunctive Points attracted several diverse tenants, including media firms, productions houses, creative agencies, high-tech companies and national names like FOX Studios West Coast headquarters and Sony Corp. of America. The firm has developed more than 1 million-square-feet of office and studio space valued at more than $180 million at Conjunctive Points. http://www.bizjournals.com/albuquerque/print-edition/2014/07/18/rail-yards-keeps-chugging-along.html?page=all

Will NoLo be Albuquerque’s next EDo? Damon Scott Reporter- Albuquerque Business First East Downtown has established itself as an alluring corridor adjacent to Albuquerque’s urban center. And while developers and residents want to keep building momentum, EDo already has popular lofts, restaurants, boutique retail, barbershops, salons and yoga studios. It also has one of the best rooftop patios in the city at Hotel Parq Central, itself a desirable lodging destination. But eyes have recently turned anew to the possibilities at another of Downtown’s adjacent corridors — the area north of Lomas Boulevard, dubbed NoLo. The corridor, generally bounded by Lomas, Broadway Boulevard, I-40 and 12th Street, features many successful businesses already. If you’re hungry there is Slate Street Cafe, Garcia’s Kitchen, Cocina Azul and the Golden Crown Panaderia among others. Near Golden Crown is the Urban Mountain mixed-use development at 1102 Mountain Road NW, with retail and office spaces. Breweries have flourished too. Arguably the city’s most well-known, Marble Brewery, is headquartered in the corridor at 111 Marble Ave. NW. Late last year, Tractor Brewing Co. began relocating its brewing operations from Los Lunas to a 19,000-square-foot industrial space at 1800 4th St. NW, where it now also operates a popular tap room. There are new living units too. Pavilion Construction recently completed a 68-unit workforce housing project, the Plaza Ciudana Apartments, at 310 Indian School Road NE on the southwest corner of Broadway and I-40. And a unique, new development is just breaking ground this month at 4th Street and Granite Avenue — the Anthea @ The Granite development. Anthea is the creation of Bill and Anna Smith of Construct Southwest. It is a $6 million high-end corporate housing project that will also include Pony Jo’s coffee house and urban market on the ground floor. The Pony Jo’s concept is a collaboration between Matt DiGregory of Range Cafe and Standard Diner and Eric F. Garcia, owner of EFG Creative, also a NoLo business. In fact, it is Bill Smith that was one of, if not the first to begin describing the corridor as NoLo. “We looked at everything going on Downtown and also south of Downtown [at the Rail Yards],” Smith said. “It was clear there was opportunity north of Lomas. It’s got easy access to the freeway and the area has more traction than ever,” he said. There is also considerable work to be done and the warehouse-industrial vacancy rate is high. The highly industrial corridor still has many shuttered businesses and run down and abandoned properties. But at the same time, say Smith, the city and others, there is opportunistic vacant land and a lot of older buildings that could be redeveloped into retail and restaurant uses or perhaps living units. http://www.bizjournals.com/albuquerque/print-edition/2014/07/11/will-nolo-be-albuquerque-s-next-edo.html?s=image_gallery

Augustin Plains Ranch refloats plan to pipe water to ABQ Gary Gerew Assistant Editor- Albuquerque Business First Owners of the Augustin Plains Ranch LLC near Datil are again proposing to build wells and a pipeline that would transfer 54,000 acre-feet of water annually to the Albuquerque and Rio Rancho area. APR says it already has spent about $3 million investigating the possibility of the project and has now submitted an application with the Office of the State Engineer to see if an official hearing process can be established. In 2007, the owners of the ranch, described on its website as a collection of family foundations, submitted a plan to transfer the water. It was turned down in 2012 “because it was vague, over broad, lacked specificity, and the effects of granting it cannot reasonably be evaluated; problems which are contrary to public policy,” according to the Office of the State Engineer. The ranch challenged the denial in court, but the engineer’s decision was upheld. If it is allowed the proceed, the project is estimated to cost $600 million, said Whitney Waite, a spokeswoman for APR. http://forum.skyscraperpage.com/showthread.php?t=199166&page=14

Maestas duo navigated complexities of First Baptist Church sale Damon Scott Reporter- Albuquerque Business First After countless meetings, a slew of stakeholders and a more than $6 million deal, Keith Meyer and Jim Wible can take a step back. The veteran commercial real estate brokers with NAI Maestas & Ward have been the agents representing the First Baptist Church during negotiations, and finally the sale last week of the property. The former church sits on seven acres at the northwest corner of Broadway Boulevard and Central Avenue. It is to be the site for the UNM-city Innovate ABQ business incubator development. Meyer and Wible said the path to a closed sale involved a great deal of complexity, but at the end of the day everyone wanted to get it done so city jobs could be created. “It’s never over ‘til it’s over,” said Meyer. “There were other business incubator clients that were interested and had demonstrated capabilities to bring in equity.” http://www.bizjournals.com/albuquerque/news/2014/07/14/maestas-duo-navigated-complexities-of-first.html

Jaynes Corp. to build Downtown grocery store Damon Scott Reporter- Albuquerque Business First Plans are moving forward in earnest on the public-private project that will bring Downtown Albuquerque a 12,000-square-foot grocery store. Shad James, president and COO of Jaynes Cos., said his company was picked to build the grocery store portion of the Imperial Building. It is part of the larger $20 million mixed-use development that will rise at 205 Silver Ave. SW between Second and Third Streets. The project will have 74 apartments and unique green features, including rooftop gardens and urban agriculture. Development of the mixed-income living units are being spearheaded by YES Housing’s vice president of real estate development Michelle Den Bleyker. Krishna A. V. Reddy, vice president of Jaynes’ special projects group, is overseeing the grocery construction. He said design and permitting will take place from June 30 until November 3, when construction is scheduled to be begin. Reddy said the construction phase will take about 15 months. Dekker/Perich/Sabatini is working with Jaynes on the design features. http://www.bizjournals.com/albuquerque/news/2014/07/09/jaynes-corp-to-build-downtown-grocery-store.html?ana=twt

ABQ wants big ideas for small Downtown lot By Dan McKay / Journal Staff Writer The parking lot at First and Central, surrounded by railroad tracks and a bus stop, is easy to miss. But that 1.75-acre chunk of city-owned land could emerge as a “premier entertainment hub” if city planners succeed in attracting redevelopment. Proposed entertainment hub in Downtown AlbuquerqueThe city has given developers until Nov. 7 to propose how they would remake the property into a “21st century” attraction that includes diverse restaurants, retail and entertainment space. As incentive, City Hall could provide the land cheaply and make available about $1.5 million to develop parking, if it’s needed to support the development. The lot lies just across the railroad tracks from the First Baptist Church site, which is where the University of New Mexico and others are planning a business incubator and research headquarters, intended to attract entrepreneurs and students. It’s called Innovate ABQ. Rebecca Velarde, Albuquerque’s redevelopment manager, said the goal is to create something that complements activity at the First Baptist site. “We’re creating a corridor of vitality in this innovation district,” Velarde said in an interview. “We really feel like a mix of uses, an entertainment hub, would serve people at the Innovate ABQ site well, and they could play off of each other well.” Mayor Richard Berry, who announced a request for proposals last month, said the project would be “a great step towards creating naturally occurring ‘collisions’ and a ‘beehive’ of collaboration.” Others agree it’s a key site. The lot is north of Central, between First and the railroad tracks, a key entryway for the Downtown core. http://www.abqjournal.com/426376/news/abq-wants-big-ideas-for-small-lot.html

Film industry spurs Anthea @ The Granite development Damon Scott Reporter- Albuquerque Business First The $6 million Anthea @ The Granite development is breaking ground in about a week on 4th Street and Granite Avenue. It is a unique collaboration and project, which will bring high-end corporate housing to Albuquerque’s Downtown corridor. The project is the vision of Bill and Anna Smith, the owners of Albuquerque’s Construct Southwest. They are working with Matt DiGregory of Range Cafe and Standard Diner fame, and with Eric F. Garcia of EFG Creative, who is doing branding and creative work. The development is scheduled to be completed in March. “We were looking at everything happening Downtown and a lot of the push had been south of Central. We decided to look north,” Bill Smith said. “Anthea is a place that does not exist in Albuquerque.” Smith said he and his wife consulted with the Albuquerque Film Office and others while doing a feasibility study on Anthea. They found that several film-related workers from actors to executives often look for a temporary place to stay and don’t necessarily want to use a hotel or rental home. “There is a huge demand and need. In addition to the film industry, realtors are often looking for a place when doing relocations for clients and there are temporary workers from the labs and UNM that need a three-to-six-month stay,” Smith said. The 23-units at Anthea will be fully-furnished apartments, what Anna Smith described as a “condotel,” a combination of a condo and a hotel. There will be one-, two- and three-bedroom options ranging from 700 to 1,400 square feet. A big piece of the development is the Pony Jo coffee house and urban market, a concept by Garcia and DiGregory. “You can go there to have coffee, wine, beer and eat, but also get some staples and sundries,” Garcia said. “We are reaching out to millennials and want them to feel like this will be something that caters to their needs,” he added, saying that the demographic will have input on cuisine. Bill Smith is a former executive vice president of Reid & Associates. He has overseen many commercial projects, including an expansion at Intel Corp. and the Stolar Research facility in Rio Rancho. http://www.bizjournals.com/albuquerque/print-edition/2014/07/04/film-industry-spurs-anthea-the-granite-development.html?page=all

ABQ BioPark Master Plan getting feedback By Gabrielle Burkhart KRQE News 13 ALBUQUERQUE, N.M. (KRQE) - Easier access, better exhibits and more animals; it’s all part of the big plan to revamp the Albuquerque BioPark. Monday was the last day for the public to meet face-to-face with the planners and offer feedback. Admission for the zoo was free Monday and people were encouraged to give their opinions on the master plan. The zoo was jam-packed and officials hope some of the changes will better accommodate overflow crowds. “So far we have about 5,000 people through the gates for the free day,” said Rick Janser, ABQ BioPark Director, around 11 a.m. Monday. Many people stopped at the zoo’s entrance for a final meeting, to check out and give feedback on the master plan to revamp the area. “We’ll take everything we get today and kind of look at all them or see if there’s anything we need to tweak in the plan,” Janser explained. The master plan includes a new single story parking structure at the zoo, and much more parking at the Botanic Gardens and Tingley Beach. Monday’s overflow into residential streets goes to show, more parking is needed. “That will make all our neighbors happy I’m sure,” said Janser. A new shuttle system may also take the place of the train, to transport people quicker from the zoo to the Botanic Gardens, Aquarium and Tingley Beach. “There’ll be four or five, six shuttles that can carry a lot of people, so it’s moving back and forth,” said Janser. “Instead of people having to wait for the train for a half hour, this is a 10-15 minute wait.” http://krqe.com/2014/06/30/abq-biopark-master-plan-getting-feedback/ http://www.cabq.gov/culturalservices/biopark/documents/ABQBioPark_PUBLIC_June2014.pdf

North 4th Street site picked for development Damon Scott Reporter- Albuquerque Business First The city of Albuquerque and Bernalillo County are joining funding forces to develop a 4.3-acre site at 3525 Fourth Street NW, near Candelaria Road. The property would be a mix of workforce housing and commercial development. County Commissioner Debbie O’Malley told Business First that a plan to acquire the site has been in work for a few years and is now coming to fruition. “It’s something we’ve had our eyes on for awhile. It is a true redevelopment project and will be a catalyst project for the area that should lend itself to some creative ideas,” O’Malley said. O’Malley said one idea that has been raised is the promotion of local agriculture, in the form of farmers’ markets, or some kind of retail or distribution center that isn’t represented in the North Valley. She said nothing has been decided, however, and that there are a lot of possibilities. O’Malley said the funding mix will include $200,000 from the county and $1.2 million from the city’s Workforce Housing Trust Funds. She said city and county officials are in initial stages of devising a request for proposals. http://www.bizjournals.com/albuquerque/blog/morning-edition/2014/07/north-4th-street-site-picked-for-development.html?ana=e_abq_rdup&s=newsletter&ed=2014-07-01&u=QWbVgCvipWuhWtd1eDprQQ08961b90&t=1404224051