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HIGHLANDS NORTH

Approved 2/10/2019

Multifamily

LOCATION
START DATE
COMPLETION DATE
FUND EQUITY (MM)
TOTAL PROJECT COST (MM)
% COMPLETE
Albuquerque, NM
Q2 2019
Q3 2020
$3.1
$20.5
100

Highlands North is a 92-unit, surface parked urban multifamily project with a main four-story building and four surrounding carriage buildings in The Highlands masterplan in Albuquerque, New Mexico.

 

The amenities include a resort-style pool, state-of-the-art fitness center, and impressive clubhouse space. These community amenities are matched by the location’s walkability to neighborhood amenities such as public transportation, numerous restaurants and bars, and large employers. The project is the seventh partnership with Alliance residential.

The site is located in a City of Albuquerque Metropolitan Redevelopment Area (“MRA”). The MRA eliminates impact fee payments. Additionally, the MRA allows for the issuance of Metropolitan Redevelopment Bonds (“MRBs”). These bonds deliver seven years of property tax abatement starting from the completion of the project. These municipal incentives contribute to the project’s profitability.

Broadstone Highlands North 24
Broadstone Highlands North 24

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Broadstone Highlands North 07
Broadstone Highlands North 07

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July 2019
July 2019

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Broadstone Highlands North 24
Broadstone Highlands North 24

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