ALBUQUERQUE, N.M. (KRQE) – The northwest corner of University and Central was once home to the University of New Mexico’s Parking and Transportation Services, but for years it has sat vacant. “We were experiencing what most vacant buildings around here experience, people breaking in, vandalism,” Kelly Ward, the Executive Director for Lobo Development Corporation said.

But as of today, the parking building is gone and new plans are on the horizon for the 3.8 acres from University Boulevard down to Ash Street. “We have an opportunity, I think, in this economy, in this moment in Albuquerque, to make something happen along here,” Ward said.

Right now, they’re in the very beginning stages, figuring out what the site can support. Ideas of housing, retail, and even office space are floating around for public use. These are the same ideas they had for this spot more than a decade ago. “We re-envisioned this site around 2009 from the University’s perspective and their master plan for their properties,” Ward said.

There are former site plans Lobo Development made back in 2012 that never got off the ground. Ward didn’t have an answer as to why those plans never came to fruition, but he says this time should be different. With the site – whatever that looks like – up and running in three to five years.

“No one is going to see anything brand new here on this site for some time, so we still have to do a lot of work, a lot of real planning work,” Ward said. After the developers gather community input and finalize their plans, they will go to the University’s Board of Regents for approval.