ALBUQUERQUE, N.M. (KRQE) – After years of dreams about building out a bustling ”stadium district” in the south University of New Mexico campus, they are now one step closer to their vision. UNM and the “Lobo Development Corp” have spent more time outlining promises for the land they own near the Sunport.
That vision for more shops, apartments, and eateries is finally getting some traction. “Build a Raisin’ Canes store on Gibson, and that will be a start of some of the development going on,” said David Campbell, executive director of Lobo Development.
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Raisin’ Canes is expected to be built next to the city’s fire station and according to the developer, should open next year. The development is part of a new funding structure that will help UNM pay for upgrades on the land. “Not only does it bring people to the area but it also brings taxes, to the tax increment district and its those taxes a portion that comes back to help fund the expensive infrastructure,” said Campbell.
Those tax funds will help UNM pay for road upgrades, utilities, and new sidewalks in the South Campus area. “We also anticipate having commercial development there that provide needed community services, shopping center, perhaps grocery stores, department stores, that kind of thing,” he said.
They’re also looking at building more apartments nearby.