The State Land Office has a deal for you - Albuquerque Journal

The State Land Office has a deal for you

SANTA FE — The State Land Office is offering a 50-acre parcel for sale for residential development in Rio Rancho.

The property, located within the Paseo Gateway master-planned community east of Unser Boulevard and next to Sue Cleveland High School, is being offered for a minimum bid of $2.51 million, according to a news release from the Land Office. Bids for less than the entire tract or that propose a property exchange will not be considered, the office said.

“State Trust Lands often lie in the path of development and have new potential for residential, commercial, and industrial development,” State Land Commissioner Aubrey Dunn said in a prepared statement.  “In Rio Rancho, City Center lands, Paseo Gateway, and Loma Barbon are ripe for development that will enhance the city’s quality of life and generate revenue for education.”

Previous state trust lands sold, leased or exchanged in Rio Rancho include properties that are now home to City Hall, the Santa Ana Star Center, Hewlett-Packard, UNM West, CNM Rio Rancho, UNM Sandoval Regional Medical Center and a number of residential neighborhoods, according to the news release.

The land now for sale is currently under a planning and development lease to Paseo Gateway, LLC, which has installed some infrastructure. Under that lease, which will be relinquished at the closing of the sale, according to the Land Office, Paseo Gateway will be obligated to complete sewer and water infrastructure and roadways.

Bids are due on Nov. 6.

Proceeds from the sale of  trust lands flow into the Land Grant Permanent Fund, a percentage of which is distributed to public schools, universities, hospitals and other beneficiaries.

Home » Business » Most Recent Biz News » The State Land Office has a deal for you


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

1
ABQ homicide detectives investigating fatal shooting
ABQnews Seeker
Albuquerque police are investigating after a ... Albuquerque police are investigating after a maintenance worker was killed Sunday night while doing a random check on vacant apartments in the complex where ...
2
Take your employer up on health care FSA offers
ABQnews Seeker
There is a mythology of aging ... There is a mythology of aging baby boomers complaining about their ailments. As a 'young-older' guy fortunate to have no known physical issues, I ...
3
New Mexico slips to 50th in child well-being
ABQnews Seeker
New Mexico's ranking in overall child ... New Mexico's ranking in overall child well-being slipped from 49th to 50th, according ...
4
MLK offramp gone; MVD out of envelopes
ABQnews Seeker
Northbound I-25 MLK exit permanently closed ... Northbound I-25 MLK exit permanently closed starting Monday
5
APD seeking silver sedan in connection with murders of ...
ABQnews Seeker
Police said the vehicle officers are ... Police said the vehicle officers are looking for is a dark gray or silver, four-door Volkswagen, perhaps a Jetta or a Passat, with tinted ...
6
New Batteries Plus opens in Los Lunas
ABQnews Seeker
A new Batteries Plus opened in ... A new Batteries Plus opened in Los Lunas on Saturday. This is the national chain's sixth location in the state. The franchise is owned ...
7
Shooting at an apartment complex in NE Albuquerque leaves ...
ABQnews Seeker
Albuquerque police say a man was ... Albuquerque police say a man was shot to death at an apartment complex in the 500 block of Tramway NE early Sunday morning. Officers ...
8
Four suspected in fatal shooting of Cruces woman
ABQnews Seeker
Alexis Baca, 25, was found dead ... Alexis Baca, 25, was found dead in mountains outside Boulder, Colo., last month
9
APS to tap community on parents rights policy
ABQnews Seeker
School board lays out timeline for ... School board lays out timeline for for final vote in November