ALBUQUERQUE, N.M. — An Albuquerque developer is planning a summer ground breaking for an upscale apartment complex near Cottonwood Mall, just south of Rio Rancho.
Titan Development and project partner Phoenix-based Alliance Residential Co. plan to build a 254-unit multifamily housing complex on a 13-acre site just west of N.M. 528. The site is in West Side Albuquerque on the hill opposite the Perfection Honda dealership.
Titan President Drew Dolan said the Broadstone Cottonwood development will be similar in design, size and amenities to the Broadstone Santa Monica project that Titan and Alliance began building in mid-2012, just northeast of San Antonio and San Pedro in the Northeast Heights.
That project features a mix of one-bedroom, two-bedroom and three-bedroom apartments, with an average size of around 1,100 square feet.
Dolan believes the opening in 2011 of the Presbyterian Rust Medical Center in nearby Rio Rancho has generated demand for a high-quality, multifamily facility with amenities like a resort-style pool, fitness center and security gates.
The hospital is located at Unser and Black Arroyo, about three miles northwest of Broadstone Cottonwood.
“Nurses, technicians, resident doctors want a Class A-type facility,” Dolan said.
He said Titan has owned the Broadstone Cottonwood site for about three years.
The design will make use of the hillside location to maximize the views from the apartments.
“A lot of the east-facing units will have some of the best views in the city,” Dolan said. “They’ll just look over the entire bosque, the entire Sandia Mountain range. It will be really phenomenal from a view standpoint.”
Broadstone Cottonwood is slated to be complete in December 2014. Dolan declined to give the project’s cost.
A couple of other large developments are under way near Rust Medical Center.
Albuquerque-based Peterson Properties began work last month on an 11,584-square-foot shopping center just southeast of McMahon and Unser about a mile south of the hospital. And construction is nearly complete on the 131-unit Rio Grande Gracious Retirement Living facility on Westside Boulevard just east of the hospital.