Location: Albuquerque, New Mexico
September 1, 2007
"In the past few years we’ve seen 40 to 50 homes sell at over $1 million, compared to none a decade ago," says Doug Vaughan of Christie’s Great Estates affiliate Vaughan Company Realtors. "The growth is there, but it’s gradual. Frankly, I’ve never seen such overall vibrancy in our market."
While most of Albuquerque’s tony enclaves are found either in the northeast, adjacent to the Sandia peaks, or across the Rio Grande on the west side of town, its overall building boom is a 360-degree proposition. And it promises to continue apace as demand for housing creeps north. California’s SunCal Development Company has big plans for its 2006 purchase of the 57,000-acre Atrisco Land Grant, while Forest City—the developers behind Denver’s conversion of the old Stapleton Airport into a residential neighborhood—is already underway with a 13,000-acre development plan near Albuquerque’s south mesa. The city’s metropolitan population is fast approaching 1 million, a figure it will likely surpass if it continues to lure new businesses as it has in recent years, thanks in no small part to having nabbed Forbes magazine’s crown as the top U.S. city for business and careers in May 2006.
"Besides Intel, we have brought in companies, such as [private aircraft manufacturer] Eclipse, and increasingly are welcoming leaders in the movie industry who not only want to shoot here, but are also looking at establishing headquarters for their more computer-intensive operations," says Terri Cole, president of the Greater Albuquerque Chamber of Commerce.
"As we grow, we are determined to maintain the quality of life we’ve all come to expect," continues Cole. "That means keeping a close watch on everything, from our schools to our transportation to our air quality." She also notes that the city has managed to preserve 28,000 acres of open space and create more than 80 miles of hiking and biking trails throughout the city. "Our newest push is to nurture what I call the ‘cool, hip crowd,’ meaning those entrepreneurs who are looking for a great city to work and live in while they pursue their dreams," Cole says.
Facts & Stats
On The Hunt: For guidance on finding what might suit you best in
the Albuquerque housing market, check in with experts such as 36-year veteran
Doug Vaughan of the Vaughan Company Realtors (www.vaughancompany.com,
505.797.1100) or new home construction specialist Linda DeVlieg of Coldwell
Banker Legacy (www.cblegacy.com, 505.440.7200). If you prefer to buy a plot
of New Mexico’s captivating land and build, try David McDonald of Steer Luxury
Homes (www.steercontractingservicellc.com, 505.334.1864) or David Waszak of
Waszak Custom Homes (www.waszakhomes.com, 505.250.7888). For a full listing of
area real estate agents contact the Realtors Association of New Mexico
(www.nmrealtor.com, 505.982.2442); for area builders try the Home Builders
Association of Central New Mexico (www.hbacnm.com, 505.344.3294).
A Bit of Culture: While Santa Fe may be famous for its surrounding Native
American Pueblos, Albuquerque can steal just as much of your time and attention
with an array of cultural attractions, including the Albuquerque Museum of Art
and History (www.cabq.gov/museum, 505.243.7255) and the National
Hispanic Cultural Center (www.nhccnm.org, 505.246.2261). For a touch of
history, hop in your car and drive to Sky City at Acoma (www.skycity.com,
888.759.2489). A stunning and still-vibrant community of Native Americans call
this mesa top home, and offer a glimpse at a way of life that has long since
receded into history. In fact, it’s billed as the oldest continually inhabited
city in the U.S. For more cultural information, contact the Greater Albuquerque
Chamber of Commerce (www.abqchamber.com, 505.764.3700) or the Albuquerque
Convention and Visitors Bureau (www.itsatrip.com, 800.284.2282).
advertisement
