Out-of-state investment firm to build on spec in RR

This rendering is an overview of the plans TDA Inc. has for expanding and revitalizing the Plaza at Enchanted Hills. Amy Goldfarb, asset manager for TDA, said construction should be underway soon on a new 12,000-square-foot building that will be open for up to three businesses.
(Courtesy of TDA)

RIO RANCHO, N.M. — A new 12,000-square-foot building, plaza and entryway will soon be a part of the Plaza at Enchanted Hills, according to Amy Goldfarb, asset manager for TDA Inc.

TDA Inc. is the real-estate loan and investment company that took over the plaza when it went into foreclosure in March 2018.

Since then, Goldfarb said she and her partners have been brainstorming ideas on how to revitalize and get more foot traffic into the area.

“We could’ve sold this property back in March of last year, but we felt we could hold on to it and get more value out of it,” she said.

Now, TDA has plans to build what Goldfarb referred to as “Building M” on the northeast side of the 15-plus-acre lot.

“We are building this on spec, and the building can be divided into two spaces, three spaces or it can be one,” she said.

Along with the building, Goldfarb said TDA is also funding a plaza where shoppers can enjoy an outdoor experience, as well as a new entryway into the shopping center on the north side.

“The idea behind redoing the entryway is because of the way it is now: You immediately drive into a curb,” she said.

“After you enter, you are forced to go one way or the other, which basically puts you behind the PetSmart or the building we are starting construction on. This leaves everyone with no sense of entry or arrival for what you are coming into.”

Goldfarb said there are plans for a dog park, which also includes water features and shade for shoppers, near the PetSmart on the east side of the building.

The main focus of this $2 million expansion is Building M, she said.

“We are really looking at finding a local restaurant to fill part, if not all, of this space,” Goldfarb said. “Rio Rancho is really lacking in sit-down family-friendly restaurants.”

Goldfarb said the scenario many shoppers experience at the plaza now lacks a place to sit down and eat or even grab a coffee.

“So we are trying to round out that scenario for the local shoppers,” she said.

Goldfarb said Jaynes Construction will head up the construction since it built the shopping structure in the first place and employees are familiar with the area.

Goldfarb said the site could have shovels in the ground as early as this week for the project, which already has the necessary permits.

“Our plan is to continue to build out in the future, maybe not all on spec, but to really use this area to its full potential,” she said.

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