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Downtown Vacancies the Focus of Second Round of Storefront Grants

$750,000 in City funding available to eligible businesses

November 15, 2022

ALBUQUERQUE – Today, the Metropolitan Redevelopment Agency (MRA) is launching its second round of the Downtown Storefront Activation Grant Program. The grant program is designed to support thriving urban districts with the goals to attract established businesses with existing customer base; improve safety by increasing foot traffic to new businesses; decrease the number of vacant commercial spaces in Downtown Albuquerque; and create an attractive physical environment with well-designed and engaging storefronts.

Businesses or nonprofits that occupy and rehabilitate ground-floor commercial space within the designated Downtown Albuquerque boundary may apply. $50,000 to $250,000 grants will be awarded based on eligibility criteria and the square footage of the leased commercial space. The grant funding can include security cameras and will be spent on a rolling-basis with each application reviewed by the Agency on a first-come, first-serve basis. A total of $750,000 of funding is available.

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“This is a revitalization and economic strategy that will help activate Albuquerque’s downtown core,” said Mayor Tim Keller. “We are investing in building a vibrant downtown and delivering financial resources for downtown businesses to succeed.”

The first round of Downtown Storefront Activation Grant funding awarded $500,000 to 15 local businesses and filled over 40,000 square feet of vacant space.

“We received a lot of positive feedback from the first round of grant funding,” said Terry Brunner, Director of the Metropolitan Redevelopment Agency. “Local businesses were given an opportunity to either establish or grow into the downtown core, while simultaneously filling those vacant spaces and adding street-level vitality.”

For information on eligibility and details on how to apply, visit cabq.gov/storefront. The program will remain open until all funding has been expended.