New Grocery Store for Downtown
January 17, 2013
Albuquerque- At a meeting this afternoon the Albuquerque Development Commission [ADC] selected a local developer, Geltmore, to build and operate the 6,000 square foot grocery store for downtown. The vision of the developer includes portions of the grocery store focused on baked goods, cheeses, dried-goods, produce, prepared foods, a deli, and meats that will cater to the immediate area; making this store a destination for all of Albuquerque.
In addition to the highly-anticipated market, the building will also be home to 61 brand new residential units. Total, the four story building will be about 64,000 square feet, located at 205 Silver SE. Retail space will also be available for other businesses like a bank, pharmacy, and/or a restaurant.
'We hope this grocery store is a catalyst for the revitalization of our cherished downtown," said Mayor Richard J. Berry. "Grocery stores are a critical component for great communities, and we have worked long and hard to partner with private developers to make this project a reality for our current and future downtown residents."
As a whole, Mayor Berry has worked hard to create numerous initiatives in order to reinvest in the downtown and elevate the quality of life and economic viability. This compliments the Mayor’s organic approach to the revitalization of downtown. Complimentary projects include the: KiMo Theater, remodel of the Convention Center, revival of the Mother Road, and construction of the Fourth Street Mall.
The city expects boots on the ground within a year. This $8 Million project will create local jobs and help spur the construction industry. Financing of this project is still being negotiated.