Allaso Vineyards Property Breaks Ground in NE Albuquerque

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The groundbreaking of a multifamily property named Allaso Vineyards took place recently in North East Albuquerque. Titan Development, a real estate development firm intends to build this 123,000 sqft multifamily community to immortalize the historic past of New Mexico, showcasing it as the oldest wine region in the U.S.

The development site of the Allaso Vineyards is situated within the Northeast Heights region, at the corner of Northeast Holly Avenue and Northeast Ventura Street in Albuquerque.

According to Titan, this new multifamily community will be the company’s third luxury apartment development under its Allaso brand in Albuquerque. The other two Allaso properties in Albuquerque, besides Allaso Vineyards, include Allaso Journal Center built in honor of the Albuquerque Journal and the Allaso High Desert, which was designed based on the Sandia Mountains. 

Construction of the Allaso Vineyards is expected to be completed in 14 months.

Features of the Allaso Vineyards

Titan’s new Allaso Vineyards community will comprise two 3-story residential buildings and two 1-story garage buildings, all of which will be built using wood frames. The residential buildings will consist of 111 apartment units that will offer residents the options of one-bedroom, two-bedroom, and studio units. Each apartment unit will be furnished with quartz countertops, stainless steel appliances, and 42-inch cabinets.

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Other shared amenities featured on Allaso Vineyards property include elevators, rooftop decks, a resort-style swimming pool and spa, fire pits, professionally-styled grilling areas, game lawns, a fountain, ramadas, and Crossfit gyms inspired indoor/outdoor fitness area.

Residents will also be allowed access to the grapevines onsite and a winery-inspired lounge, which can be reserved by residents for wine tastings and other private occasions. The wine lounge also features wine lockers available for rent and personal storage. In addition, a bottle of wine with a private label is offered to each resident once they move into the property.

Funding for the project

Funding for the Allaso Vineyards project comes from the Titan Development Real Estate Fund II (TDREF II), which began in November 2020 and raised about US$ 95M. The TDREF II was aimed at multifamily and industrial projects, and Titan has committed up to 86% of this entire fund equity to a dozen projects.