Location

Albuquerque, NM

Size

281 Units

Fund Equity

$18.9 M

Total Project Cost

$67.1 M

Date Approved

12/14/2020

Start Date

1/10/2021

Allaso High Desert

Summary

Allaso High Desert is a 281 unit, 16-acre multifamily complex located along Tramway Boulevard in Albuquerque, New Mexico. The Allaso High Desert site is located in one of the most desirable areas in Albuquerque. Located at the base of the foothills of the Sandia Mountains, this unbeatable location will serve an area of town with limited new class A multifamily opportunities.

The site will have direct access to the foothills trail system which connects to hundreds of miles of single-track trails east, south, and north spanning the entire Sandia Mountains. The site is directly east of the Tanoan community, which boasts some of the highest home values in the metro area. Due to the proximity to the Sandia Mountains and National Forest Service Land, in addition to the existing concentration of single-family homes, there are limited to no medium to large tracts available for multifamily development remaining in the northeast heights. New competition for this site is expected to be minimal to non-existent. The site is located within the school district boundaries of Georgia O’ Keefe Elementary, Eisenhower Middle, and La Cueva High School, which are three of the top performing schools in the state.

Latest News

Overall framing is at 35% completion. Building 1 (Leasing) is anticipating trusses in two weeks. Building 2 (Fitness) and Building 4 trusses are approved and awaiting production and delivery. Delivery is expected in 3-5 weeks. Buildings 3, 5, and 7 (Townhomes) remain in a hold status pending resolution of footing discrepancy solution. Framing of buildings 4 and 6 is progressing through 3rd level. Building 8, 9, 11 and 12 have begun framing. Building 12 foundation prep for slab pour in progress. Building 10 slab is being poured. Building 14 is awaiting slab pour. Buildings 15 plumbing underground installation is awaiting back fill of West wall. Buildings 16 and 17 underground plumbing is complete. Building 18 underground plumbing has begun. Underground dry utility joint trench work (electric, gas and communication) is at 85% completion. North segmental wall is at 95% completion. East segmental wall behind buildings 5 and 7 finished. West segmental wall is 25% complete. Rough grading has begun at the entrance for setting curbs and gutters, and is at 15% completion. Joint trench is at 100% completion. Box culvert work is 100% complete and is awaiting final review by AMAFCA. AMAFCA approval will allow LOMAR action to be completed by the Civil Design Team.