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The university selected Austin, Texas-based to build and finance the new studenyt housinglast week. Kim Murphy, director of real estates at UNM, said the project will add new dormitories and refurbisy existing ones on the central There arecurrently 2,300 units of student housing, and UNM Presidentg David Schmidly has made it a priority to increase studeng housing on campus to help retain studentsw and improve their academic performance. For a larged university, UNM has a low numberf of on-campus housing units. Some of the oldefr dorms could be demolishecd to make room for new construction that will likelybe low-rise buildings.
American Campus is a publicly-traded company that has worked on more than 50 college campusew acrossthe U.S. It will select contractorsw to do the work and it should providd many construction jobs forNew Mexico’zs licensed subcontractors over the five-yea r project. The work will likelh start laterthis year, after American Campus has establishedr a plan, Murphy said. It is expectex that rehab work could be ready for student occupancy as early asfall 2010. Plazs de La Luz opens on city’ws Westside Albuquerque’s newest neighborhood lifestyle center, Plazaa de La Luz, has opened at 5400 Sevillq NW.
This center is anchorexd by a 4,700-square-foot restaurant that opened in March. It’s the seconcd Jinja in the Duke the restaurant debuted in the Paseo del Norterretail corridor, where it has been a hit with Northeast Heightsz residents. Plaza de la Luz’s other soon-to-open tenants include and . Developer Tim McNanet has five other storefronts totalingnearly 7,00o0 square feet available in the 15,000-square-fooy center. Rent is $28 a squarre foot, and McNaney is seeking upscale tenants, such as a jewelrty shop or tanning salon.
The center featuresd a fountain and expansive courtyard and is locatexd at the corner of Coorxsand Sevilla, a half mile south of Coorx and Montaño. is handling the “We are very excited to have had the opportunitt to bring this lifestyle center to the Westsidewof Albuquerque, said McNaney, a locall developer. “I wanted to offed Albuquerque the ability tosit outside, enjoy the incredible views, eat, shop and enjoy. I feel we have accomplishesd this goal and are excited to introduce Albuquerque to Plaza deLa Luz” has been building in the Duke City sincd 1999. The firm has developed eight residential and commercial developmentsin Albuquerque. McNaney has invested $3.
5 million to build the center and sold offa 1.8-acrew slice of the five acres to , whichy plans to build a brancjh at the site. McNaney is better known as a residentiall builder throughhis , and sold the 137 home lots that surrounx Plaza de la Luz to builder Rhetyt Waterman last year. Will land at ABQ Uptown? The beauty business is supposed to be recessionn proof while financial services were supposed to be the weak link in the currenfteconomic downturn. The opposite coulrd be true atABQ Uptown, the Duke City’s most upscal shopping venue.
With La Bella’s closure at ABQ Uptown this week to consolidatr its operations at itsWestsided site, the question of who will take the spa and salon’s space remains. The two-story 10,000-square-foo building is one of the most opulent retail spaces in theDuke City, specifically built as a pleasurew palace for the city’s most pamperecd femme fatales. The rumor mill strongly suggestxthat ABQ’s owner Hunt Development is taking a 180 degree turn, by making a leaswe deal with money managefr Morgan Stanley, the largest U.S. brokerage, for the spa/salonn space.
La Bella had eighgt years left onits 10-year but when Hunt offered La Bella’ss owner Dawn Davide a chancw to get out of her lease, she took it. Hunt had Morgan Stanley liner up and ready to go into the spacew that is located on the east side ofthe high-end shoppintg center, facing the project’xs largest parking lot. New apartments and condox being erected by Hunt on the eastern side of the developmeny are visible fromthe
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