RIO RANCHO – Land preparation for the new Las Residencias subdivision in the heart of Rio Rancho is right on track to wrap up by Halloween.
“We’re just kind of in the final closeout of that subdivision,” said CK Scott, the director of development for Gamma Development LLC.
According to the preliminary plan filed with the City of Rio Rancho, Las Residencias was set to feature 39 lots. However, Scott said the project added a 40th lot after getting rid of a drainage facility.
“It freed up space for an additional lot,” Scott said, adding that Gamma Development’s also finishing up dry utilities for the subdivision.
Las Residencias, a nine-month project for Gamma Development preparing for home construction, will be on Sundt Road, just west of NM 528.
Scott said it will feature one- and two-story single-family homes.
Amid the current housing shortage, he also said the subdivision will provide more people coming into the City of Vision with housing in the center of town.
“There’s been several very successful developments in the surrounding area with Loma Colorado, Salcido (and) Milagro Mesa. That shows that there’s great demand for that area,” Scott said. “It’s close to great schools; it’s close to grocery stores and many amenities that the folks in Rio Rancho love. So, we felt it was a great parcel of land that was ripe for infill development.”
Come Halloween, Scott said the project will transition to the home-building phase, with Albuquerque-based Abrazo Homes taking charge.
He also said construction of the homes is expected to be completed within the next 24-30 months.