DOWNTOWN ALBUQUERQUE Data, statistics, and information on Downtown Albuquerque, New Mexico
provided by the downtownabq mainstreet initiative | downtownabq.org
2017-2018
TABLE OF CONTENTS welcome to downtown albuquerque .......................4 albuquerque & downtown demographics.................6 development ....................................................10 downtown development highlights .......................14 downtown highlights..........................................18 development incentives .....................................20 markets ...........................................................22 live | work | play ...............................................24 the arts & cultural district ..................................30
map: historic buildings walking tour.....................31 map: coffee & beer guide...................................32 map: contemporary arts walking tour ...................34 2017 highlights ................................................36 about us ..........................................................40
WELCOME TO DOWNTOWN ALBUQUERQUE
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DOWNTOWN DEMOGRAPHICS P O P U LAT I ON Albuquerque’s greater metro area populaton just exceeds 909,000 residents, and is growing at 1-2% annually. The total population within 3 miles of the downtown core is 81,671 living in 33,005 households. D IV ERS I T Y Downtown’s high diversity index (79) exceeds the US average diversity index of 63.5, meaning that your neighbors are a broad and eclectic mix of ethnicities and races. (esri.com) L A N GUA GE & E T H NICITY Over 20% of Albuquerque’s population is bilingual; nearly half of the population is of Hispanic/Latino origin. (census.gov; abq.org/demographics)
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DOWNTOWN ESRI MARKET TAPESTRY Esri Tapestry Segmentation classifies neighborhoods into 67 unique segments based not only on demographics but also socioeconomic characteristics. It describes US neighborhoods in easy-to-visualize terms, ranging from Soccer Moms to Heartland Communities. Downtown Albuquerque is considered “Emerald City”.
Downtown Albuquerque
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Community
2,218,579
159,290
159,290
7.18%
7.18%
(28,277)
$14.89
Free-standing
8,522,132
288,396
313,396
3.38%
3.68%
(14,603)
$13.31
Neighborhood
7,196,403
1,148,633
1,132,028
15.96%
15.73%
(4,819)
$14.65
Power
1,529,223
100,348
106,598
6.56%
6.97%
54,203.00
$14.12
Showroom
1,851,189
-
-
0.00%
0.00%
-
380,815
-
-
0.00%
0.00%
-
DOWNTOWN DEVELOPMENT DEVELOPMENT Specialty/Theme
-
Strip
5,251,915
457,853
450,784
8.72%
8.58%
16,111.00
Super Regional
2,190,336
220,358
220,358
10.06%
10.06%
(5,358.00)
NA
347,745
36,427
36,427
10.48%
10.48%
6,171.00
$16.18
29,488,337
2,411,305
2,418,881
8.18%
8.20%
23,428
$11.91
Urban Retail Total
$13.74
Market Statistics by Submarket RETAI L MA R K E T In Q3 of 2017, Downtown retail space totals 610,095 square feet. Of this, only 40,304 square feet were available, a vacancy rate of 6.61%.(Q3 2017; colliers.com)
Albuquerque – Retail SUBMARKET
TOTAL SF
AVAILABLE %
VACANCY %
CHANGE IN AVAILABILITY
RENT Q2 2017
4,170,757
347,197
347,197
8.32%
8.32%
(11,723)
Downtown
610,095
40,304
40,304
6.61%
6.61%
4,171
$15.02
Far Northeast Heights
3,985,626
330,270
302,270
8.29%
7.58%
14,569
$16.06
North I-25
3,397,712
362,755
362,755
10.68%
10.68%
(9,386)
$11.30
886,696
70,340
70,340
7.93%
7.93%
(5,120)
$11.12
Northeast Heights
4,323,038
256,358
267,753
5.93%
6.19%
1,432
$13.51
Rio Rancho
2,072,096
268,697
269,747
12.97%
13.02%
18,401
$15.01
137,915
137,915
10.76%
10.76%
(5,960)
$8.66
320,964
320,964
11.15%
11.15%
14,662
$12.39
Market Class South ValleyStatistics by 1,281,653 Southeast Heights
2,879,609
Albuquerque – Office
University
980,036
West Mesa Class A Total Class B
45,679
$15.84
45,679
4.66%
4.66%
(14,977)
$12.11
TOTAL SF 2,459,628
AVAILABLE SF 51,041
VACANCY SF 51,041
AVAILABLE % 2.08%
VACANCY % 2.08%
ABSORPTION 14,642
RENT$22.10 Q2 2017
2,441,391 1,446,003 29,488,337 9,739,059
179,785 304,243 2,411,305 2,028,351
202,916 293,246 2,418,881 1,969,923
7.36% 21.04% 8.18% 20.83%
8.31% 20.28% 8.20% 20.23%
2,717 (15,670) 23,428 (31,541)
$16.90 $22.53 $14.62 $17.34
UptownASKING RENT
Class C 325,071 333,517 11.22% 17,680 $13.90 * Retail inventory includes all multi-tenant 2,896,027 and single tenant buildings at least 10,000 square feet. Available space includes all vacant 11.52% space and occupied space currently on the market for lease. “Change in Availability” is based on the change of availability from beginning of quarter to the end. “Absorption” is based on the change of vacancy from the beginning of the 14,081,089 2,657,665 2,596,686 18.87% 18.44% (29,531) $17.71 quarter to the end. Copyright © 2017 Colliers International.
Market Statistics by Submarket Albuquerque – Office SUBMARKET
TOTAL SF
VACANCY %
ABSORPTION
Airport
1,051,451
450,122
430,122
Downtown
3,098,513
810,133
798,063
42.81%
40.91%
(9,188)
$13.57
26.15%
25.76%
2,431
Far Northeast Heights
962,823
104,104
$18.06
83,604
10.81%
8.68%
(5,212)
Mesa del Sol
297,447
$16.61
70,615
70,615
23.74%
23.74%
-
$22.50
3,575,539
433,046
392,865
12.11%
10.99%
(13,775)
$19.08
Northeast Heights
800,554
64,859
59,698
8.10%
7.46%
8,518
Rio Rancho
607,609
69,052
78,272
11.36%
12.88%
11,874
Heights Research Report 912,640| Q3 2017 124,227 156,113 International 13.61% 3 Southeast Albuquerque | Retail | Colliers
North I-25
BUILD ING P E RMI T S The Downtown Core has seen over $45 million dollars in building permits in the past 18 months which has included permits for new construction, renovation, and remodel for over 75 different properties.
VACANCY
Cottonwood
North Valley
OFF IC E MA R K E T With average leasing rates for commercial spaces averaging $22.53 per square foot for Class A and $17.31 per square foot for Class B, Albuquerque has some of the most affordable commercial office space in the country. Downtown currently offers 3,098,513 of office space, down from 3,158,324 square feet. This decrease is tied to the growing coversion of office space to residential. As of Q3 2017, downtown has vacancy rate of 25.7% and an average lease rate of $18.06(Q3 2017; colliers. com). With other large office buildings changing ownership recently, we expect the vacancy rate to continue to trend downward in the coming year.
AVAILABLE SF
University Uptown
West Mesa Total
AVAILABLE SF
VACANCY
AVAILABLE %
RENT Q2 2017
$14.24 PHOTO BY$17.16 NICHOLAS RODRIGUEZ
17.11%
(48,297)
$15.59
636,950
116,641
116,641
18.31%
18.31%
-
$13.72
1,808,891
321,263
317,252
17.76%
17.54%
4,872
328,672
93,603
93,441
28.48%
28.43%
19,246
$17.22
14,081,089
2,657,665
2,596,686
18.87%
18.44%
(29,531)
$17.71
$19.52
* Office inventory includes all multi-tenant and single tenant buildings at least 10,000 square feet. Available space includes all vacant space and occupied space currently on the market for lease. Government and medical buildings are not includes if these tenants own and occupy 100% of the building. Asking rates are full service gross on a per square-foot annual basis. “Change in Availability” is based on the change of availability from beginning of quarter to the end. “Absorption” is based on the change of vacancy from the beginning of the quarter to the end. Information herein has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed. The user is required to conduct their own due diligence and verification. Copyright © 2017 Colliers International.
11 E N E R GY New Mexico ranked 6th in crude oil production in the nation in 2014, and 6th in utility-scale electricity generation from solar energy. New Mexico’s residential, commercial, and industrial energy prices as of December 2014 were up to 12.63% lower than comparble rates across the nation. Wind power accounted for 11% of New Mexico’s electricity generation in 2016 from almost 900 wind turbines. The state has about 1,400 megawatts of installed electricity generating capacity from wind. Our abundant sunshine gives the state some of the nation’s best solar energy potential. The number of utility-scale solar photovoltaic (PV) facilities in New Mexico is increasing, including large corporate PV installations. (eia.gov)
DEVELOPMENT TAX B E N E F I T S Continued tax cuts and growing state revenues have improved the state’s tax climate, lowering the tax burden in New Mexico to its lowest rate in 20 years. New Mexico ranks #1 in property tax ranking according to The Tax Foundation’s 2015 State Business Tax Climate Index Ranks. The state is also in the process of phasing down its corporate income tax rate from 7.3% to 5.9% by 2018. New Mexico’s individual income tax system consists of four brackets with a top rate of 4.9%. The top rate ranks 35th highest among states levying an individual income tax. New Mexico’s state and local tax collections per person were $595 in 2013, which ranked 38th highest nationally. (taxfoundation.org) UT IL I T I E S I N F R ASTR U C TU R E Albuquerque is the crossroads of the 12,000 mile National LambdaRail (NLR), the “network of networks” and a national, advanced optical network running both N/S and E/W. There are no restrictions on usage or bandwidth. The downtown network is fed from two different locations on the utility company transmission system (Public Service Company of New Mexico, or PNM), minimizing disruptions in service by providing two feeds.
MAP: RECENT DEVELOPMENT
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DOWNTOWN DEVELOPMENT HIGHLIGHTS O N E C EN TR AL - DOW NTOW N E NT E RTA I NME NT DI S T RI CT W ith its v in tage neon si gns al ong Rou te 66, w o rld- c la s s mu seu ms, vi ews of the Sandi a Moun ta in s , and an array of craft b reweri es a n d c o f f ee shop s, Downtown Al b u q u erq u e is a h igh desert oasi s wi th an i rrep l aceab l e c h a ra c ter. One Central Entertai nment Di stri ct em bodies D owntown’s di sti nct q u al i ti es wi th a c o m bin a ti on of entertai nment venu es, res ta ura n ts , of fi ces, retai l , and l i vi ng sp aces th a t s upport contemp orary u rb an l i festyl es. One C en tra l c reates an i mmersi ve l i ve/ work/ p l ay en v iron m en t on mu l ti p l e l evel s and throu gh a v a riety o f indoor/ ou tdoor sp aces that wi l l b e th e c en tra l attracti on of a rap i dl y revi tal i zi ng down to w n . O n e C en tra l marks the gateway to downtown A BQ a t th e c or ner of Fi rst St. and Central Avenu e. I t is Tra n s it Ori ented, featu ri ng an Al b u q u erq u e Ra pid Tra n s it Stop (AR T) al ong Fi rst St. and s itua ted dire ctl y across the street from the Rai l Run n er a n d Amtrak Stati on. Th e D ev elo pment featu res 63 market rate m o der n a pa r tments, 44,000 sq u are feet of street lev el en tertai nment and retai l and over 20,000 s qua re f eet of p ati o sp ace. A wrap p ed p arki ng s truc ture in c lu des 423 covered, secu re sp aces. Th e la n ds c a p ed ‘p arq u i to’ or p u b l i c p l aza on th e c o r n er wi l l set the stage for sp ontaneou s ga th erin gs and i nteracti ons that are vi tal to a v ibra n t a n d evol vi ng downtown commu ni ty. ( o n ec en tra lab q .com)
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ALBU QU E R QU E ’S I N N O VATIO N C O R R I D O R c on tin ues to grow with th e la un c h of the fi rst two faci l i ti es wi thi n t he Inno v at e A B Q d e ve lo p m e n t th e L o bo Ra in f ores t Buildin g a n d C NM’s FUSE Makersp ace. The Lob o Rainfo re st B ui l d in g in c lu d e s U N M’ s I n n ov a tion A c a dem y , of f ic es f or the Ai r Force Research Lab (AFRL), S andi a Na t i o n a l N a tio n a l L a b o r atories , Gen era l A to m ic s a n d a n ew cafe as wel l as dor mi tory sp ace f or s t ud e nt s pa r ticip a tin g in I n n ov a tio n A c a dem y a n d rela ted progra ms. The FUSE Makersp ace p rovi des access a nd c l a s s e s f o r a va r ie ty of equipm en t, f ro m pla s m a c utters a n d 3D p ri nters to jewel ry maki ng and t - shi r t pr i nt i ng . A ls o a t th e F U S E Ma kers pa c e is th e o f f ic e f or th e A BQid Accel erator and new startu p , Bu i l d with Ro bo t s. Th e s e j o in a n e xp a n din g en trepren euria l h ub th a t in c ludes Central New Mexi co Commu ni ty Colleg e ’s ST E M u lu s C e n te r, b u s in e s s in c uba to r F a tP ipe A BQ, a n d bus in ess devel op ment i ncu b ator W ESST, am o n g o t h e r s. (in n o va tio n c e n tr ala bq. c o m
DOWNTOWN DEVELOPMENT HIGHLIGHTS
T HE 2030 D I S T R I C T Downtown Albuquerque is one of the first 10 cities - among the likes of San Francisco, Denver, and Seattle - to commit to meet the energy, water, and transportation emissions goals as designated by the 2030 Challenge for Planning. By the year 2030, these districts strive to improve building performance around the nation in a public-private collaboration. Albuquerque will use the High Five Certification Program to achieve these goals, which is a customized program for commercial buildings that tracks property performance against outcomes specific to the city. (2030districts.org)
17 T H E IM PER IAL BU IL D IN G is approximately 120,000 square feet with a 11,500-square foot grocery store, 74 apartment units, and one level of underground parking. It was created, built and funded by a collaborative vision involving Mayor Berry and City MRA staff, Geltmore LLC, and YES Housing. The total amount of retail (including the grocery store) is 23,285 square feet. The apartments are a mix of studios (9 units), one bedroom (54 units), and two bedrooms (11 units) apartments, of which 80% of the units are made available at subsidized rents, and the remaining 20% are market rate rentals. The development was financed with a mix of Federal Low Income Housing Tax Credits, County Issued Industrial Revenue Bonds, and City Workforce Housing Trust Funds. The building, designed by Dekker/Perich/Sabatini, has a robust rainwater collection system on-site: a 24,000-gallon cistern collects rainwater from the rooftop to irrigate 100% of all landscape on the project, including the rooftop community garden. (imperialapts.net)
DOWNTOWN HIGHLIGHTS Civic Plaza is in progress of receiving major upgrades by the City of Albuquerque, including an interactive, family-friendly water element, additional shade structures, an adventure playground and a large format visual projector. Improvements will be completed Spring 2018.
CIVIC PLAZA is the largest public space in the center of downtown, with a capacity of 20,000 people and a sizable performance stage. Civic Plaza is managed by SMG who also manages the adjacent Albuquerque Convention Center. SMG’s expertise in event facility management facilitates the use of Civic Plaza for a wide range of events. SMG also programs free ongoing free community events for the people of Albuquerque under the name of ‘Civic Plaza Presents’. A Heart of the Community grant from Southwest Airlines procured by DowntownAbq MainStreet has provided tables and chairs, shade umbrellas, the Silver Spoon Pop Up restaurant/Airstream trailer, and a large-scale movie projection system. All these elements are key ingredients that make Civic Plaza a great gathering place that enhances the downtown area and the city’s sense of community. All events and activity on the plaza are family friendly with elements to engage both adults and kids. Dogs are welcomed and, with a Bike Share station right at the Convention Center front doors, there is an emphasis on events being bike friendly as well. Beer sales in a low-key, festival-style atmosphere are an important ingredient to many Civic Plaza events which highlight the city’s burgeoning craft beer market. ABQ FOOD FRIDAYS Is a weekly open-air pop-up happy hour event on Fridays that will be entering its fourth season in 2018. This series promotes Civic Plaza as a gathering space where people can enjoy fine food, drinks and music in a fun and unique atmosphere with no cover charge. In 2017 some of the featured restaurants included: Tucanos, Slate Street Café, Delish, Olympia Cafe, JR’s BBQ & Seafood, Pasión Latin Fusion, M’Tucci’s Italian Market, Poki Poki Cevicheria, among many others. The chefs serve out of the Silver Spoon – Civic Plaza’s own top-of-the-line mobile kitchen in a beautiful, newly renovated vintage Airstream trailer.
19 All entrées have a fixed price point of $10 or less. A rotating selection of craft beer from the city’s finest breweries and wine is also available. Each ABQ Food Friday also features live entertainment from a different local band. Featured bands include local favorites such as Cali Shaw Band, Le Chat Lunatique, The Real Matt Jones, Native Roots, Red Light Cameras, Sol de la Noche, Alex Mayrol Band, Merican Slang, Jade Masque, the Rudy Boy Experiment and others. The Imagination Playground is available for kids to play with. MOVIES ON THE PLAZA SMG also offers a free series of open-air screenings of family friendly movies called Movies on the Plaza. The series grew rapidly to become enormously popular and attracted crowds of up to 1,000 during the season, which the spacious plaza can accommodate comfortably. The Movies on the Plaza series has included Inside Out, Grease (sing-along version), The Jungle Book, Guardians of the Galaxy, Spirited Away, The Never Ending Story, Goonies, Zootopia, Frozen (sing-along version), The Princess Bride, The Sandlot, Aladdin, A League of Their Own, Singin’ in the Rain, Back to the Future, Beauty and the Beast, the Breakfast Club, Moana, and more. All the movies are free and open to all residents of the city. Movies on the Plaza features one of the largest outdoors screens in Albuquerque. Movies start at dusk right after sunset and the conclusion of the live music from ABQ Foods Fridays where moviegoers can have dinner prior to show time.
YOGA ON THE PLAZA “Civic Plaza Presents’ also provided free weekly yoga sessions during the 2017 season. Yoga continues in 2018 with a family/ kids session at 11:00 a.m. and an all-level session starting at noon. Civic Plaza Presents partners with Mi Vida Yoga as part of their mission to bring yoga to all people in order to improve health and quality of life.
TRUCKIN’ TUESDAYS Every Tuesday from 11 a.m. to 1 p.m., Civic Plaza rounds up some of the city’s best food trucks to serve lunch while music plays in the background. People are encouraged to enjoy some great eats in the shade at one of the colorful bistro tables, or take their food to go. Truckin’ Tuesdays is a yearround event.
DOWNTOWN INCENTIVES A S TAT E- A U T H OR I ZE D A RTS & C U LTU R AL DISTRICT Downtown is able to tap into beneficial incentives such as enhanced historic tax credits for the rehabilitation of historic structures. A goal in utilizing these incentives is rehabilitating adaptive reuse of historic structures for live/work space and space for cultural enterprises. (nmartsandculturaldistricts. org) D E V E L OPM EN T P R OC E S S Downtown provides some of the lowest City development fees in the region, giving a competitive advantage over suburban sub-markets. It is also Impact Fee free, a Metropolitan Redevelopment Area incentive to encourage downtown development. According to cabq.gov, “Albuquerque’s Metropolitan Redevelopment Agency is responsible for infill development in established Metropolitan Redevelopment Areas (MRAs)... The Agency promotes the development of neighborhoods through housing and commercial revitalization.” Downtown historically has had the City’s most streamlined development approval process, notably its form-based code that establishes an easy four-step process to development. In 2017, the City’s Zoning Code was updated into an Integrated Development Ordinance which has significantly help streamline the development process for the larger city as well as Downtown.(cabq.gov/planning/ metropolitan-redevelopment-agency)
ALBUQUERQUE...
Is one of the “Top 10 Best US Cities for Local Food” (Huffington Post) Was named “One of the Best Cities for Families” (Parenting Magazine) Is one of the “Top 10 Cities for Aspiring Filmmakers” (Film Industry Network) Is one of the “Top 25 Arts Destinations in the Country” (AmericanStyle magazine) Has one of the “Most Iconic Regional Food in America” (Our green chile, from USA Today’s 10Best.com) Is one of the “Top 25 Most ‘Eventful’ Cities” (eventful.com) No. 1 for Open Space (percentage of parks and preserves) by a study of the Trust for Public land Top 50 Places to Live & Play, National Geographic Adventure One of top 20 Game-Changing Places to Live, Sunset Magazine list. Albuquerque was named one of the top hippest cities in the US by MoveHub via Insider Top 20 Greenest Cities in the U.S. by Forbes.com and One of America’s 50 Greenest Cities, Popular Science 3rd Fittest City in the United States, Men’s Fitness No. 16 of America’s 50 Greenest Cities by Popular Science on popsci.com No. 6 Best Place for Business and Careers by Forbes Magazine, Ranked in the Top Towns for empty nesters by Forbes.com 3rd Best City for Biking, Bicycling Magazine Paseo Del Bosque Trail Ranked No. 1 for Top 10 City Bike Rides by Sunset Magazine Among America’s Most Walkable neighborhoods in the Top 40 U.S. Cities by walkscore.com These and more at itsatrip.org
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MARKETS THIS IS DOWNTOWN ALBUQUERQUE T H E D OW N TOW N GR OWE R S ’ M A R K E T attracts nearly half a million visitors each year, and features live music and locallygrown produce, hand-crafted goods, arts, and more. In 2017, The Downtown Growers’ Market entered its 21st year and completed its longest season, featuring 202 vendors, of which 71 were growers. The season brought in over $1 million dollars to the local economy, $36,261 coming from EBT sales and $41,587 from Double Up Food Buck sales. The Market supported art and educational programs throughout the year. Art programs included hosting non-profits such Artstreet and OFFCenter Community Arts Project and funding live, local musicians at every market. The Market continued to support green initiatives, nonprofit advocacy, and Yoga in the Park during its open hours. It also hosted non-profits throughout the year including Learners Chess, Animal Protection of New Mexico, Dar a Luz Birth Center, and Desert Paws Animal Rescue. Thanks to a partnership with Boese Brothers, the market was able to extend its season into December, bringing the growers’ abundance to our tables into the holiday season. Overall, the Market showed that it is a vibrant community asset to Downtown, generating over 75,000 customers throughout the year. (downtowngrowers.org)
23 T H E R A I L YA RDS MARKET i s a week l y e v e n t h e l d i n o n e o f A l b uq uerq ue’s hi stori c treasu res - t h e o l d Ra i l Ya rds in B arelas. T he Yards, w hi c h once e m pl o ye d 2 5 % o f A l b uq uerq ue’s w ork ers, shu t down i n t h e 1 9 5 0 ’ s . I n 2 0 1 3 , a h a n d f ul o f c ommu ni ty members we re i n s pi re d by t h e s i t e ’ s h isto ry and beau ty to c reate a we e k l y s h o wca s e o f t he f oo d , art, and mu si c that N e w M e x i ca n s h o l d m o s t d e a r. To d ay, the mark et showc as e s a di v e r s e a r r a y o f a g r icultural, arti sanal , c u l i nary , an d a r t i s t i c t r a di t i o n s, a n d p rov id es vi si tors wi th i nte r a ct i v e e du ca t i o n a l e x perien ces. E very Su nday , l oc al c re a t o r s ca n be fo u n d un d e r on e h ist ori c roof. A t t he m arket, al l these aspec t of N e w M e x i co ’ s r i ch cult u re can b e seen, heard, tasted , a n d e n j o ye d i n o n e p la ce. Lo cated i n the heart of A l bu qu e rqu e ’ s o l de st n e ig h b o r h oo d s , Barel as, the mark e t ’ s l o ca t i o n h a s i t s o w n sen se o f hi story and heri tag e. T h e m a r k e t ’ s di v e r s i t y a t t r act s b ot h consi stent l oc al s and cu r i o u s t o u r i s t s e v e r y w e e k, h ost in g 2,000- 5,000 vi si tors w e e k l y, a n d o v e r 1 0 0 ,0 0 a n n ually. T h e Rai l Yards si te i s w i thi n wa l k i n g di st a n ce o f t h e C iv ic Plaz a, rai l and bu s stati on s , a n d a l l t h e o t h e r a m e n ities o ur Dow ntown has to of f e r. T h e seaso n al e vent benefi ts l oc a l gro we r s, e du ca t o r s , a r t i s a n s, m us i c i ans, c hi l dren, a n d a l l co m m u n i t y m e mb ers at t endi ng the mark et. Th e 2 0 1 4 s e a s o n h o s t e d o v e r 1 1 5 , 0 0 0 a ttendees and the 2 0 1 7 se a so n bo l st e re d o v e r $ 1 M in annu al sal es. The mar k e t pro v i de s 1 5 + s t a f f p o s ition s, h eal thy food opti ons fo r A l bu qu e rqu e , EBT us a ge f or lo w-i nc ome attendees, o ppo r t u n i t i e s fo r o v e r 1 5 0 lo cal en t repreneu rs, and i ntera ct i v e spa ce s wh e re 7 0 + ed ucato rs and heal ers pres e n t di v e r s e l e a r n i n g e x perien ces.
LIVE | WORK | PLAY H O U S IN G As of December 2017, the median home value is $202,200. Home values have gone up 8.7% over the past year and are predicted to rise 3.6% within the next year. Downtown has added significantly to its housing stock within the last year: recent developments at 517 Gold, the Anasazi, Casitas de Colores, 505 Central, and the Imperial Building Apartments, among others, have added to this inventory. (zillow.com; census.gov)
COMMUT E & T RA NS P ORTAT I ON Albuquerque was ranked the “13th Best Commute City in the Nation”, and the average commute is 25 minutes (abq.org.) The downtown area is also the most walkable neighborhood anywhere in Albuquerque, with the going up from 65 last year, to 85 this year (walkscore.com.) Public transit abounds, and the “D” ride offers free transit downtown. The RailRunner has a downtown station and connects riders from Santa Fe all the way to Belen. HE A LT H CA RE Within 2 miles of downtown are 5 hospitals and 6 health care centers, including The University of New Mexico Medical Center, the only Level 1 Trauma Center in the state.
C O S T O F LIVIN G According to Albuquerque Economic Development, the cost of living composite index is 94.1, well under the national average. (Comparatively, Boston stands at 145.7 and Denver stands at 112.1.) Reasonable housing costs and general prices made the city one of Salary. com’s “Top Places to Build Wealth.” (abq.org)
CHI LDRE N Downtown is home to five preschools and eight public schools, including acclaimed Amy Biehl High School and the dual-language Coronado Elementary School. Warehouse 508 is Albuquerque’s Youth Art and Entertainment Center and offers a safe, structured and supervised facility to young adults with programming and events that are youth focused.
25 HIG HE R E D U C ATI O N The Albuquerque area is home to more than 60,000 enrolled college students and 29 percent of the metro population has a bachelor’s degree or higher (32 percent of persons 25 or older). New Mexico has one of the highest concentration of Ph.D.s in the nation. All resident New Mexican high school students with at least a 2.5 out of 4.0 grade point average are eligible for a New Mexico Lottery Scholarship, which pays for a percentage of a student’s state college/ university tuition fee. The scholarship is funded by a New Mexico Lottery program in which 100 percent of lottery net proceeds go to the Lottery Tuition Fund. Only two miles away from the downtown core are The Univeristy of New Mexico and Central New Mexico Community College (CNM). The University of New Mexico (UNM) has more than 27,000 students at its 600acre Albuquerque campus. UNM offers bachelor’s degrees in more than 87 accredited disciplines, master’s degrees in 72 fields and doctoral degrees in 38 areas, as well as degrees in law and medicine. UNM is a nationally recognized Class I research institution.
Central New Mexico Community College (CNM) has transitioned from a trade school to a community college and become the second largest educational institution in New Mexico. More than 26,000 students take advantage of CNM’s certifcate programs, associate degrees, and continuing education offering. Today CNM offers certificate and degree programs in more than 100 areas in Applied Technologies (abq.org) 64 percent of people over the age of 16 within a one-mile radius of the downtown core have a higher level of education with either some college, a Bachelors, Graduate or Professional Degree. (esri.com)
LIVE | WORK | PLAY
MAJ OR E M P L OY E R S The City of Albuquerque, County of Bernalillo, and other State and Federal offices employ nearly 14% of the downtown core workforce. In addition, the following employers and industries are located downtown: • CenturyLink • Social Security Administration • Molina • InnovateABQ • PNM, • Over 100 law offices within a 1/2 mile • Headquarters of the McCune Foundation, The Kellog Foundation, the Albuquerque Community Foundation, Geltmore, LLC, and Albuquerque Business First • Technology sector, including data storage facilities • Services industry, including legal, hospitality, & health sectors, that account for over 45% of downtown employees
BAN KIN G Downtown is the financial center of the State, with Bank of Albuquerque, Wells Fargo, Compass BBVA, Bank of America, New Mexico Bank & Trust, Bank of the West, Sunrise Bank, US Bank, and US New Mexico Federal Credit Union branch locations and headquarters located downtown. AL BU Q U ER Q U E C O N VEN TI ON CE NT E R Located in the heart of downtown and only 5 miles from the airport, the Convention Center completed a $20 million face lift in 2014. The 167,000 total square foot facility can accommodate groups as small as 10 or as large as 2,300, supported by 1,300 hotel rooms and 15,000 parking spaces within walking distance. (albuquerquecc.com) AL BU Q U ER Q U E C O N VEN TI ON & V I S I TORS B URE A U The downtown-headquartered ACVB is your resource for locating attractions, finding the perfect restaurant, or securing accommodations. (itsatrip.org)
27 TH E FI L M IN D U STRY New Mexico offers outstanding incentives to production companies, which has helped generate broad interest in the state for movie and television filming. Albuquerque Studios, located 10 minutes south of downtown, is a 28-acre, $74 million state-of-the-art motion picture and television production facility with 8 sound stages and 168,000 square feet of space. 1-25 Studios has 6 sound stages, 20,000 square feet of newly renovated production, office, and executive office space, and additional amenities. Filming directly impacts New Mexico’s economy. Total economic output generated from production spending alone is estimated at $1.53 billion. In addition, production activity generated a further $591.5 million in indirect and induced spending. Film and television production activity generated an additional $505.9 million in Gross Domestic Product (GDP) through indirect and induced impacts. Total employment created from production spending is estimated at 15,848 full-time equivalent employee positions. Film production activity has produced an estimated $0.43 in state and local taxes ($0.33 in state taxes and $0.10 in local taxes) for each dollar in production incentive granted. And, many of these films and TV shows are filmed right in downtown Albuquerque. (nmfilm.com)
LIVE | WORK | PLAY HOSPI TA L I T Y With 28% of the City’s hotel inventory, downtown captures the hotel market. AirBnB and VRBO are also popular options in the area. •
Ho t e l A n d a luz : LEED-Gold certified; 107 rooms & rooftop bar; originally built by Conrad Hilton in 1939 & renovated in 2008. (hotelandaluz.com)
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Do u b le Tr e e by H i l t o n H o t e l : 295 rooms; adjacency to Convention Center; flexible meeting space that accommodates up to 300 people. (doubletree3.hilton.com)
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Hya t t R e g e n cy : Steps from the Convention Center; 400-rooms; Forque restaurant and rooftop pool. (albuquerque.hyatt.com)
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Ho t e l B lu e : Renovated in 2008; 140-rooms; free shuttle service to Convention Center, airport, train station, & Old Town. (thehotelblue.com)
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Ho t e l P a r q C e n tr a l : 74-bed, pet-friendly boutiqe hotel features 5,300 sq. ft. of flexible meeting space and rooftop lounge. (hotelpaqcentral.com)
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Do w n t o w n H i s to r i c Be d & B r ea k fas ts of A lb u q u e r q u e , Guest rooms and cottages in a historic setting. (albuquerquebedandbreakfasts.com)
LO C AL ATTR AC TIO N S & EVEN TS Downtown is just one mile away from the founding area of Old Town, filled with boutiques, restaurants, and the oldest building in the City, San Felipe de Neri Church, built in 1793. The BioPark and Zoo, Rio Grande, and adjoining Bosque are all accessible via bike from downtown. Ten minutes north is the world’s longest tram that rides up to Sandia Peak, the city’s highest point at 10,678 feet. The International Balloon Fiesta attracts more than 600 balloonists and is the largest ballooning event on the planet. C U ISIN E Downtown is home to over 100 restaurants, a vast majority of them locally-owned and featuring a variety of cuisines. New Mexicans pride themselves on the chile that infuses the regional cuisine. We are, after all, the only state with an official question - ‘red or green?’ - that refers to your chile of choice.
29 O U T D OOR S PA CE Albuquerque is second only to Anchorage, Alaska for open space per capita, with nearly 29,000 acres of city land as open space. Petroglyph National Monument features stone drawings on volcanic rock of ancient peoples. The Sandia Mountains are a haven for hiking, mountain biking, running, skiing, and rock climbing. In downtown, there are 12 public parks, 2 dog parks, Rio Grande Valley State Park, Wells Park Community Center, 2 public pools, and a bike boulevard connecting them all. Just ten minutes south is the Valle de Oro Wildlife Refuge, offering 570 acres of protected land for the enjoyment of the public in the state’s most densely populated area. (cabq.gov)
THE ARTS & CULTURAL DISTRICT BE LE D B Y C R E ATI V E FO R C E S In its inaugural year of operations, the Arts & Cultural District has been hard at work supporting creative enterprise in the downtown area, thanks to our partnership with the City of Albuquerque’s Economic Development and Cultural Services departments, the New Mexico Department of Economic Development, the New Mexico Arts Commission, and the New Mexico Historic Preservation Division, and to the artists and creative entrepreneurs whose energy drives the district! To orient visitors and Burqueños alike, the district developed an interactive map of shops, breweries, restaurants, and other attractions in the area to encourage patronage at a variety of downtown businesses. The district also organized and hosted over 20 Coffee + Creatives meetings in 2017 as a way for creative individuals and businesses to share funding opportunities, resources, and feedback. And, looking forward to 2018, the District will administer a National Endowment for the Arts’ Our Town grant providing low cost and/or free arts programming throughout the Downtown area, through a program called Feed the Heart. The district will also release a recently conducted a survey of downtown entrepreneurs and businesses. Data from over 300 respondents will be compiled and released in 2018 as a resource for creative individuals and businesses to use in grant applications and business plans. Learn more at downtownacd.org
MAP: HISTORIC BUILDINGS WALKING TOUR
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MAP: COFFEE & BEER GUIDE
33 BEER+COFFEE Downtown is home to 14 breweries and 15 coffee shops. These mini-economic development generators serve as a meeting space for locals. We love these entrepreneurs that are willing to invest in giving the community a second home where they can get energized for work in the morning or relax with friends and family at the end of the day. The majority showcase local art, offer live entertainment, and embrace the local culture. Most coffee shops carry locally roasted beans and get their breakfast burritos, sandwiches, fruit and pastries from local vendors. Breweries usually have a different food truck parked up front to feed the hungry, are always family friendly, and dogfriendly when possible. They also host movie, trivia, charity, shelter-adopting, painting and yoga nights!
MAP: CONTEMPORARY ARTS WALKING TOUR
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2017 HIGHLIGHTS New Businesses featured by DowntownABQ MainStreet’s Weekly Newsletter in 2017: • Maya Cuisine
• InnovateABQ
• Gravitate
• Salon Jerome
• Stay True Barbershop
• Homewise
• 505 Central
• Arts.y.Yoga
• Baker A + D
• Albuquerque City Drug
• Humble Coffee # 2
• Donovan Discovers
• QBrik’s
• Immastar Productions (pop-up shop)
• La Luna Bakery • OT Circus Gallery • Zullo’s Bistro • Red Planet Books & Comics • Etkie NEW BUSINESSES WE WELCOMED IN 2017 A warm welcome to all the local businesses that joined our greater downtown community in 2017 and are now helping us fulfill our mission to promote and support downtown’s economic vitality.
• Baca Boys Cafe • Brixens
• Relentless Nutrition • Salsa en la Bodega • Square One Fitness • Don Sushi • Paradise Club Vintage
ABOUT US
37 2017 EVENT HIGHLIGHTS We look back at and celebrate the events of 2017 that brought our community together, strengthening social relationships and truly making downtown feel vibrant. We also give thanks to all those whose hard work made these events possible! • Thousands of people packed Civic Plaza for the Women’s March, united in the determination to protect the civil liberties of vulnerable people across our nation. • There was a Really Really Free Market at Robinson park, where people freely gave away usable items and services. • 516 ARTS presented Cross Pollination, an exhibition about bees and others pollinators and their role in the world’s food supply, while also exploring the cross pollination of ideas in art and science. Thanks to this exhibit, Downtown is now graced by the murals of the Botanical Mural Project. • The New Mexico Magazine, Travel New Mexico, Visit Albuquerque, Hotel Andaluz, and the NM Railrunner hosted the #NMPhotoAdventure, an instagram event that received 1,000+ photo submissions, most of which were of downtown people and locations.
2017 HIGHLIGHTS
39 More 2017 Event Highlights;
• 24 West Downtown Businesses banned together and pledged to donate $25,000 to New Day through their event GetDown@ WestDown to help homeless youth. • Gatas y Vatas, an all-ages music festival held at the Fusion Forum, enabled solo women artists to push their own boundaries and those of their audience. • 508 Mural Fest, a free public art mural festival, was produced to unite and beautify our city while empowering our youth. It included 12 locations with over 25 muralists painting throughout the city with a focus on downtown. • TEDxABQ’s Main Event 2017 took the stage in the Convention Center’s Kiva Auditorium in the heart of Downtown, answering the question “What is the future that we want to create?” TEDxABQ also presented Women: Bridges, exploring the themes of bridge building, crossing, and burning, and what that means to the women of New Mexico. • The Downtown Block Party featured local arts organizations, artisans, live music, food trucks, craft beer and cider, and fun games like pool, badminton, and pinball. • SOMOS Albuquerque took over the heart of downtown with a day-long event featuring all things local, while celebrating philanthropy, sustainability, and creativity in our community. • The OFFCenter hosted the Folk Art Festival which turned Robinson park into a magical place where giant puppets parade, play music, and dance for children of all ages. • The 2017 Summer Season of Civic Plaza Presents: Abq Food Fridays, Movies on the Plaza, Yoga on the Plaza, the Kids Rock Festival and more, brought families and friends together from across the City to celebrate local food, music, and movies in the heart of Downtown.
ABOUT US We a re the DowntownABQ MainStreet Initiative, a community redevelopment organization that has been State-designated since 2008. Our mission is to promote and support downtown’s economic, social, and creative vitality through communitydriven projects and programs. A revitalized and vibrant downtown is a symbol of community economic health, local quality of life, pride, and community identity. Our work includes: • Promoting and supporting downtown’s economic, social and creative vitality including its image and appearance through advocacy, projects and business development. • Supporting local MainStreet projects in the City by providing economic development and design assistance, business consultation, and monitoring. • Ensuring progress in all areas of the Four Point Approach: Downtown Design, Economic Positioning, Promotion and Organization. • Providing support, advice and technical assistance to downtown property owners and tenants. • Attending, conducting, and/or sponsoring seminars and other educational programs concerning development, redevelopment and improvement of downtown areas. • Promoting and encouraging the implementation of more effective, comprehensive legislative and financing techniques and devices that will further the revitalization of downtown. • Providing a forum for citizens to share knowledge, experiences and problems for the purposes of developing programs which will better and address issues related to downtown. • Increasing public awareness of the benefits of having an economically strong downtown. • Facilitating communication and co-operation between all sectors representing downtown, including, but not limited to, business, service and retail, property owners, public institutions, residents, and the public. Image Credits: Zendo, Sidetrack, Java Joes, Bow and Arrow, AirBnB, Zillow, TEDxABQ, Etkie, City of Albuquerque, Silver Moon Lodge, Boiler Monkey, Esri, Levitated, One Central, David Silverman, Damian Lopez-Gaston, and 516 ARTS
F I N D U S AT 115 Gold Avenue SW, Suite 205 Albuquerque, New Mexico 87102 info@abqmainstreet.org abqmainstreet.org P (505) 247-2272 Like us On Facebook @DowntownABQ.MainStreet Follow us on Twitter @DowntownABQ Follow us on Instagram @downtown.mainstreet