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Data, Statistics, and Information on Downtown Albuquerque for Residents and Businesses Sponsored by the Downtown Action Team * Downtown Albuquerque, New Mexico

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Data, Statistics, and Information on Downtown Albuquerque for Residents and Businesses Sponsored by the Downtown Action Team * Downtown Albuquerque, New Mexico Data, statistics, and information on Downtown Albuquerque for residents and businesses Sponsored by the Downtown Action Team * Downtown Albuquerque, New Mexico 2013 DATABOOKPut a New Mexico festival in your future! newmexicoartsandculture.org Las Vegas Los Alamos Raton Silver City Taos New Mexico’s Arts & Cultural Districts are Who we are and what we do. us about ownto The Downtown Action Team lobbies for Downtown growth and development, and advocates for D w incentives for small and local business owners to thrive, grow and succeed. Our mission is to opti- n mize the value of Downtown Albuquerque as the economic, creative, and entertainment heart of the community. We strive to make ourselves open, engaging, and accesible. We: 1. Serve as the management committee for the Business Improvement District (BID) to provide en- hanced services to the businesses and properties within the BID 2. Attract quality growth and investment in Downtown that benefits the greater Albuquerque region 3. Understand the market and pro-actively collaborate with all the key players in the community to develop and implement strategies to reach our desired outcomes 4. Enhance the image and vibrancy of Downtown 5. Manage the Downtown Growers’ Market, which takes place for 25 weeks of the year and attracts over 40,000 people annually 6. Act as your link to Downtown business owners, City Government, property managers, realtors, and financial advisors. Business Improvement Our Clean & Hospitality Ambassadors are the most visible members of the team. They pro- Districts are special districts vide outreach to the community, as well as remove trash, power wash sidewalks, and provide other in which property owners vote specialized maintenance. Image Enhancement Initiatives include efforts to improve the business to initiate, manage and finance climate, enhance the physical appearance of Downtown, and increase the overall marketability of supplemental services beyond those already provided by local Downtown to attract new businesses, consumers and visitors. The Ambassadors: government. The goal of a BID • Ensure a clean and welcoming environment in Downtown Albuquerque is to restore or promote busi- • Collaborate with appropriate agencies and property & business owners to enhance safety ness activity in targeted com- • Support crime prevention; positively address the challenges associated with street populations mercial areas. The Downtown • Provide information to visitors and work to make Downtown streets more hospitable Albuquerque BID was formed in 2000. squeaky clean 107,000+ pounds of trash picked up by our Ambassadors last year alone. us 03 ownto find D I-40 w The Business Improvement District is the Downtown n core and bounded by Marble Avenue to the north, the railroad tracks to the east, 10th Street to the west, and Coal to the south. District Legend Courthouse Warehouse Plaza Arts & Entertainment Transportation I-25 Casa The greater Downtown area is roughly bounded by I-40 to the north, I-25 to the east, the Rio Grande river to the west, and the neighborhood of Barelas to the south. The light grey circle shows an approximate half mile radius of Downtown. Downtown has $2 billion in payroll transactions annually, the highest in the City. dobusiness Population & Demographics The metropol- Energy According to the U.S. Department of itan region has a population of approximately Energy, New Mexico’s energy cost is 7% below 900,000 people. There are over 12,000 people the national average, and 19% below the re- that live within 1 mile of the Downtown core. gional average. New Mexico is also one of the More than 44,000 commute into Albuquerque’s nation’s leading energy producers, ranging from Downtown to work every day. oil, natural gas and nuclear to solar, wind, ther- mal and biofuels. Retail Market Nearly 3,500 people are em- ployed in the retail industry in the greater Down- Market Access Our proximity to the fastest town region. Retail space reaches nearly 600,000 growing states of Nevada, Arizona, Utah, Cali- square feet in the Downtown area alone, with fornia, and Texas with ease of access to Mexico asking rates going for approximately $12-19 per make New Mexico’s biggest city, Albuquerque, square foot. Vacancy rates for retail space stand an obvious choice for business opportunity. at 17.4%. Tax Benefits Continued tax cuts and growing Office Market With average leasing rates for state revenues have improved the state’s tax cli- keep it local Class A and B commercial spaces ranging from mate, lowering the tax burden in New Mexico One of the “Top Cities for $14-19 per square foot, Albuquerque has some to its lowest rate in 20 years. Today, we proud- Small Business”-The Business of the most affordable commercial office space ly boast the lowest property tax burden in the Journal in the country. Downtown also offers over 2.7 country, according to the Tax Foundation’s 2012 million square feet of office space with fantas- State Business Tax Climate Index, and property #1 for the lowest cost of tic vistas of the Sandia mountains and the volca- is assessed at only 33% of its market value. doing business, looking noes, with ease of access to Interstates 25 and at energy costs, worker 40. compensation, and taxes. -Moody’s North American Business Cost Review & Economy 05 Development Process Downtown provides some of the lowest city development fees in the region, which gives us a competitive advantage over suburban sub-markets. It is also impact fee free, a Metropolitan Redevelopment Area incentive to encourage new Downtown development. Downtown also has the City’s most streamlined development approval process. The Downtown 2010 Sector Development Plan is a form-based code that established an easy four-step approach to building in Downtown: • Locate your property on the district map • Identify which uses are permitted, regulated or prohibited in your district • Identify the building types authorized for your district • Apply the building standards applicable to your project Utilities Infrastructure Downtown Albuquerque is the 6th best place in the United States to lo- cate a secure data center, according to Princeton, New Jersey-based The Boyd Company. They cite Albuquerque’s “robust bandwidth, telecommunications and power infrastructure, favorable oper- ating cost structures, and established high-tech research base”, as well as our relative immunity to natural disasters. Fiber Network We are the crossroads of the 12,000 mile National LambdaRail (NLR), the “network of networks” and a national, advanced optical network running both N/S and E/W. There are no re- strictions on usage or bandwidth. The Downtown network is fed from two different locations on the utility company transmission system (Public Service Company of New Mexico, or PNM), minimizing distruptions in service by providing two feeds. PNM recently also completed a multi-million dollar, world-class upgrade to their Downtown network, allowing for better remote control, monitoring, and visibility by distribution system operators and enabling better response time. Downtown private investment for the 3rd quarter of 2013 alone totaled well over $4.6 millions dollars. -City of Albuquerque Downtown has the most diverse selection of housing in Albuquerque. live&workdowntown Cost of Living The cost of living composite Health Care Within 1/2 mile of Downtown are index is 95, a full 5% under the national aver- multiple hospitals and health care centers: age. Comparatively, Denver, has an index of 103. • Lovelace Medical Center, a 263 bed hospital with Housing, utility, and grocery costs score 10% un- 24-hour emergency services der the national average. • Heart Hospital of New Mexico, with 55 beds • Lovelace Rehabilitation Hospital (the only hospi- tal in New Mexico accredited by the Commission Residences The total population of the Down- on Accreditation of Rehabilitation Facilities) town is 12,671 living in 7,058 units. Another • New Mexico Heart Institute 1,200 units are expected to be completed with- • Presbyterian Hospital, with 453 beds in the next 5 years. In 2012, the median home • Hearing Health Center value was $147,400 and is expected to increase • New Mexico Orthopaedic Surgery to nearly $175,000 by 2017. The median age of • New Mexico Clinical Research & Osteoporosis Downtown dwellers is 37, and our high diversi- Center • Concentra Urgent Care ty index (74.7) means that your neighbors are • The University of New Mexico Medical Center, a broad and eclectic mix of ethnicities and rac- The Downtown Growers’ the only Level 1 Trauma Center in the state with Market at Robinson Park es. Typical residential housing goes for between 618 beds $70-$100 per square foot. attracts nearly half a million visitors each year in its 25 Within 2 miles.... week season, and also fea- A large Sports & Wellness Learning & Fitness • BioPark & Zoo tures live music, prepared gym facility includes an indoor pool, yoga and • River, Bosque, and adjoining bike trails foods, and arts & crafts. cardio classes, a dry cleaning facility and vali- • Explora! Children’s Museum; The Museum dated parking. There is also a YMCA with child of Art & History; National Hispanic Cultural care facilities. A mixed-use facility featuring a Center; Telephone Museum; The Holocaust & yummy new grocery store is slated to be built within Intolerance Musem; New Mexico Museum of two years and will add additional residential and Natural History and Science. “One of the Top 10 Best shopping options. The Albuquerque Public Li- • Eight public schools, including acclaimed Amy U.S. Cities for Local brary’s main branch is headquartered on Copper Biehl High School; various private schools; Food” -Huffington Post and has meeting and study rooms that can acco- several day care centers, including Christina modate over 200 people, and a sandwich shop! Kent Early Childhood Center, established in 1919. 07 Major Employers The City of Albuquerque, County of Bernalillo, and other state and federal gov- ernment offices employ nearly 14% of the Downtown core workforce.
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