ROOMS WITH A VIEW

Down­town’s One Cen­tral opens for oc­cu­pancy this week­end

Albuquerque Journal - - FRONT PAGE - BY STEVE SINOVIC JOUR­NAL STAFF WRITER

The first res­i­dents will be mov­ing in this week­end at One Cen­tral, the Down­town mixed-use project that broke ground over a year ago.

Nearly one-fourth of the 68 apart­ments have been leased, said David Stroud, One Cen­tral’s di­rec­tor of op­er­a­tions and mar­ket­ing. With a rib­bon-cut­ting slated for to­day, con­struc­tion work­ers were busy Wed­nes­day with myr­iad tasks: in­stalling light­ing, vac­u­um­ing con­struc­tion dust and mak­ing the apart­ments ship-shape for the new tenants.

Stu­dio apart­ments, which fea­ture floor-to-ceil­ing win­dows, are the most pop­u­lar units so far, said Stroud, es­pe­cially ones with views of the

San­dia Moun­tains and the train tracks of the Al­varado Trans­porta­tion Cen­ter across the street. The tenants are a good mix, and in­clude UNM pro­fes­sors, hospi­tal work­ers and young pro­fes­sion­als work­ing Down­town. The build­ing comes with a fit­ness cen­ter, gam­ing space and me­dia room.

On the ground level, sev­eral tenants will soon be set­ting up shop. Stroud said one is Deep Space Cof­fee, which will re­lo­cate from its cur­rent site at 504 Cen­tral SW. Two other tenants will be restau­rants, he added.

When the project was ap­proved al­most two years ago, de­vel­op­ers said One Cen­tral, in ad­di­tion to the apart­ments, would in­clude 44,000 square feet of street-level en­ter­tain­ment and re­tail space. A bowl­ing al­ley/pub on the ground level is still in the works, Stroud said. With thick con­crete floors and in­su­la­tion, res­i­dents on the top floors won’t hear a thing be­low, he said.

One Cen­tral cost an es­ti­mated $40 mil­lion to de­velop. The city chipped in $17.5 mil­lion — most of it com­ing from lodgers’ tax col­lec­tions — plus land val­ued at $1.4 mil­lion, ac­count­ing for just un­der $19 mil­lion. Ber­nalillo County also ap­proved an in­dus­trial rev­enue bond pack­age that in­cludes prop­erty and gross re­ceipts tax breaks.

GREG SORBER/JOUR­NAL

The One Cen­tral mixed-use de­vel­op­ment Down­town, with apart­ments, re­tail and street-level en­ter­tain­ment venues, is nearly ready to open. A rib­bon-cut­ting is planned for to­day,

A worker puts the fin­ish­ing touches on a stu­dio apart­ment on the north­east cor­ner of the One Cen­tral mixed-use de­vel­op­ment in Down­town in prepa­ra­tion for the first res­i­dents who will be­gin mov­ing in this week­end.

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