Plans are expected to be submitted to the city of Rio Rancho this summer for the construction of an imaginative 65-acre village project geared for medical-related tenants.
The Health Village at Rio Rancho will go up next to the Presbyterian Rust Medical Center in the 2400 block of Unser Boulevard SE, and could ultimately cost upwards of more than $100 million to fully develop.
Beverly Hills, California-based Geringer Capital is proposing the project, which will place an emphasis on walkable space and will also include a grocery store, movie theater, and, possibly, a hotel.
A boutique real estate investor, Geringer Capital has developed a 394-unit Class A multifamily project called the Falls at Westover Hills in San Antonio, as well as a 136,000 square-foot office and warehouse for the baby product manufacturer Munchkin in North Hills, California.
Geringer Capital has long been interested in developing the Unser Boulevard site, which it purchased some 15 years ago.
By Garry Boulard
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