ALBUQUERQUE, N.M. — Mixed-use properties are becoming the go-to opportunity for many developers and investors in and around Downtown Albuquerque.
Many Albuquerque developers either have mixed-use projects that are opening soon, rising on construction sites or teeing up.
Help from public entities
Many of the recent and future mixed-use projects are centered on or near the Central and Lomas corridors, and several would probably not have gotten off the ground without some help from city, county and other public entities.
One Central, which is coming to life at First and Central. The city kicked in $17 million – most of it coming from lodgers’ taxes – plus land valued at $1.4 million, accounting for just under $19 million of the $35 million mixed-use project. Bernalillo County also approved an industrial revenue bond package that includes property and gross receipts tax breaks.