Albuquerque Housing Project Advances with Phase 2
- Apr 25, 2019
A joint venture between Titan Development, Maestas Development Group and Alliance Residential has broken ground on Highlands North. The 92-unit community is the second phase of The Highlands master plan in Albuquerque, N.M., and is slated for completion in March 2020.
The project is located at the northern corner of Central Avenue and Mulberry Street along the downtown central corridor, on a 12-acre site and will include eight components. Highlands North will consist of one- and two-bedroom apartments in a four-story building and common-area amenities such as a fitness center, pool, club house and coffee bar.
Phase I comprised the 118-key Marriott SpringHill Suites Hotel and broke ground this March. The $120 million development project will also include Highlands East, a 228-unit residential community, and Highlands Central Market, a 40,000-square-foot venue with grocery, dining and gathering space.
“Highlands North will appeal to a new wave of renters who are looking for the total experience of an urban multifamily project complete with all the amenities you would see in cities across the country,” said Josh Rogers, director of development at Titan Development, in a prepared statement.
The Highlands will create roughly 1,400 construction jobs and 550 permanent jobs once completed. The project is one of the region’s large-size investments, which translated into positive trends for both job and rent growth, according to a recent Yardi Matrix metro outlook.