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HomeNew Condos Coming to Town

New Condos Coming to Town

Who is Venture Corp? I don't know, but according to the Albuquerque Journal Business Outlook of 2/26/07 they are California developers who are on the verge of building 77,000 square feet of new commercial condo space on New Mexico's Albuquerque West Side. We have no pictures yet, but the designers sketch on the front page of the Business Outlook looks ritzy. The site for these condos is a prime area of high visibility near Eagle Ranch and Paradise Hills, a neighborhood of comfortable Taylor Ranch and Congress Heights homes.

I am excited about it for several reasons.

  • The Developers reputedly decided to proceed with the building of the condos because of the favorable news in Forbes magazine's that gave Albuquerque a high ranking as one of the Best Places for Business and Careers
  • Albuquerque West Side and Rio rancho had and continue to have rapid and even ritzy residential real estate development, as this headline about Rio Rancho purports http://albuquerque.bizjournals.com/albuquerque/stories/2007/02/19/story1.html,
  • with little thought it would appear, to creating commercial opportunities to support the residential growth. As a result, many west side dwellers need to drive to the east side to work. The condo units will begin to add office space and the process of providing job possibilities for people to live where they work. How clearly I remember someone telling me as a newcomer some years ago, "I have been living on the West Side for 15 years and despite all the development, I still can't find a job over here. After all these years, I still have to drive across the river to work."
  • Providing opportunities for people to work where they live will have substantial benefit not only for the West Side but the entire ABQ community. It will save time, free up roadways, diminish traffic congestion and pollution, and conserve energy.
  • According to the news item, the condos are designed with flex space but not heavy commercial or intensive ware housing likely to be incompatible with neighboring established residential areas.
Posted Tuesday Feb 27
(02/27/07 07:10PM) — Danny Smith

Things sound good in Albuquerque's economy! Which means jobs and home sales.

(02/27/07 11:20PM) — George Souto

Eloise, that is a lot of square footage.  How many Condo's is that??

(02/28/07 01:20AM) — Eloise Gift, New Mexico Real Estate

George,

You do pay attention! I can't believe I left out that pertinent information. The plan, as I understand it, is to build 35 commercial space condos.  The square footage is greater than a large Walmart, isn't it? Of course, unlike a Walmart, the condos won't look like a big box, (I hope). I mention Walmart because a lot of conversations are going on in the Greater Albuquerque area about the location of big boxes.  That will be another post.

(03/03/07 08:40PM) — Eloise Gift, New Mexico Real Estate

Mr. Eaves,

I am delighted that my blog found it's way to you and thrilled that you took the time to respond. Not only I, but my readers and the entire community of Active Rainers are well served by your taking the time to explain the project, and clarify my second hand information.

As you may have realized, we are excited that you are coming to Albuquerque and especially on the West Side. As Danny observed, you are contributiong more jobs, meaning for me, more home sales. In Keller Williams Realty, my company, we call such a happy occurence,  win-win. Thank you, Mr. President.

 I hope you will continue to visit us on Active Rain. I shall be following the development with interest.

George,

Here is an exhaustive answer to your question from a primary source. Ignore what you read everywhere else. This is the definitive explanation of Codos Coming to Town. We had a response form the president himself,of Venture Corporation.

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