new albuquerque hotel project may get funding

A project that will see the construction of a new hotel on a mostly vacant site along Central Avenue could be on the verge of securing significant incentives.
The hotel will go up across the street from the Presbyterian Hospital and will be connected to that building via a sky bridge.
To be branded as a Marriott Springhill Suites, the new hotel is part of a larger project seeing the mixed-use development of five city blocks.
According to documents earlier submitted to Albuquerque’s Environmental Planning Commission, the larger project was described as one that will “respect the existing urban neighborhood values, surrounding development, and Central Avenue, creating and enhancing the urban environment.”
Titan Development, an Albuquerque-based real estate developer, is hoping to receive some $26 million in redevelopment bonds, as well as a tax abatement from the city that could be worth up to $3.2 million for the hotel project.
The 118-room hotel, earlier proposed at 122 rooms, will stand six stories tall with the third floor of the structure to be used by the Ronald McDonald House Charities of New Mexico.
The sky bridge will feed into the structure’s second floor, which will also serve as the hotel’s lobby.
Located just one block to the east of Interstate 25 and a half a block from the iconic Crossroads Motel, the immediate site off of Central was formerly the home of a gas station which has since been demolished.
Members of the Albuquerque City Council may vote on the proposed incentives package during their upcoming January 23 meeting.

By Garry Boulard

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