Lomas Corridor Albuquerque, New Mexico November 6–11, 2011 Advisory ServicesReport Panel A ULI Albuquerquecover2012.indd 2 8/28/12 11:26 AM Lomas Corridor Albuquerque, New Mexico Partnership and Place Making November 6–11, 2011 Advisory Services Panel Report A ULI A ULI About the Urban Land Institute THE MISSION OF THE URBAN LAND INSTItute is ■■ Sharing knowledge through education, applied research, to provide leadership in the responsible use of land and in publishing, and electronic media; and creating and sustaining thriving communities worldwide. ■■ Sustaining a diverse global network of local practice ULI is committed to and advisory efforts that address current and future ■■ Bringing together leaders from across the fields of real challenges. estate and land use policy to exchange best practices Established in 1936, the Institute today has nearly 30,000 and serve community needs; members worldwide, representing the entire spectrum ■■ Fostering collaboration within and beyond ULI’s of the land use and development disciplines. ULI relies membership through mentoring, dialogue, and problem heavily on the experience of its members. It is through solving; member involvement and information resources that ULI has been able to set standards of excellence in develop- ■■ Exploring issues of urbanization, conservation, regen- ment practice. The Institute has long been recognized eration, land use, capital formation, and sustainable as one of the world’s most respected and widely quoted development; sources of objective information on urban planning, ■■ Advancing land use policies and design practices growth, and development. that respect the uniqueness of both built and natural environments; Cover photo: Annie Finkenbinder Best ©2012 by the Urban Land Institute 1025 Thomas Jefferson Street, NW Suite 500 West Washington, DC 20007-5201 All rights reserved. Reproduction or use of the whole or any part of the contents without written permission of the copy- right holder is prohibited. 2 An Advisory Services Panel Report About ULI Advisory Services THE GOAL OF ULI’S Advisory Services Program is to able to make accurate assessments of a sponsor’s issues bring the finest expertise in the real estate field to bear on and to provide recommendations in a compressed amount complex land use planning and development projects, pro- of time. grams, and policies. Since 1947, this program has assem- A major strength of the program is ULI’s unique ability bled well over 400 ULI-member teams to help sponsors to draw on the knowledge and expertise of its members, find creative, practical solutions for issues such as down- including land developers and owners, public officials, town redevelopment, land management strategies, evalu- academics, representatives of financial institutions, and ation of development potential, growth management, com- others. In fulfillment of the mission of the Urban Land munity revitalization, brownfields redevelopment, military Institute, this Advisory Services panel report is intended to base reuse, provision of low-cost and affordable housing, provide objective advice that will promote the responsible and asset management strategies, among other matters. use of land to enhance the environment. A wide variety of public, private, and nonprofit organiza- tions have contracted for ULI’s Advisory Services. ULI Program Staff Gayle Berens Each panel team is composed of highly qualified profes- Senior Vice President, Education and Advisory Group sionals who volunteer their time to ULI. They are chosen Thomas W. Eitler for their knowledge of the panel topic and screened Vice President, Advisory Services to ensure their objectivity. ULI’s interdisciplinary panel teams provide a holistic look at development problems. Annie Finkenbinder Best Director, Education and Advisory Group A respected ULI member who has previous panel experi- ence chairs each panel. Theodore C. Thoerig Manager, Education and Advisory Group The agenda for a five-day panel assignment is intensive. Caroline Dietrich It includes an in-depth briefing day composed of a tour of Logistics Manager, Education and Advisory Group the site and meetings with sponsor representatives; a day Gwen McCall of hour-long interviews of typically 50 to 75 key commu- Senior Administrative Manager, Education nity representatives; and two days of formulating recom- and Advisory Group mendations. Long nights of discussion precede the panel’s James A. Mulligan conclusions. On the final day on site, the panel makes an Managing Editor oral presentation of its findings and conclusions to the sponsor. A written report is prepared and published. Laura Glassman, Publications Professionals LLC Manuscript Editor Because the sponsoring entities are responsible for Betsy VanBuskirk significant preparation before the panel’s visit, including Creative Director sending extensive briefing materials to each member and Deanna Pineda, Muse Advertising Design arranging for the panel to meet with key local community Layout Artist members and stakeholders in the project under consider- Craig Chapman ation, participants in ULI’s five-day panel assignments are Senior Director, Publishing Operations Lomas Corridor, Albuquerque, New Mexico, November 6–11, 2011 3 Acknowledgments ON BEHALF OF THE URBAN LAND INSTItute, Amy Coburn, Keelie Garcia, Gloria Muniz-Chavarria, and the panel thanks the Sandia Foundation and Lobo Devel- Joshua Rogers. ULI Albuquerque’s staff and membership opment Corporation for sponsoring this study of the also played an enormous role in furthering the panel’s un- Lomas Boulevard corridor. The panel extends special derstanding of the region. thanks to Robert M. Goodman, president and CEO of the In addition, the panel would like to thank the many stake- Sandia Foundation; the board of directors of the Sandia holders and experts interviewed throughout the research Foundation; the Lobo Development Corporation president process. Their insights and expertise were invaluable in the and board of directors; the University of New Mexico panel’s consideration of the site and its possibilities. regents; and Kim Murphy, director of real estate for the University of New Mexico. The panel also acknowledges its appreciation of support from Lobo Development staff; 4 An Advisory Services Panel Report Contents ULI Panel and Project Staff ................................................................6 Foreword: The Panel’s Assignment ..........................................................7 Market Potential ......................................................................10 Development Strategies .................................................................15 A Design Framework ...................................................................24 Implementation: Preparing for Development ..................................................27 Implementation: Partnership Strategies for Development .........................................31 Conclusion ..........................................................................34 About the Panel .......................................................................35 Lomas Corridor, Albuquerque, New Mexico, November 6–11, 2011 5 ULI Panel and Project Staff Chair Alan Mountjoy Principal John M. Walsh III Chan Krieger/NBBJ President Cambridge, Massachusetts TIG Real Estate Services Inc. Dallas, Texas Glen Sibley President Fleisher Smyth Brokaw Panelists Denver, Colorado Angelo Carusi Principal Robert Wulff Cooper Carry Inc. Senior Vice President Atlanta, Georgia B.F. Saul Company Bethesda, Maryland Bill Clarke Planning Consultant Ross, California ULI Project Staff Annie Finkenbinder Best M. Otto Condon Director, Education and Advisory Services Principal Zimmer Gunsul Frasca Architects LLP Caroline Dietrich Washington, D.C. Logistics Manager, Advisory Services Diana Gonzalez President DMG Consulting Services Inc. Miami, Florida Allen Meacham Assistant Director, Real Estate Services Group The Regents of the University of California Oakland, California 6 An Advisory Services Panel Report 550 64 64 Foreword: The Panel’s Assignment285 64 25 64 Grenville UNIONClayton 56 84 Rio Grande THE LOMAS BOULEVARD corridor study area is bounded 666 on the west by Interstate 25 and Martineztown/Santa Bar- Los Alamos bara, on the east by University Boulevard, on the north by 25 Santa Fe Ute Creek the University of New Mexico (UNM) Health Sciences Cen- 54 40 ter and Hospital Facilities, and on the south by the Spruce 25 Logan Ute Res. Park residential area. The University of New Mexico Board 285 84 of Regents and Sandia Foundation own most of the parcels Albuquerque 40 San Jon 40 in the study area. Current uses include automobile dealer- Pecos R. QUAY ships, vacant land, surface parking, the UNM transportation 54 Grady center, UNM storage and academic facilities, a cemetery, an NEW MEXICO 84L. Sumner American Legion facility, and a self-storage facility. Many of 60 Map of the Greater Albuquerque CURRY 60 the properties owned by Sandia are encumbered by ground Rio Grande region. 285 leases with terms that end in five to 29 years. Dickinson 25College, a UNM student scholarship endowment, 60 and other Albuquerque charitable organizations. Sandia Lomas Boulevard, an east–west thoroughfare, intersects is operated by a board of directors that includes mem- 380 Central Avenue at its west end near OldCATRON Town Albuquerque bers at large and members from each of the university Reserve Pecos R. and Tramway Boulevard on the east end. The six-lane beneficiaries. Sandia seeks