Rio Rancho, City of Vision -A Real Estate Success

Today I listened to an abbreviated history of http://www.cabq.gov/aes/s2rr.html. In brief, he said that Rio Rancho, the fastest growing city in the state of New Mexico was started by a group of con artists who sold parcels of vacant, undeveloped land to unsuspecting people in far away cities (mainly New York) who had no idea they were buying a piece of the City of Vision.

From the sale of those parcels and the construction of the first homes in the early sixties, building began in earnest in the seventies and picked up speed during the last five years. From a city of about 100 in the 60's Rio Rancho has grown to be a city of some 70,000 to 80,000 people, and is expected to become a competitor in size with Albuquerque in the near future. From vast, undeveloped spaces Rio Rancho is being rapidly transformed into a vibrant city of thousands. City of Rio Rancho - Official Site.

One consequence of growth is the relocation of the city center several miles north of its original site. The bright new state-of-the-art City Hall now has as its only neighbor, the arena, Santa Ana Star Center. The vibrant, city center that the area is destined to become is now only a vision.

But Rio Rancho is not wanting for people and neighborhoods. Every quadrant except perhaps the southwest has communities already built or being built. Southeast Rio Rancho, where some of the first homes were built some 30 to 35 years ago (Rolling Hills, Country Club) along with a golf course is still a charming part of the city with detached homes, condos, and apartments. These older communities are now losing their isolation as new developments like Cabezon and others fill out the wide open spaces that separated them. The borders between Albuquerque and Rio are becoming indistinguishable as developments on the edges of each city merge.

On the farthest northwestern edge of the city, Mariposa, a master planned development of high-end homes is under development. When the new city center is complete, Mariposa, will be a close suburb.

To the northeast, current new developments on the edge of Bernalillo link the older River's Edge communities to ongoing developments (Enchanted Hills) bordering Highway 550. Some of the homes are part of much needed planned, adult communities. Others may in the long run, turn out to be bedroom communities for Santa Fe and Albuquerque. Interstate 25 is close by; Albuquerque is running out of room; and Santa Fe has less affordable housing.

Otherwise, residential communities are being built in small and not so small pockets all across the wide open spaces of Rio Rancho. Communities already completed include North Hills and High Resort. Loma Colorado, a Pulte project complementary to Mariposa, in the northwest, is underway in the mid-north. The only quadrant of the city that is largely untouched by construction is the southwest. Even there, the earth movers can't be too far away. In the meantime, potential residents relocating to Rio Rancho have many choices of homes and areas. They may choose new or older homes (none older than 35-40 years) custom or tract, and in a variety of neighborhoods knowing the the vision is not complete.

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