SANTA FE – The State Fairgrounds District Board today voted 6-1 to approve the first phase of a redevelopment plan that will transform the central Albuquerque site into a walkable, mixed-use destination designed to improve public safety, create new jobs and generate economic activity.
The redevelopment initiative will reorganize and consolidate existing State Fairgrounds facilities to make room for new development, create a walkable mixed-use core and establish a modern stadium to anchor the project. The plan’s financing includes $92 million in bonding capacity and $114 million from the state’s general fund.
“Today’s vote is a major step toward revitalizing the heart of Albuquerque as a meaningful economic engine that creates jobs, draws visitors, and builds lasting value for the surrounding neighborhoods,” said Governor Michelle Lujan Grisham. “The Fairgrounds have always been a gathering place for New Mexicans, and we want to improve the property to ensure future generations will continue to benefit from the site for years to come.”…