Earthmoving began last week for what’s ultimately planned to be a 182-lot subdivision east of Unser Boulevard between Paseo del Volcan and Northern Boulevard, one of the first sizable new housing developments seen in Rio Rancho since the economy began its nosedive about six years ago.
Construction equipment at the site — located just west of the 65-home Mirador del Sol subdivision — is clearing about 11 acres for the 51-lot first phase of the Solcito subdivision. The total project area is about 34 acres, said Bill Allen, development partner for the project.
“We talk quite a bit with other developers in the market,” Allen said. “We’re kind of at the point where a lot of the existing subdivisions have started to fill out, and the increase in permits in the greater (Albuquerque) area as well as Rio Rancho are now at a point where we think it’s time to break ground on a new subdivision.”
He added, “Obviously, Loma Colorado has been developing phase by phase the last three, four or five years, but other than that project, there really hasn’t been a lot in Rio Rancho.”
Allen and Mike Adams are the managing partners in BM2 LLC, the group developing the Solcito project. Allen and Adams also developed Mirador del Sol.
The group has talked with several homebuilders for the Solcito subdivisions, but, he said, “We don’t have anything that’s finalized yet.”
Allen estimated the homes would be in the upper $100,000 to lower $200,000 price range and expects construction on the structures will begin in five or six months.
Access to the first-phase development will be at Edinburg Street (formerly 26th Street) off Northern. The development will feature a perimeter wall, similar to the one enclosing Mirador del Sol.
“We have land adjacent to it that is not owned by us,” Allen said. “Some of the land, not much of it, has commercial zoning, so we really don’t know how some of the adjacent land will be developed.”
Among the planned subdivision features is a north-south trail in the middle of the project, with a park feature at the north end, Allen said.
“It will be kind of a linear park, I’d guess you’d call it,” he said.
Allen said he and Adams also are partnering with WestPac for the 135-home Melon Ridge subdivision, just west of the Solcito project.
“We don’t really have a timeframe (for Melon Ridge),” he said. “We’ve got a lot of engineering plans completed for it, so it’s ready to move when we want to.”