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RFP #03-2026 Sale and Redevelopment of 229 Broadway Blvd. NE

Information on Request for Proposals (RFP) #03-2026 Sale and Redevelopment of 229 Broadway Blvd. NE

The deadline to submit proposals is August 20, 2026 at 5:00 PM.

Issued June 25, 2026

The City of Albuquerque’s Metropolitan Redevelopment Agency (MRA) is seeking qualified developers to purchase and redevelop a City-owned property located at the northwest corner of Lomas Blvd. NE and Broadway Blvd. NE, near Downtown Albuquerque.

The 2.77-acre parcel is located in the Downtown Metropolitan Redevelopment Area, near the Warehouse Arts District, Wells Park, and the planned Rail Trail. The City intends to sell the property to a buyer with a strong, financially feasible proposal that supports economic activity, job creation, walkability, and quality-of-life in Downtown Albuquerque.

Key Dates

What the City Is Looking For

Projects should:

  • Support economic activity, job creation, and new investment Downtown
  • Improve quality-of-life and walkability
  • Add new amenities near Downtown, Wells Park, the Warehouse Arts District, and the planned Rail Trail
  • Align with the Downtown 2050 Metropolitan Redevelopment Plan
  • Fit NR-LM zoning without needing special exceptions, zone map amendments, variances, or conditional uses
  • Include uses that support placemaking, new attractions, alternative transportation, and Downtown redevelopment

The property is listed for sale at $1,630,000. No direct financial assistance is included with this RFP. However, the selected developer may be eligible to pursue other resources separately, including MRA’s Redevelopment Tax Abatement Program.

Proposals that include certain primary uses will not be prioritized, including adult entertainment, cannabis cultivation or sales, car washes, freight terminals, heavy vehicle and equipment sales, outdoor storage, paid parking lots or structures, pawn shops, vehicle fueling or repair, and warehousing.

What Makes a Competitive Proposal

Proposals are evaluated on:

  • Alignment with the Downtown Metropolitan Redevelopment Plan
  • Project details and site plan quality
  • Community benefits (via the required Community Benefit Matrix)
  • Development team experience
  • Project schedule
  • Financial feasibility and financial fitness

Bonus points are available for projects that exceed the minimum Community Benefit Matrix score and for proposals that minimize on-site parking to the extent allowed under the Integrated Development Ordinance.

The City anticipates that the selected project will break ground within two years of sale closing and be substantially complete within four years.

RFP Package Contents

The full RFP package includes the following documents: 

Questions and Formal Inquiries 

All questions regarding RFP #03-2026 must be submitted by email to [email protected] by August 13, 2026 at 5:00 p.m. Questions submitted by any other method, including phone or in person, will not be accepted.

Responses will be issued in writing and posted to this webpage as a formal inquiry, below. All questions and responses will be shared publicly and will not identify the submitting party.

Offerors are responsible for reviewing this webpage for posted addenda and for acknowledging receipt of all addenda in their proposal submission, as required by the RFP.

Formal Inquiries

Inquiry Response #1 - Posted 7.20.26

Question: Are there specific goals for this corridor — activation, tax base, a particular use type, that respondents should be mindful of?

Response: Aside from the goals laid out in the Downtown 2050 MR Area Plan and the Comprehensive Plan, the City has no specific additional goals for the area around Broadway and Lomas. The proposal must adhere to the site’s zoning and should not require any variances or conditional uses. 

Inquiry Response #2 - Posted 7.20.26

Question: What weighting does the selection committee use — price offered vs. proposed use vs. design quality vs. projected tax revenue/job creation?

Response: The RFP Selection Committee uses the Evaluation Criteria described in the RFP, which includes: 1) Alignment with the Downtown Metropolitan Redevelopment Area Plan 2) Provision of a Desired Project 3) Alignment with the Community Benefits Matrix 4) Development Team Experience 5) Project Schedule 6) Financial Plan and 7) Bonus Points for exceeding the minimum score on the Community Benefits Matrix.

Inquiry Response #3 - Posted 7.20.26

Question: This morning (7/8) Councilor Joaquín Baca’s news segment ran in which he heavily advocated for housing.

Response: The property is zoned NR-LM (Non-Residential/Light Manufacturing), which does not allow long-term residential uses, including apartments. A hotel development would be allowed, however.

Inquiry Response #4 - Posted 7.20.26

Question: What is the timeline for the selection process?

Response: The RFP closes on August 20, 2026 at 5pm. The selection process, including review and scoring and preparing a recommendation to the Albuquerque Development Commission, takes approximately 3 months from the closing date of the RFP. Depending on the conditions of the sale, that may add a modest amount to the timeline.

Inquiry Response #5 - Posted 7.20.26

Question: RFP #03-2026 Sale and Redevelopment of 229 Broadway Blvd. NE, Section C. Purpose, Page 6, states: "While a wide range of uses are allowable under NR-LM zoning, many of them are contradictory to the goals and priorities of the relevant Downtown plans, in particular the MRA Downtown 2050 Plan. As such, Proposals that include the following or similar uses as a primary use will not be prioritized:

  • Adult entertainment
  • Cannabis cultivation, manufacturing or sales
  • Car wash
  • Compost facility
  • Freight terminal or dispatch
  • Heavy vehicle and equipment sales
  • Helipad
  • Outdoor storage
  • Paid parking lot or parking structure
  • Pawn shop
  • Vehicle fueling, repair, or sales
  • Warehousing"

Do the listed uses simply subtract points from the evaluation or are these uses something that will be considered nonresponsive?

Response: Per state and local law, all projects supported by MRA resources must align with the approved MRA Plan for the area. As such, MRA invites development proposals that align with the stated priorities in the Downtown 2050 Plan. That said, projects that include the uses identified in RFP 03-2026 as inconsistent with the Downtown 2050 Plan will not be considered nonresponsive. However, they will be scored lower by the review committee than proposals that include more consistent uses. Twenty-five percent of the total score, 50 points, relates to alignment with the MRA Plan.