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Mayor Keller Builds on Downtown Revitalization on Vacant Lot at First and Silver

Future high density residential or mixed-use project will to boost Downtown

ALBUQUERQUE, N.M — Mayor Tim Keller and the City of Albuquerque Metropolitan Redevelopment Agency (MRA) are requesting proposals from developers to partner with the City to redevelop a vacant lot at 101 Silver Avenue SW at the southwest corner of Silver Avenue and 1st Street into a high density residential or mixed-use project. Other recent projects in the area include Innovate ABQ, Hotel Parq Central, the Imperial Building, Hilton Garden Inn/Homewood Suites, One Central, The Highlands, and Glorieta Station.

Mayor Keller said, “Coronavirus dealt a blow to our momentum downtown, and we’re stepping up in a variety of ways to help our state’s only urban center recover that momentum and come back from this ordeal better than ever. This vacant lot at First and Silver, combined with other big projects we’ve been a part of downtown, is going to add a vital thread to downtown’s urban fabric.”

The goal of this RFP is to increase the number of housing options in Downtown. Priority will be given to projects that are naturally affordable to the average consumer by providing a housing product that serves middle-income occupants.

“The Metropolitan Redevelopment Agency promotes redevelopment and economic revitalization in Albuquerqueby revitalizing downtown and surrounding neighborhoods, leading collaborative public-private partnerships that result in catalytic change, investing in sustainable infrastructure, and providing opportunities for local residents and businesses to thrive,” said Karen Iverson, City of Albuquerque Metropolitan Redevelopment Agency Manger. “Revitalizing Downtown is a priority for the MRA team and with this RFP, we want a project that creates a catalytic impact for Downtown.”

The City will offer the property through a sale or long-term ground lease to the selected developer, which considers the community, economic and social benefits of the planned redevelopment.

The overall goals of the RFP include:

  • Increase housing and density options
  • Placemaking
  • Catalytic economic redevelopment
  • Contribution to goals outline in the Downtown 2025 plan
  • Contribute to the overall Metropolitan Redevelopment Area (MRA) Plan Goals

More information and full details of the RFP are available at the City’s Metropolitan Redevelopment Agency’s website. Responses are due by November 5, 2020.