Developers to Start $13.6M Affordable Project Near Albuquerque Downtown
- Oct 31, 2012
Greater Albuquerque Housing Partnership plans to break ground on a 68-unit affordable housing apartment development located at the gateway to Albuquerque’s Downtown in January 2013.
The $13.6 million project, dubbed Plaza Ciudana, is the first phase of a master-planned community planned to include between 250 and 300 units of affordable and market-rate housing, according to the New Mexico Business Weekly. The project, designed to revitalize the neighborhood, will include 15,000 square feet of commercial space along Broadway.
To finance the entire project, which is expected to cost circa $60 million, the developer will need financial support from the city, said Louis Kolker, executive director of the Greater Albuquerque Housing Partnership, as quoted by the New Mexico Business Weekly.
The project will be built to achieve a rating of LEED Gold or higher. Its design is guided by new urbanism and traditional neighborhood design principles with all of the units facing the street, and all on-site parking for the development located in the rear of the buildings. Pavilion Construction will serve as builder for the Plaza Ciudana development, while The Hartman + Majewski Design Group will be the architect of the project.
Given the area’s industrial nature, the multifamily project has many opponents who fear that the project will not only create an unsafe environment for renters, but it will also lower property values. According to the Albuquerque Journal, dozens of entrepreneurs have formed a coalition that opposes city proposals to “down-zone” commercial and industrial activities in the area.
In other interesting news, Chamisa Village Phase II, a 127,000-square-foot residential complex on the campus of New Mexico State University, was certified Leadership in Energy and Environmental Design (LEED) Gold according to Steinberg Architects.
Photo courtesy of Greater Albuquerque Housing Partnership
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