New Mexico ranks high in construction job growth
Albuquerque, Santa Fe in top 25 for urban area development employment
Santa Fe and Albuquerque were among the leading cities in year-to-year construction job growth by percentage as measured in May, the Associated General Contractors of America reported.
Albuquerque and Santa Fe both ranked in the top 25 among 358 metropolitan areas and New Mexico ranked No. 7 month-to-month from April to May in percentage growth of construction jobs. The state now has 52,900 construction jobs.
Santa Fe ranked No. 22 with a 10 percent increase from May 2021 to May 2022. Albuquerque ranked No. 17 with an 11 percent gain.
Cheyenne, Wyo., Decatur, Ill., and Lawton, Okla., had top job growth at 35, 21 and 20 percent, respectively.
Santa Fe and Albuquerque in recent years have not appeared together in the top 25.
Santa Fe ranked No. 7 in November 2020 and No. 14 in October 2020 but often ranks in the 300s.
Albuquerque was as high as No. 4 in September 2021 and No. 7 in August 2021 but generally is in the 100s.
New Mexico ranked No. 2 in March, with the state routinely varying anywhere from the top 10 to the 40s.
Construction job numbers can vary widely depending on large projects starting or ending if there are not sustained major projects.
Apartments have been the construction driver in Santa Fe for the past four years with more than 20 projects undertaken.
“I think there is a lot of multifamily [projects] finally coming to the construction stage,” said Miles Conway, executive officer at Santa Fe Area Home Builders Association. “It takes a long time to get construction projects together.”
It has taken two to three years or more to get apartment projects from planning through city approvals and permitting.
The Madera Apartments near South Meadows Road and N.M. 599 started construction in October 2021 and, ultimately, will be the largest apartment complex in Santa Fe with 355 units. Developer Carlos Garcia is building a first phase of 240 units now with leasing starting in the fourth quarter. A second phase of 115 units will break ground in fall 2023.
“We are experiencing vibrant times in the Santa Fe commercial real estate market,” Garcia said. “This allows us to increase the quantity and quality of services available, increase employment and stimulate economic development.”
The Solwyn apartment project with 330 units at 5201 Beckner Road and the 171-unit Casa Azul apartments at Airport and South Meadows roads are expected to break ground within a month, said Jennifer Jenkins, a land use planner and representative for both projects.
“There’s a lot of activity in multiple sectors, not just multi-family,” Jenkins said.
Cerrillos Road on the south side is seeing a flurry of construction with the recently opened Rudy’s Country Store and Bar-B-Q and Sandia Federal Credit Union, plus current construction on a large storage complex and new Nusenda Credit Union.