ALBUQUERQUE, N.M. (KRQE) – They’re hard to miss: the two massive office buildings towering over Central and San Mateo. In recent weeks, they have been touted as a way to expand housing options in the area, but what exactly is coming, and when?
On August 12, the city officially announced their plans for the two vacant buildings at San Mateo and Central. One tower, at the corner of Central and San Mateo, was once a bank. The other tower used to be an office building.
While they’re empty now, the city said the shorter of the two will be the first to see changes. To get the Park Central Project done, the city is offering the developers tax breaks.
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The Metro Redevelopment Agency said so far, the tax abatement application that is currently pending council approval is only for the smaller of the two buildings on the property. While the taller tower is still in an earlier phase of development.
The city said the smaller of the two buildings will have 101 units of housing with some rents below market rates.