Albuquerque Hotel Set for Multifamily Conversion
- Feb 06, 2019
The Wyndham Albuquerque Hotel and Conference Center has ceased operations and will soon become a 130-unit community, according to the Albuquerque Journal. The hospitality asset’s owner plans to complete the first phase of construction by the end of 2019.
Located at 2500 Carlisle Blvd. N.E. in Albuquerque’s Balloon Fiesta Park – West submarket, the building is just north of the Coronado Freeway, 4 miles east of downtown. The busy Menaul Boulevard retail corridor is situated nearby, offering a wide variety of shopping and dining options. Additionally, the area is home to several hotels. The property on Carlisle Boulevard is connected to the building which formerly housed Albuquerque Surf n’ Slide, an indoor water park.
According to Yardi Matrix data, Albuquerque has fewer than 250 units underway across the metro. The new development could be an indication of a growing appetite for development in the area. In October, Titan Development, one of the city’s major multifamily developers, announced plans to build a 102-unit community in the Nob Hill submarket.
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