Jonathan Rose Companies > Projects > East and West Second Street Development

East and West Second Street Development
Albuquerque, New Mexico Romero Rose was chosen to redevelop two sites in downtown Albuquerque, within the City’s Alvarado Transit District. The project’s five acres, on two adjacent sites, form a critical piece of the downtown fabric. When complete the sites will provide an optimum mix of live/work studios, affordable multifamily units, market rate townhomes, and possibly retail and office space. Working with Calthorpe Associates, the team has framed a master plan that weaves the various unit types into a diverse and balanced footprint, linking the surrounding context together and providing ample street level space for public and private interaction. Key features of the plan are its connection to the transportation center, an interior courtyard based on the historic Alvarado Hotel, and continuity in streetscaping throughout. At East Second Street, the live/work component consists of 53 flexible units in three, three-story buildings as well as landscaped open space and surface parking. The two-phased, mixed income multifamily rental development will be built in a four-story, U-shaped structure surrounding an interior courtyard enclosed on one side by a parking structure. The West Second Street site will be developed for mixed income, owner-occupied housing and possibly, office and retail space. Its design is modular, allowing substitution of unit types depending on market demand as the phased construction progresses. The City has allowed for flexibility with respect to final uses of the site, enabling the project to begin development without commitment to uses which may not prove viable. - - - - Home \| Who We Are \| Projects \| News \| Resources © 2001 - 2007 Jonathan Rose Companies LLC Email us \| Contact Information		Firm Role Owner/ Developer/ Project Manager/ Planner Construction Type New Construction Developer Romero Rose LLC Development Team Architect: • OZ Architecture • Claudio Vigil Architects • Workshop Architects Landscape Architect: • Consensus Planning Site Planner: • Calthorpe Associates Development Profile East Second Street Site: • 53 live/work studios • 110 units mixed income multifamily • 210-space dedicated parking structure West Second Street Site • Residential – 10 clusters of for-sale townhomes consisting of 76-136 units Financing Sources • New Mexico Mortgage Finance Authority • City of Albuquerque • Equity • Conventional debt • Tax increment financing • New Market and Low Income Housing Tax Credits • Parking structure subsidy • Gap financing • MFA Housing Trust Fund Award • Other proposed local and national sources Status Phase II development