Plans are underway for the development of The Downtowner Project in Albuquerque; a six-story residential project, which has been recommended by the Albuquerque Development Commission. This project is aimed at increasing the available housing stock in Albuquerque.
The southwest corner of First Street and Silver is the city’s target for The Downtowner Project in Albuquerque and it entails a six-story, mixed-use building, shaped with a capital letter E design. This development will consist of 191 apartments units, nine live/work units, retail space, additional space for hosting events, two courtyards above street level, 60 parking spots and 200 bicycle spaces, which will provide additional transit options and cater to a larger target market.
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The development of The Downtowner will be executed through a partnership between the Metropolitan Redevelopment Agency (MRA) and REMBE Urban Design and Development. Construction costs for the project are estimated at $21.3 million, while the budget for the project is set at $30.1 million.
The Downtowner Project is to be owned and managed by REMBE Urban Design and Development, as this local firm was the only respondent to the request for proposals(RFP) which was sent out by MRA in July 2020. The RFP at the time, was seeking proposals for the redevelopment of the city’s 0.8 acre site into a high-density residential or mixed-use project.
Karen Iverson, the MRA manager, explained the benefits of this downtown revitalization project. Iverson said, “It increases housing density, adds market-rate units to the residential mix, encourages economic development, and creates new spaces for activities and events.”
Mayor Tim Keller also spoke highly of The Downtowner Project in Albuquerque and described it as a housing project designed to meet the needs of the city’s local workforce and he pointed out that it was a tried and tested approach that would attract more businesses and their employees to the downtown area.
Keller also said, “The Downtowner isn’t just adding 191 units of great housing downtown, it’s creating new spaces and foot traffic for businesses, and will contribute to public safety as we bring more activity to the area.”
