Titan Development is pumping life into a long-dead and once undevelopable piece of land at the base of the Sandia Mountains foothills with a $67 million multi-family community.
Expected to open in phases starting in the second quarter of 2022, Allaso High Desert will be geared toward young professionals and new families and carry an “outdoorsy” feel.
Allaso will target “people who enjoy the mountains, the skiing, the hiking, mountain biking,” said Kurt Browning, Titan Development partner. “We will maintain access to the Sandia Mountains.”
Indeed, the 16-acre site off of Tramway NE and San Antonio NE in the Northeast Heights will link to the Foothills trail system, which connects to hundreds of miles of trails spanning the Sandias.
Altogether, the project will consist of 281 units, with 204 “flat” style apartments accessed by outdoor stairs and 77 townhome-style units. Prices, depending on the number of bedrooms and size, are expected to start at around $1,500 a month and run to $2,000 or more.
“We have one bedroom, two bedrooms, three bedrooms so the rent will vary – on the higher end as far as market rate apartments,” Browning said.
It’s amenity rich, with a resort-style pool and spa, outdoor kitchen, game lawns, fire pits, shaded areas, ramadas, an outdoor fitness area and putting green.
The list also includes a fitness center with spin studio and an indoor driving range, but the star is Adventure Room, where residents will be able to borrow outdoor equipment – including mountain bikes, camping equipment, snowshoes, and other gear – without charge.
“We pride ourselves on amenities,” Browning said.
Preparing the site didn’t come easy. There were power lines to relocate and a floodplain to deal with, Browning said.
“It was daunting,” he said. “Everybody knew about the property. It took a good year’s efforts before we actually closed on the land and put the shovels in the ground.”
Titan worked with Albuquerque Metropolitan Arroyo Flood Control Authority and entered into a turn-key agreement for acceptance of the heavy drainage infrastructure in fall 2020, including $2.5 million of drainage infrastructure with channel work, to convey Pino Arroyo flows across the property.
COVID-19 also hampered development, causing supply chain and construction labor problems, Browning said.
Titan, a real estate development and investment firm, is headquartered in Albuquerque. Partnering on Allaso is Fort Worth-based Olympus Property. Pavilion Construction is the general contractor.
The development is expected to create 350 construction jobs.
Other Titan projects in Albuquerque include Allaso Journal Center, Highlands East, Highlands North, Broadstone Nob Hill, Broadstone North Point, Broadstone Promenade, Broadstone Cottonwood and Broadstone Santa Monica.
“This will help with some of the housing supply shortage,” Browning said.
Titan, he added, is eyeing other Albuquerque sites for projects.
“We have two, perhaps three,” he said. “This is our home and we like working in our own backyard.”