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

The concrete slab for Building Pad 7 has been poured, and Buildings 8 and 9 are ready for concrete slab pour. Building 1 has begun framing, the walls are complete and are awaiting trusses. Buildings 3, 4, and 5 have commenced framing layout, with actual framing beginning in December. Underground plumbing rough is at 70% completion and underground dry utility trench work (electric, gas, and communication) has begun and is at 35% completion. The North segmental wall is at 50% completion. Construction of the East segmental wall behind Building 3 has begun. The retaining wall footings have been poured at the out flow of the box culvert, and CMU work is set to begin in December.