El Parador Opens Doors to New Urban-Infill Housing
ALBUQUERQUE – Community members, local leaders, and project partners gathered today to celebrate the ribbon cutting of El Parador, a 20-unit apartment complex bringing much-needed housing, walkability, and vibrant design to the University Metropolitan Redevelopment Area.
Developed by 201 Yale LLC, El Parador transforms a former surface parking lot—once marked by vandalism and disuse—into a thoughtfully designed, urban-infill housing project. Located at 201 Yale Blvd. SE, the three-story development features pedestrian-focused design along both Silver and Yale, enhanced streetscaping, and a planned public mural that will add color and character to the neighborhood.
“El Parador is exactly the kind of housing development Albuquerque needs right now,” said Mayor Tim Keller. “It takes an empty, problem lot, and turns it into an opportunity for Burqueños to live in walkable, connected neighborhoods near schools, jobs, services, and transit.”
This project was made possible in part by a public-private partnership with the City’s Metropolitan Redevelopment Agency (MRA). Through the Redevelopment Tax Abatement program, MRA is contributing approximately $119,000 in property tax savings over seven years, helping support the project’s long-term success and affordability.
“We’re working to make sure every underused corner of our city becomes an opportunity,” said MRA Director Terry Brunner. “When local developers bring strong ideas to the table, the City can help turn vision into reality. El Parador is a great example of a successful public-private partnership that delivers lasting value to the community.”
The development team—Jay Rembe, Allen Lewis, and Ahmet Tiryaki— are experienced local investors with a strong track record of transformative infill housing and mixed-use development in Albuquerque.
“El Parador was designed to complement and enhance the existing fabric of the University area,” said Jay Rembe, principal of Rembe Urban Design & Development. “With support from the MRA, we transformed a long-overlooked vacant parking lot into much-needed housing that encourages walkability, healthy living, and features thoughtful urban design. El Parador not only brings high quality, larger units with more storage to meet resident demand, but it also offers a secure, gated auto court—all in a truly walkable location that complements our nearby Brickyard project and strengthens the vibrancy of the neighborhood.”
El Parador is designed to be solar-ready and includes infrastructure for future solar panel installation. Landscaping, lighting, and sidewalks make the area comfortable and accessible for pedestrians and cyclists. With ground-floor units that open right onto Silver, the building is helping to activate the street and foster a safer, more welcoming environment for all residents.