Around $2.4 million in federal funding is being made available to the Taos Pueblo for the construction of a long-planned heritage center. The funding is coming through the Economic Development Administration under the auspices of the Department of Commerce and will be added to funding that the project has already secured via the State of New Mexico. The EDA is tasked with providing support to communities defined as economically distressed. Through the Coronavirus Aid, Relief, and Economic Security Act, the EDA has received up to $1.5 billion in funding for communities dealing with the pandemic. In announcing the award for the Taos Pueblo project, Commerce Secretary Gina Raimondo said President Biden is “committed to supporting Tribal communities in their recovery from the coronavirus pandemic.” Additional funding to the tune of $2 million has also been secured for the construction of a vocational training complex at the Picuris Pueblo. The Taos Pueblo Heritage Center is slated to go up on a more than 14-acre site just to the north of the Taos Plaza. The project in its entirety will include a hotel, plaza, and learning spaces. By Garry Boulard
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A new survey conducted by the Washington-based Associated Builders and Contractors shows overwhelming opposition on the part of contractors to federally imposed project labor agreements. The numbers could not get much greater: according to the survey, 98% of responding contractors said they were against such agreements, many arguing that they result in increased project costs. Earlier this year President Biden signed an executive order requiring the imposition of project labor agreements in all federal building contracts with a dollar value of $35 million or more. Labor unions have generally supported such agreements, with the AFL-CIO contending that they ultimately protect taxpayers by “eliminating costly delays due to labor conflicts or shortages of skilled workers.” Respondents to the Associated Builders and Contractors survey, however, said they thought such agreements decrease economy and efficiency in government contracting, while also reducing competition from subcontractors. A nearly unanimous 99% of respondents declared that they were not likely to bid on projects governed by those agreements. In a statement, Ben Brubeck, vice president of regulatory, labor and state affairs with ABC, said the agreement mandates “undermine inclusive workforce development, hiring and small business subcontracting practices and hinder the ability of the best contractors to safely deliver taxpayer-funded construction projects on time and on budget.” It is thought that Biden’s project labor agreements order could ultimately impact up to $262 billion in federal projects. The agreements historically tend to see new life depending upon who is in the White House: President George W. Bush signed an executive order prohibiting agencies from requiring them, an order that was subsequently revoked by President Barak Obama. Although President Trump never officially rescinded Obama’s order, he voiced opposition to them. No such agreements were imposed during the four years of Trump administration. By Garry Boulard Work could begin late next year on a massive project in Littleton, Colorado, that will see the building of both residential and commercial structures. The project, to go up on a currently vacant 33-acre site in the 7700 blocks of Santa Fe Drive, belongs to Evergreen Dev Co, which has offices in Denver and has spearheaded large projects in both the Centennial State as well as Arizona. The planned RiverPark project is expected to cost as much as $200 million to fully develop. In an interview with the Denver Business Journal, Evergreen managing principal Tyler Carlson said the project has been reduced by about 10% from its original vision of 270 individual residential units, three retail spaces, and five restaurants. The project has now secured the unanimous approval of the Littleton Planning Commission. Involved in a multitude of projects, Evergreen began the process late last year of demolishing a former Sears department store at the Chapel Hills Mall in Colorado Springs and replacing it with a 300-unit housing complex to be called Overlook Briargate. Evergreen purchased that property for $5.7 million with plans to build a mix of one, two, and three-bedroom units, as well as a fitness center and clubhouse. If all goes according to plans, work on the RiverPark project could be completed sometime in 2025. By Garry Boulard A two-building project that will see the construction of just over 530 luxury apartments in Scottsdale has cleared a big hurdle. Members of the Scottsdale City Council have given their approval to what is being called Hazel & Azure, a project that will go up at 4605 N. Scottsdale Road and will include in excess of 14,000 square feet ground floor retail space. That approval follows on a thumbs up from the city’s Development Review Board in August. The project belongs to ZOM Living, which is headquartered in Orlando, Florida, and has undertaken similarly large residential projects in the Sunshine State, as well as both North and South Carolina, and Texas. The Hazel building part of the project will house just over 362 units to the northside of the site, with at least 13,000 square feet of commercial space. The Azure building will encompass 170 residential units and just under 1,000 feet of commercial space. The Azure building will also feature a rooftop swimming pool. If all goes as planned, work on the Hazel & Azure project should be underway by next spring. By Garry Boulard A new realtors survey indicates that despite reports of an upcoming recession in, perhaps, early 2023, some 68% believe that that recession most likely started this summer. The survey, conducted by the San Francisco-based Morrison Foerster law firm, also shows that an overwhelming nearly 76% of respondents thought that the national housing market has peaked and is now in a downward phase. In individual responses to the survey questions, respondents said they thought the upper end of the residential market has most likely either leveled off or declined, although prices are continuing to increase. At the same time, and showing the dynamic differences between the selling and renting markets, just over 69% of respondents disagreed with the question: “Do you think that the rental housing market in the U.S. has peaked and begun a downward phase?” In fact, just under 81% of respondents said they thought the multi-family apartment sector is still in an expansionary phase. Respondents were similarly bullish when asked if they thought the nation’s retail cycle has made a comeback from its pandemic doldrums, with 59% saying yes. Similarly, 74% said they thought the hospitality sector had “emerged from the bottom of the cycle.” In the area of commercial real estate, around 80% of respondents thought the market today is significantly worse than where it was a year ago; with 70% believing that things are only going to get worse in the next 12 months. By Garry Boulard A program that offers life-enhancing programs for adults may soon be upgrading and repurposing a retreat center that formerly belonged to the Archdiocese of Santa Fe. In early 2021, the Modern Elder Academy purchased for around $8 million land at the Saddlebag Ranch in Galisteo, with the goal of building both meeting and residential space for its students. The Saddlebag Ranch location is set to also serve as the group’s new headquarters. But now Modern Elder’s plans additionally call for the building of new dormitory space at the former Immaculate Heart of Mary Retreat and Conference Center, located at 50 Mount Carmel Road. That center, formerly a part of the Archdiocese of Santa Fe, was auctioned off in the spring of 2021 as part of the archdiocese’s bankruptcy proceedings. Modern Elder has announced plans to apply for a special use permit from the City of Santa Fe to build a 9,500 square foot structure at the Mount Carmel Road site. The group additionally wants to renovate some of the existing buildings at the site, while building new sidewalks on Camino de Cruz Blanca, which runs along the west side of the site. The Modern Elder Academy has already held one public input meeting regarding its plans for the former archdiocese property. Those plans will eventually be examined by the City of Santa Fe’s Historic Districts Review Board. Opening its first campus in 2018 in Baja California Sur, the Modern Elder Academy bills itself as the “world’s first midlife wisdom school,” described by Forbes magazine as a “boutique resort for midlife learning and reflection.” By Garry Boulard In a move to address what is thought to be a roughly 5,600-unit shortfall of affordable housing, the City of Las Cruces has placed on this fall’s ballot a question asking for $6 million to fund new housing projects. The ballot question will appear as a general obligation bond proposal and is one of four such bonds confronting Las Cruces voters in the November election. If approved, the $6 million will be used to leverage significantly larger funding coming out of both Santa Fe and Washington for new housing construction. The bond language more specifically says that the $6 million will be implemented to “provide resources to plan, design, construct, acquire, and preserve affordable housing” for residents classified as living in low to moderate income households. The bond funding will, as part of the city’s Affordable Housing Trust Fund, also be used to acquire needed land. In an interview with the Las Cruces Bulletin, Natalie Green, housing and neighborhood services manager with the City of Las Cruces, asserted that construction of such new housing could be characterized as a “catalyst for economic development.” Green added that the new housing construction will most likely occur at sites throughout the city. City officials have also said that they would like to see at least 300 new affordable housing units built and completed within the next three years. By Garry Boulard Gains made by women in the college-educated labor force just before and during the Covid 19 pandemic are remaining in place, according to a new survey just released by the Pew Research Center. As of the late spring of this year, women accounted for exactly 50.7% of the workforce with a college degree, a number that has been on the upside now for the last two years. Altogether, there are currently 31.3 million women, aged 25 and older, with at least a bachelor’s degree, up from 28 million in the spring of 2018. According to a release accompanying the Pew survey, the number of college-educated men, on the other hand, is now at 30.5 million, but their ranks “have not increased as quickly as those of women.” Even so, the actual number of college-educated men has gone up from 28.7 million in the last four years to 30.5 million. While the numbers for college-educated women clearly indicate progress, those with only some college, or none at all, have seen a decline of 4.6% in the last three years, while men in this category were down by 1.3%. The trend line of women receiving at least a bachelor’s degree has a long arc: according to the National Center for Education Statistics, in 1960 women made up 35% in this category. The number jumped to 43% by 1970 and has been above the 50% mark since 1981. By Garry Boulard A multi-story office building in the growing city of Centennial, Colorado, some 15 miles to the southeast of Denver, has been put on the market for $6.2 million. Built in 1982, the property at 9137 E. Mineral Circle, in a section of the city dotted with modern office buildings on sprawling manicured sites, is classified as a Class B space. Comprising just over 31,330 square feet, the structure known as Panorama Place sits on a just under 60,000 square foot tree-lined site and includes a spacious atrium. The structure houses the offices of the ERA New Age Real Estate Company and has also been the home to the Layendecker & Lemire law firm. Listed by the Denver-based Unique Properties realtors, the building additionally includes ground floor parking space. Office properties in Centennial, reflecting the city’s vibrant technical and professional services sectors, have been going for anywhere from $19 to $29 per square foot, with Class A office space making up the largest segment of the market. By Garry Boulard After nearly 6 years of litigation and controversy, the City of El Paso may be moving to a new stage in its effort to build a multi-purpose arena. In the fall of 2016, members of the El Paso City Council voted to approve the $180 million construction of what is officially called the Multi-Purpose Performing Arts and Entertainment District in a section of the city inhabited by the historic Duranguito neighborhood. Opposition to that plan from preservationists and community activists have seen the details of the project fought out in any number of local, regional and state courtrooms. Now, with some sources indicating that it could well cost upwards of $240 million or more to build the same facility, a new study is underway designed to review other potential sites for the arena. The study is being conducted by the San Francisco-based M. Arthur M. Gensler & Associates, which is exploring not just other locations for the arena, but how large the facility should be. That study is expected to be completed sometime early next year. By Garry Boulard |
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