ALBUQUERQUE, N.M. (KRQE) – Along Route 66, at 98th Street and Central Avenue, a vacant dirt lot sits idle. Soon, however, it’s expected to be teeming with new life.
“It’s a really under served area, out on the Southwest mesa,” said Douglas Peterson. “Going back about eight years ago, my family developed the Northwest corner of the same intersection,” said Peterson.
Douglas Peterson, president of Peterson Properties LLC, said his company now plans to build ‘Sunset Gardens’ on the opposite corner.
“It’s been a very successful development so we’re gonna try something a little bit bigger this time, it will almost entirely be local businesses,” he said.
There’s not much to do for people who live on that side of town.
“A lot of these residents have to travel to the Northwest side of Albuquerque to do their shopping,” said Peterson.
By 2019, they may not have to. This isn’t the first development popping up across the city in an area where it’s needed.
“We’re offering the full experience, is really what we’re looking at here,” said Glenn Wright a broker with SVN/Walt Arnold Commercial Brokerage, Inc.
In an interview in May Wright spoke with News 13 about ‘Snow Heights Promenade,’ a property he’s been working on in the lot next to the ‘Breaking Bad’ car wash. That lot has sat vacant for nearly a decade.
“Live entertainment, stage, children’s play area… dog park,” said Wright.
That project will break ground in September and it’s also in an area where people are looking for things to do.
In both cases, the developers say the dark economic time of the recession put a hold on developments.
“We have several developments that we intended to do for a long time that the recession kind of put a pause on,” said Peterson.
Now, Peterson said, city is finally coming out of that, allowing projects to take off.
A spokesperson for the City of Albuquerque said the Sunset Gardens project could be attributed to the upcoming ART line.
The city said the increase in new developments is a trend in the economy is going up. The spokesperson said the city has seen the 43rd consecutive month of job growth.