Planned stadium development could double in size - Albuquerque Journal

Planned stadium development could double in size

Forget the previously released renderings of University of New Mexico’s new sports entertainment district — it turns out the project is about to double in size.

The group selected by UNM to build the sports entertainment district in part of the parking lot adjacent to the stadium recently completed a study that indicated their original plan was too small. Previously conceived as a 25,000-square-foot project with four to five tenants, the consultant recommended something closer to between 50,000 and 55,000 square feet with space for an estimated 10 tenants and a larger plaza, said Paul Silverman of 54 Development LLC, the team spearheading the project.

The size increase will help ensure the development’s viability, creating a larger magnet to attract people on the days and nights without Lobos or Isotopes games, Silverman said. He called it achieving the necessary “retail gravity.”

“The risk in this deal was really under-building it — building something that just didn’t have enough gravity to get us where we needed to be,” he said.

The present estimated price tag for the project is $25 million, which the developer covers. The group is leasing the land from UNM in an agreement approved by the Board of Regents in December.

Tom Neale, UNM’s director of real estate, said the deal was structured to account for possible adjustments in the project’s scope and called 54 Development’s intention to super-size welcome news. While the developer had originally planned to use one acre, Neale said the university’s original request for proposals had offered up two acres.

“We’re really excited they’re coming back with a much larger project,” Neale said. “We think it furthers our goals of establishing this district.”

He added that the new site plan must still get approved by Lobo Development and the regents.

Silverman said the development group, which also includes Steve Chavez of WisePies Pizza & Salad, will start reworking the design this week with Dekker Perich Sabatini. The new plan will also account for a storm drain along Avenida Cesar Chavez that the team discovered while further inspecting the site.

He expects to have the new plan by summer. The project could be open as early as fall of 2017.

The development will still include a Brian Urlacher sports bar and a WisePies. Chavez recently told the Journal that the tenant mix could also include the likes of a New Mexican food restaurant, a barbecue joint, sandwich shop, gelato shop and coffee shop.

Though the new plan is not yet set, the 2 acres UNM has made available for this project now contain  about 220 of the parking lot’s 860 total existing spaces. But Neale noted that the school has 10 acres of undeveloped land south of WisePies Arena — the Pit — to help offset any parking losses.

Home » Business » Most Recent Biz News » Planned stadium development could double in size


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

1
Where's the International Folk Art Market moving to? Find ...
ABQnews Seeker
Officials released that the long-standing summer ... Officials released that the long-standing summer market will move from Museum Hill to the Santa Fe Railyard Park in 2023.
2
NMSU to hire outside firm to probe shooting involving ...
ABQnews Seeker
New Mexico State University said Tuesday ... New Mexico State University said Tuesday the school would hire an external, third-party investigator to review the fatal shooting involving an NMSU basketball player ...
3
NM adds anxiety disorder as medical cannabis qualifying condition
ABQnews Seeker
New Mexico will add anxiety disorder ... New Mexico will add anxiety disorder as a qualifying condition to participate in its medical cannabis program, after the state's top health official approved ...
4
Services announced for Los Ranchos judge Diane Albert
ABQnews Seeker
Services for Diane Albert, 65, late ... Services for Diane Albert, 65, late municipal judge for the Village of Los Ranchos de Albuquerque, will be at 6 p.m. Tuesday, Dec. 6, ...
5
Missing girl found; man charged with assaulting officer while ...
ABQnews Seeker
A man allegedly lost his temper ... A man allegedly lost his temper and nearly attacked an officer Monday night as Albuquerque police searched the city for his missing five-year-old. The ...
6
Albuquerque City Council approves commission to focus on domestic ...
ABQnews Seeker
In an effort to improve interventions, ... In an effort to improve interventions, services and public understanding, Albuquerque is launching the Commission on Domestic Violence and Sexual Assault. The city council ...
7
Volunteers needed for vital CASA program
ABQnews Seeker
Goal is 'to have 100% case ... Goal is 'to have 100% case coverage,' says executive director of CASA Partners 4NMKids
8
City council says yes to noise cameras
ABQnews Seeker
and listening — too. The city ... and listening — too. The city council on Monday approved a pilot program aimed at detecting loud vehicles through the use of special cameras. ...
9
Local nonprofit Locker#505 helps 116 Albuquerque students shop for ...
ABQnews Seeker
Nonprofit Locker505 provides clothing for more ... Nonprofit Locker505 provides clothing for more than 12,000 students through community donations