SANTA FE, N.M. — Construction will soon begin on a project that will bring nearly 200 new apartments to housing-challenged Santa Fe.
The $34 million Broadstone Rodeo, a 188-unit luxury apartment project, is described as the first Class A multifamily project to be built in the City Different in 20 years.
Rodeo is a joint venture of Albuquerque’s Titan Development and Phoenix-based Alliance Residential.
The companies broke ground on the project, their sixth together, last Wednesday.
The apartments will be built on about eight acres east of the Santa Fe Rail Trail, with units available in fall 2019, company officials say.
“There is tremendous demand for high-quality multifamily in Santa Fe,” Titan President Drew Dolan said in a prepared statement.
The community will have gated entrances, a lounge, entertainment room, patios, covered parking and a resort-style pool and fitness center. The project features a variety of one-, two- and three-bedroom units.
Broadstone Rodeo isn’t the only new Class A apartment complex coming out of the ground. Titan and Alliance are co-developers of Broadstone Northpoint in the north Interstate 25 district of Northeast Albuquerque. The 226-unit project has transformed a long-vacant 10-acre site.
Mutual’s headquarters has rooms with views
When New Mexico Mutual broke ground on its new headquarters in October 2016, the company’s leadership had several goals: to build a facility that not only would accommodate its growing book of business, but to also foster sustainability and promote employee health and well-being.
“We overbuilt the building by 25 percent, knowing we’re going to grow into it over time,” Norm Becker, New Mexico Mutual’s CEO and president, said during a recent tour of the newly opened $20 million facility.
Located next to Balloon Fiesta Park, the new headquarters consolidates the operations of New Mexico Mutual with those of Integrion Group, its wholly owned claims-adjusting subsidiary. Previously, the two companies operated out of separate, leased buildings.
“It was time to have our own home office,” Becker said, clearly proud of the company’s new digs.
“We owned the land for about 12 years and a had a couple of false starts (building a new home office), thanks to the recession,” he added.
Helmed by general contractor Bradbury Stamm, the 58,000-square-foot headquarters not only emphasizes contemporary trends but also elevates the work environment for the company’s 160 employees. “The workplace is designed to foster collaboration,” he said of the open concept, which features several jaw-dropping views.
The light-filled workplace has few doors and many places to meet. Because employees don’t have to be deskbound during the entire shift, there are indoor and outdoor spaces throughout the building where claims adjusters, analysts, underwriters and medical reviewers can easily plug in their laptop computers for short-term tasks.
“Obviously, there is no prohibition from working off the decks,” Becker said of a company that also promotes employee health. To wit: An onsite fitness center and a walking trail that loops one-third of a mile through landscaped grounds help on the recruitment and retention end, Becker said.
Steve Sinovic is the Journal’s commercial real estate and construction reporter. He can be reached at email@example.com or by calling 505-823-3919.