Originally appeared inNew Mexico Apartment Report Vol. Late last year, we were hired to perform a feasibility study for the City of Albuquerque, on downtown housing. For Gentrification to occur, Downtown needs to grow a stabilized residential base that will, encourage national and local expansion on a retail level, thus bringing in more employers who require downtown housing and continuing an upward spiral that similar to Denver, Dallas, Houston, Ft. Worth, San Diego, San Francisco, New Orleans, Manhattan, and other have witnessed in their downtown CBD s. Stabilized housing will add to the quality Albuquerque Country Club to the west, and to the Alvarado Apartments to the south.
Housing needs to include rental and ownership, from affordable to luxury levels.
4 Downtown is the gateway to several communities, ethnic groups, and periods in time. Typically single, or recently married, they work long hours, and do not have time to shop, eat, commute, or enjoy life. What little free time they enjoy will focus on close by cultural amenities and cocooning in their above average residence. Their long work hours and harried work schedules encourage them to maximize quality home time by avoiding long commutes to work or to the Airport. These same individuals may currently work out of their home and as such, may require an extra bedroom or home office .