Titan Development last week unveiled the firm’s new, 158-unit multifamily complex at Journal Center, a business park in Northeast Albuquerque.
The project, Allaso Journal Center, is part of Titan Development’s Allaso series of projects and was constructed by Pavilion Construction and ORB Architect. Located at 7800 Headline Blvd. NE, the development, which cost $35 million, stands four stories and is 175,000 square feet.
Pavilion’s VP of New Construction Karl Smith said the first two stories are fully constructed, with the remaining two floors set to be completed by mid-August.
The building features one- and two-bedroom apartments, starting at $1,716 and $2,071, respectively, Greytstar Regional Property Manager Justin Stone said, However, rent prices are not set in stone and will fluctuate based on demand, he said.
Amenities includea resort-style pool, spa, cabanas and barbecue grills. Allaso Journal Center uses smart-lock company Latch to provide secure complex access.
“This is the kind of luxury living people want and are looking for if they’re going to see apartments go up,” said District 4 City Councilor Brook Bassan. The Journal Center is located in District 4, Albuquerque’s Northeast Heights.
The development caters to residents looking to live, work and play in the same area. Journal Center Corp. President Lowell Hare said the newly created, mixed-use development will encourage economic activity and improve public safety.
“Allaso will begin a transformation of a suburban office park into a mixed-use development, which will create walkability and transform an area from a 12-hour to an 18-hour activity area,” he said.
In addition, Titan is developing another multifamily complex just south of the Dekker Perich Sabatini offices. The Senary by Allaso will add another 209 units of housing to the Journal Center community, Rogers said.
Principal of Titan Fund Management and Partner of Titan Development Kurt Browning said the firm has 11 multifamily projects in Albuquerque, seven that are completed and four under construction. The Allaso Journal Center Project was made possible by Titan’s Fund II, which closed in 2020 after raising $95 million. The fund is being used toward other Allaso projects such as Allaso Vineyards and Allaso High Desert.
Last year, the real estate development firm closed Fund III at $122 million. The fund will be used to continue industrial and residential development in Texas, Arizona, New Mexico, Florida, Southern California and Colorado. Since 2017, the firm has raised a total of $329 million for projects, according to a news release.