Eloise Gift Blogs about Albuquerque, New Mexico

Albuquerque, New Mexico

Blogging about Life in New Mexico - the Land of Enchantment - describing real estate resources in the greater Albuquerque area

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Albuquerque, New Mexico Real Estate Market Trends

May. 26, 2008

Categorized in: Market Report

Tagged with: albuquerque, market trend, new mexico, real estate

How recent changes in lending practices are affecting the real estate market in the Greater Albuquerque area

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ABQ Uptown Mall

Dec. 10, 2006

Categorized in: Real Estate Attractions

Tagged with: albuquerque, infill, land, mall, new mexico, real estate development, retail, shopping

Albuquerque, New Mexico Real Estate

New Mexico's Newest Mall

shoppers' delight

Last month I attended four new business openings at ABQ Uptown, including the ribbon cutting for the grand opening of the mall itself.

Albuquerque’s newest mall is unlike any other in the city. High-end retail shops are grouped along pedestrian-friendly streets bordered by wide sidewalks in an open-air configuration very suitable to Albuquerque’s all-year-round, sunny climate.

Gary Sapp, executive vice president of the Hunt Development Group conceived of the main-street shopping concept, and planned and completed it as an infill project between two older, traditional, covered malls anchored by department stores.

Sedberry & Associates, the leasing agent for the group, found 48 willing and able tenants who now occupy the space. Forty-three percent of these tenants are new to New Mexico, suggesting a substantial impact on retail growth for Albuquerque.

A few weeks after the opening of ABQ Uptown, I heard Gary Sapp speak at the December 7, monthly meeting of the Greater Albuquerque Chamber of Commerce http://www.AbQChamber.com. Mr. Sapp spoke of the decade-long development project, of his vision, his search for the right property, and negotiations and collaboration with the city to realize the dream.

The ABQ Uptown project has brought a measure of excitement, freshness, and revitalization to the city, as well as convenience to shoppers. As infill, it is an inspiration to addressing urban sprawl. As land in the northeast quadrant of the city becomes scarcer and more expensive, such projects will have more relevance and greater impact on the continuing development and vibrancy of the city.

Sources: http://newmexico.bizjournals.com

http://abqjournal.com

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http://www.EloiseGift.com

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Albuquerque Westward Expansion Facilitated

Dec. 2, 2006

Categorized in: Real Estate Attractions

Tagged with: albuquerque, atrisco, development, landgrant, new mexico, realestate, westland

Albuquerque, New Mexico Real Estate

End of Era—400-year-old New Mexico land grant sold to California developer

History was made in Albuquerque in November when shareholders finally voted to approve the sale of one of the oldest existing land grants in the United States.

The Atrisco land grant is almost 400 years old. Granted during the Spanish colonial period, it survived revolts, false claims, and the ceding of Mexico to the United States. It was honored by the 1848 Treaty of Guadalupe Hidalgo.

Upt o less than a month ago, the Atrisco land grant was one of the oldest continuous existing land grants in the United States and one of the few Spanish Colonial grants made that remained continuously in the hands of the heirs of the original settlers.

Understandably, months of heated debates, preceded the shareholders majority vote to allow Westland Corporation (into which the Atrisco land grant was incorporated) to sell some 57,000 acres to SunCal Company of California.

Many shareholders found it difficult to part with something that had been in the family for so many of years. Views were mixed. Some shareholders did not want the land sold to outsiders, while others thought it was time to get more out of the land than their grandparents did.

The greatest beneficiary of the transaction may be the city of Albuquerque that is fast running out of land for expansion. With Native American lands and mountains to the north and east, and the airport and air force base to the south, the availability of the Atrisco land grant in the west may be a welcome relief for expansion and development.

For more information on the timeline of the acquisition of the Atrisco land grant (Westland Corpoeration) by SunCal, viist the New Mexico Business Weekly, http://www.newmexico.bizjournals.com and http://www.abqjournal.com the Albuquerque Journal, online.

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