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Peterson developing Downtown Lomas lot

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Peterson Properties is planning an approximately 5,000-square-foot development at the southwest corner of Lomas and 6th Street for retail, restaurant and/or service users. Courtesy of Peterson Properties

ALBUQUERQUE, N.M. — One of Albuquerque Rapid Transit’s staunchest critics says the project prompted him to pursue a new development a few blocks away from the route.

Doug Peterson of Peterson Properties is in the planning stages for a new 4,882-square-foot retail/restaurant building at the southwest corner of Lomas and 6th Street, a vacant parcel he said he bought last year as a “bit of a hedge” against ART.

“I believe that that project will push traffic away from Central and onto Lomas, among other streets,” Peterson, who has been among the more vocal opponents of the plan to establish a 9-mile express bus system mostly along Central Avenue. He has argued that a dedicated bus lane down the middle of the street will prohibit drivers from making left-hand turns into some properties.

Peterson said he’s still working on financing for the project so the construction timeline remains unknown. But Peterson Properties’ Brecken Mallette already has begun marketing the project, which could accommodate as many as four businesses.

The goal is to sign the likes of retail, restaurant and service tenants, Peterson said, noting that the design will include space for 22 on-site parking spaces. That’s another reason the land appealed to him.

“My family has a lot of Downtown buildings, but none that offer surface parking in front of the building,” Peterson said. “This project … would be able to offer that.

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