ALBUQUERQUE, N.M. — The long-awaited transformation of 12 blighted acres north of Central Avenue near Presbyterian Hospital will begin this summer.
Ground-breaking on two of a half dozen proposed phases of The Highlands development — a highly amenitized 92-unit apartment building and a hotel — is slated for August.
After a challenging year of sorting out grading and utility issues, tearing down derelict housing and coordinating with the ART project, construction crews are ready to roll on the $95 million mixed-used community.
That’s according to Kurt Browning, chief development officer of Titan Development, who provided an overview of the project Wednesday at a luncheon hosted by Commercial Real Estate Women of New Mexico.
“These will be the first two out of the block,” said Browning, describing a four-story, 92-unit apartment building called The Broadstone Highlands and a Marriott Springhill Suites Hotel. Browning said a Ronald McDonald House also will lease rooms on the third floor of the hotel. The Ronald McDonald House that’s close to Albuquerque-area hospitals allows families to access specialized medical treatment by providing a place to stay at little or sometimes no cost.
“The whole idea is to create a (future) neighborhood on the order of Nob Hill and EDo,” east of Downtown, said Browning, adding that Maestas Development Group and Presbyterian are partners in the enterprise, which also includes builder Alliance Residential.
On the drawing board is a second Broadstone apartment community with 228 units. In the conceptual stages are a food hall called Highland Central Market, other retail tenants and construction of a skybridge linking The Highlands development to Presbyterian.
The build-out is estimated to be completed in the next five years.
Browning said 1,150 construction jobs and 425 permanent jobs will be created for the five-block development.