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Lobo Village one step closer to expansion
UNM Board of Regents to meet Tuesday for approval
Updated: Tuesday, 11 Dec 2012, 10:41 AM MST
Published : Tuesday, 11 Dec 2012, 7:39 AM MST
ALBUQUERQUE (KRQE) - The UNM Board of Regents is expected to meet on Tuesday to approve the proposed deal which will develop about 50 acres around UNM's Lobo Village in Southeast Albuquerque.
UNM's Finance and Facilities Committee unanimously approved the plan last week. Now the South Campus Master Development Agreement as it's called will go before regents today.
In an article from Tuesday's Albuquerque Journal, it says the entire price tag for the projects haven't been set yet because they haven't determined the value of the lease. That's why the final approval was put off and passed along to vote by the full UNM Board of Regents.
The different properties surround the Lobo Village just east of Interstate 25 along Avenida Cesar Chavez.
The university has looked into developing this area since 2007, but it was delayed because the economy tanked the following year.
Some of the early plans from Fairmount Properties, the company which plans to build on the vacant land, include a 6,500 square foot restaurant and 22,000 square feet of shops.
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