80-acre site will house aviation and aerospace related industry,
high tech research and development and retail
ALBUQUERQUE, NM – Today, the Albuquerque International Sunport broke ground on a project that will eventually be home to aviation and aerospace businesses, high tech companies and even some retail. The Aviation Center of Excellence, or ACE, is the centerpiece of a new development known as Destination Sunport that also features “The Landing”, a 10-acre strip along Gibson Boulevard that will be home to retail businesses.
“This development comes in the midst of the Sunport completing the rezoning of our Foreign Trade Zone status to include a larger section of the state and while we await the results of our Transit Oriented Development Study,” said Mayor Richard J. Berry. “With the development of this diverse site, we aim to increase that economic impact and be a leader in the aviation and aerospace industry in our region.”
The $8 million project is on the site of the former north/south runway, Runway 17-35, that was decommissioned in 2012 after decades of use. The project will be paid for through the airport capital program, with no use of general fund money or no new debt being issued. Tenants for the development will have a variety of options including simple ground leases to built-to-suit facilities. The sites will be eligible for new market tax credits, are not subject to impact fees or property taxes and can be designated as foreign trade zones.
Molzen Corbin provided the design and engineering for the site and the contractor for the initial demolition phase is Guzman Construction Solutions. Contractors for the final two phases will be selected in the coming months and the site should be ready for tenants to begin construction of facilities by November of this year.
Since 2009, the Sunport has added three new airlines with service to three new destinations and expanded options to four existing destinations, which has ultimately led to positive passenger growth in 2016. During this same period, the Sunport has remained fiscally responsible, maintained one of the highest bond ratings in the industry for an airport of its size and renovated the entire post-security area of the terminal. Two weeks ago, a major renovation project to the pre-security portion of the terminal started to improve the passenger and visitor experience, with completion scheduled in 2018.