February 17, 2017 – Today, Mayor Berry announced the significant growth along Central Avenue, noting that projects in excess of $300 million in building permit value have been announced since the Albuquerque Rapid Transit (ART) project went into Project Development in 2014. ART is currently at 20 percent construction completion, and Central Avenue is already experiencing substantial growth in economic development from multi-story new construction to simple remodels.
Prior to the beginning of the ART project, a Center for Neighborhood Technology’s analysis projected ART would lead to $2 billion in new real estate investment in the 10 years following ART’s ground breaking. The ART project team is tracking transit-oriented development in similar fashion as the Cleveland’s Healthline.
“The changes along the ART corridor are indicative of the type of growth we expect to continue seeing throughout ART construction and long after the project is finished,” said Mayor Berry. “I applaud the business community for the major projects we are seeing on Central, but equally important is the community of local small business who are doing everything from remodeling to opening new businesses. All of these efforts showcase a spirit of commitment to being a part of Albuquerque’s future along the transit corridor of Central Avenue. We are on our way to $2 billion, and we’re looking forward to continual growth for the City of Albuquerque.”
Speaking on behalf of The Highlands, a development being built by Titan Development and Maestas Development Group across from Presbyterian Hospital, Ben Spencer said, “Our five-block redevelopment is centered on a pedestrian experience with wide sidewalks, street furniture, art and beautiful streetscapes. A key selling point of the development for both our residents and people visiting the community is access to ABQ Rapid Transit, with the Cedar Street Station right at our door step.”
For more information on businesses along the ART corridor, visit http://www.brtabq.com/BusinessPromotions. People can also get additional information on the ART project’s progression at BRTABQ.com or by calling 505-398-4ART (4278).