The industry's total office development planned for 1999 is approximately 350,000 square feet, according to Smith. Although most 1998 projects were in the northwest area, nearly all of 1999's projects are to be in the northeast. The total for 1999 retail construction in the Albuquerque metro area is expected to be over 350,000 square feet as well, a drop from 1998's 400,000. A large amount of home construction is moving from one part of Albuquerque to another, according to Jim Folkman, executive vice president of the Home Builders Association of Central New Mexico. Through 2000 we'll see the trend go from the Northeast Heights and Northwest Mesa to many more starts in the Southwest Mesa.
Home construction is also strong in infill areas.
High-end custom home building in Albuquerque remains at a steady level. A year ago, many were predicting a drop in home construction, but starts were 40 percent higher than in 1997. In Silver City, Angel Fire and Taos, things are really booming. Roswell looks good and Farmington is seeing a lot of activity. In Las Cruces and Clovis, most builders are on a long-term upswing.