The city of Albuquerque and Bernalillo County are joining funding forces to develop a 4.3-acre site at 3525 Fourth Street NW, near Candelaria Road. The property would be a mix of workforce housing and commercial development.
County Commissioner Debbie O’Malley told Business First that a plan to acquire the site has been in work for a few years and is now coming to fruition.
“It’s something we’ve had our eyes on for awhile. It is a true redevelopment project and will be a catalyst project for the area that should lend itself to some creative ideas,” O’Malley said.
O’Malley said one idea that has been raised is the promotion of local agriculture, in the form of farmers’ markets, or some kind of retail or distribution center that isn’t represented in the North Valley. She said nothing has been decided, however, and that there are a lot of possibilities.
O’Malley said the funding mix will include $200,000 from the county and $1.2 million from the city’s Workforce Housing Trust Funds. She said city and county officials are in initial stages of devising a request for proposals.
The site is located in the Near North Valley neighborhood and fits into the North Fourth Street Rank III Corridor Plan, which calls for more mixed use and residential development. The first phase will include the demolition of some old structures that are on the site.
By: Damon Scott (Albuquerque Business First)
Click here to access the source article.
