ALBUQUERQUE, N.M. — City councilors, county commissioners, the mayor, other community leaders and economic development officials cheered the start of construction Tuesday for what developers are calling a “transformative” multi-use project for the West Side.
The $26 million, 6-acre Nuevo Atrisco public-private partnership development on the northwest corner of Central and Unser will feature more than 30,000 square feet of office, restaurant and retail space, an 86-unit apartment complex and a 20,000 square foot plaza and community event epicenter, officials said in a news release.
City Councilor Ken Sanchez has said the development, which had been planned for more than a decade but put on hold due to the recession, should become a major area activity center once completed.
Albuquerque Mayor Tim Keller has called the development an investment in “affordable housing” but also “about businesses.”
The 80-unit apartment complex is targeted to families and also will feature eight living/working units along Unser, common space, a social service provider office, laundry and elevators, according to project partner Yes Housing Inc. Units are aimed at people with incomes at or below 30% area median income
Also attending the ground breaking Tuesday were representatives from the New Mexico Mortgage Finance Authority, Wells Fargo, Yes Housing, Inc. and Maestas Development Group.
Project completion is expected in 2021.