ALBUQUERQUE, N.M. (KRQE) – The Albuquerque City Council is expected to vote on a plan Monday to finally develop an empty lot south of UNM’s baseball fields.
Right now, UNM’s South Campus along I-25 just north of Gibson doesn’t have much development outside of Isotopes Stadium, a tech park, and some student living. But Albuquerque City Councilors Isaac Benton and Pat Davis want to bring these deserted lots back to life.
The mayor is proposing a Tax Increment Development District with UNM’s Lobo Development. That means future tax revenues from the stores or buildings that could be going up will help pay back the costs to build them.
“The city would get some good development in the area that would help revitalize, and help the neighborhoods in the area more than anything,” said Benton.
This would be the first economic development partnership between the city and UNM.