September 3, 2021
Today, the City released details of more than $ 160 million in upcoming projects as part of the Metropolitan Redevelopment Agency’s (MRA) 2021 Annual Report. The report highlights projects completed in 2020 that have helped keep the economy afloat and outlines the significant economic impact that the redevelopment and revitalization of downtown Albuquerque will have on the city’s strong recovery in the event of a downturn. pandemic.
“Coming together to keep our city running and the economy on the move during the pandemic has paved the way for the strong recovery we are currently achieving,” said Mayor Tim Keller. “With an additional $ 160 million in projects underway, we are preparing to create new opportunities for small businesses, invigorate our downtown and create a built environment our city is proud of, by attracting additional investment. “
MRA collaborations have turned every dollar of public investment into ten dollars of economic impact. In FY2021 alone, MRA projects supported the construction of 178 residential units and 138 hotel units, supported 110 small businesses with COVID-19 relief funding, which helped reinvest $ 78.7 million in the city.
“These innovative projects and main street revitalization programs will ensure that our downtown area becomes pleasant and vibrant again,” said Karen Iverson, Head of the Metropolitan Redevelopment Agency. “With our upcoming projects, we are creating catalytic and equitable change and attracting more business and investment to Albuquerque.”
Some of the projects completed in FY21 include the residential portion of the Nuevo Atrisco development, which created 86 affordable housing units; the Highland Springhill Suites with 118 hotel rooms, 20 dedicated long-stay units for the Ronald McDonald House and a pedestrian bridge; and nearly half a million dollars in outdoor dining grants, distributed to business owners in Albuquerque to help create safe food spaces for COVID.
“Our parquito has allowed us to bring color, happiness and a sense of normalcy to our dining experience during COVID,” said Gurubachan Khalsa, owner of Mata G Vegetarian Kitchen. “It brings people to the door because they want to sit somewhere comfortable to relax and have fun. We plan to keep our patio even after COVID. “
Highlights of the upcoming project include the Rail Trail, which will connect the downtown area to surrounding areas, transit options and the Rail Yards redevelopment site; and the renovation of the Imperial Inn in the downtown east side, with 13 micro-restaurants and micro-retail spaces, 58 upgraded guest rooms, 16 short- and long-term living units, and event space.
To explore the full report of the Metropolitan Redevelopment Agency’s completed and upcoming projects, visit cabq.gov/MRAreport.