ALBUQUERQUE, N.M. (KRQE) – Take a drive down Central from the river to the east end of Nob Hill and it’s new building after new building, all apartments.
The new spaces are going up left and right, allowing more people to call the heart of Albuquerque their home – so long as they renew their lease.
“With this new Generation Z that’s coming along, we’re finding that they’re well educated, they want to get really good jobs,” John Lopez, VP of the Greater Albuquerque Association of Realtors said. “They’ve kind of lived through this recession period, but I think there’s going to be a challenge of commitment.”
Lopez gave KRQE News 13 some insight into the seemingly endless rental construction along Route 66.
“The investors know real estate is still a great investment, so the real estate investors are building up these buildings, whether it be condos or apartment buildings,” Lopez said.
Aerial images from the city help showcase just how much the Central Corridor has changed since the turn of the millennium. The most notable changes are downtown, which Lopez says is really good for combating crime.
“That’s just going to make that whole particular area shine a lot better,” he said.
The developments include the Silver Moon Lodge, the Silver Gardens and the Imperial Building.
The Nob Hill area saw significant growth, too, and there’s only more to come, like the First and Central development, the newly opening Lobo Rainforest and the El Vado project. There’s even the Carlisle building, being rebuilt after it burned down earlier this year.
Don’t forget the massive Highlands development across from Presbyterian Hospital that will take up several city blocks.
“We have such a great city, we have so much to grow and part of a big city is we have to have that central corridor,” Lopez said.
Lopez says that even when it comes to home buyers, typically condos, along the Central corridor, it’s common that the condo owners will end up leasing out their homes.