City of Albuquerque Near Heights Metropolitan Redevelopment Plan - Housing Summary
a) Development of a benchmark of historical conditions:
i) Overall demographics of neighborhoods defined by the MR plan
ii) Four year history of average single family, attached townhouse, and multifamily sales per square foot or per unit.
iii) Five year history of average rent per square foot and vacancy rates for multi-family projects.
iv) Historical information about crime and crime rates in the area.
v) Dissertation about property transactions, typical buyer profiles, etc. for this area.
b) Development of review criteria and framework to determine or identify:
i) Single family properties or neighborhoods that are in need of rehabilitation.
ii) Single family properties or neighborhoods that are in need of redevelopment
iii) Multifamily properties or neighborhoods that are in need of rehabilitation.
iv) Multifamily properties or neighborhoods that are in need of redevelopment
v) Minimum standards to identify Successful projects, communities or neighborhoods that have implemented change.
c) Evaluation of:
i) Existing financing programs
ii) Existing government grants and/or programs.
iii) Existing zoning and land uses and their compliance/hindrance with overall the needs for the area
d) Identification of:
i) Gaps between financing and area needs
ii) Potential changes in land use needs
iii) Concepts or plans that could be implemented on a neighborhood level to improve quality of living, property values, safety, and overall ambiance.
The team reviewed historical housing, crime, and project info in the area on these slides: View the CAT Team Powerpoint presentation for this evening here
Then the team reviewed three possible housing options that might have an impact on the area, weighing Pros vs. Cons, and prooviding overall feedback for each of the plans (A-B-C).
|Option A||New Design||This program option targets vacant and underutilized properties as candidates for new design of housing stock utilizing CPTED principles.|
CPTED concepts used |
Can be used as condominiums in the future
Enhances the image of the neighborhood
Highest and best use of land
Increases communal aspect of a lot that size
Might attract new residents
Savings in utilities
Increased quality of life for residents
Raising level of housing above area residents' reach
Gentrification impacts area's culture
Does not allow for more ownership options in the immediate future
High construction cost
|Option B||Multi-Family Owner Occupied Properties (M.O.O.P.s)||This program option fills 25% of unoccupied rental units with owner occupants. It offers financing options for low-income buyers and involves a landlord mentorship/training program. CPTED principles are also utilized in this scenario.|
Owner occupancy |
Economic opportunity for those who currently do not have it
Pride of ownership
Increased curb appeal
Decrease in rental units/increase in occupancy
Good for area's culture
Solves absentee owner problem (note: absentee does not imply out of town per se)
Little equity from owner - chance that he/she will walk away (note: whether the equity involved is actually "little" for the buyer was called into question)
Lack of curb appeal
Lack of opportunity for landscaping
|Option C||Rehabilitation Program||This program option encourages rehabilitation of housing stock with a CPTED principle compliance component.|
Construction cost |
More habitable dwellings
Ethnic appeal - color, brightness
Better use of parking lots
More opportunity for community involvement by residents and organizations/sweat equities
Includes property owners
Marketing/publicity for the neighborhood - a chance to change the public's perception of the area (this applies to all three options)
Lack of opportunity for landscaping
Lack of pride of ownership for tenants
Finally, the team talked about other issues and possible solutions in the area including the following topics: Code team - shortgage of personel - 1on1 - CCRs & C.E.D.
Color variation - cleanliness - tree's
marketing=changing public perception
"unified" block renovation
---tenant centtric - facade improvement
relax parking requirement to allow for landscaping
change street names
spruce up alleys
ability to adopt CCRs after the fact?
The following link provides you with a detailed inventory of activity in this area .
Click here to download an Excel spreadsheet containing a list of Expenditures on these projects. area .
Harrison Higgins of Planning Technologies, Bill Moy of the Star Group and Todd Clarke CCIM of Grubb & Ellis|Lewinger Hamilton Inc. , have been selected to assist the City of Albuquerque in designing a action plan to take to assist with redevelopment in this area. Check back during the next few weeks for updates on meetings and other info as the plan unfolds.
|Additional Info:||Call Todd Clarke CCIM|
| (505) 883-7676 Fax: (505) 837-1944 |
Address: 2340 Menaul NE Suite 200 Albuquerque NM 87107
|Information compiled from the Database of Todd Clarke CCIM and is © of Todd Clarke CCIM and NM Apartment Report|