Titan Development and Maestas Development Group will break ground on an upscale apartment community north of Central Avenue near Presbyterian Hospital next summer.
Dubbed The Broadstone Highlands, the 74-unit multi-family project features a mix of studio, one- and two-bedroom apartments.
With approval from the city planning commission on Thursday, the applicants can pull permits to begin construction on 2.2 acres at Tijeras Avenue and Cedar Street. At full buildout of the 10-acre mixed-use development, two multifamily communities are envisioned, as well as a Marriott Springhill Suites Hotel and multiple retail and restaurant establishments, according to a city staff report.
The development team declined to divulge construction costs estimated to complete the first phase of the three-story project.
Alliance Residential will serve as contractor and leasing agent for the apartment construction, which will feature controlled access, resort pool, garages and a fitness center. Construction should commence in July and be finished within a year, according to a Titan spokeswoman.
Titan Development and Maestas Development Group will break ground next July on the 74-unit Broadstone Highlands apartments. COURTESY OF TITAN DEVELOPMENTThe Highlands name was chosen based on the name of the original neighborhood that was created in 1886. Back then, it was marketed as Albuquerque’s “Highlands,” because the land was on a 60-foot high bluff — literally the high lands — east of the railroad tracks. The Highlands name was replaced in the 1930s, with The Heights, which eventually disappeared as the city developed further north and east. By paying homage to the historical naming of the area, the developers hope The Highlands will become a commonplace name like Nob Hill and EdO.
“The Broadstone Highlands is replacing some of the most blighted property in the city,” said Titan Development CEO Ben Spencer. “We expect The Highlands will be one of the most desirable live-work-play areas in ABQ. In addition to all the amenities, our residents and visitors will have access to an Albuquerque Rapid Transit station, and The Highlands will be a walkable and pedestrian-friendly community.”
The Highlands will serve housing demand generated by nearby job centers, such as Presbyterian, the new Innovation District, Downtown employers and the University of New Mexico, according to the staff report. The site is one block north of the Albuquerque Rapid Transit Project.
Presbyterian is a minority partner in the urban infill development on five city blocks, company officials said in an earlier Journal article.
Presbyterian officials said the land was acquired over a 25-year span. The health care system had considered it for hospital operations, but was able to build on the hospital’s existing campus and at Presbyterian Rust Medical Center in Rio Rancho.
By: Steve Sinovic (Albuquerque Journal)
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