Broadstone Rodeo is the first market-rate, Class A multifamily project built in Santa Fe in over 20 years. The lack of supply was created by the City of Santa Fe’s insurmountable set of regulations which were temporarily deferred to help provide new housing options in the city. The lack of new multifamily supply combined with high demand has created rent growth that averaged 10.7% annually in the last four years. Occupancies across multifamily classes have been greater than 96% since 2015.
The project will be the newest, best located, and largest multifamily project in Santa Fe and is positioned to out-perform existing and new communities. We have partnered with Alliance Residential, a best-in-class operator with national and local expertise that makes them a perfect fit for Broadstone Rodeo.