Choose your location
Albuquerque Business First
Local architect to revitalize former Mannie's restaurant site
Following demolition in 2023, a local architect and developer is redeveloping the former Mannie’s restaurant site in Nob Hill into a mixed-use retail and dining space.<\p> The project at 2900 Central Ave. SE spans a total of 4,851 square feet and will be divided into two suites. The available space ranges from 1,650 to 1,965 square feet, with an additional 1,236 square feet of outdoor patio space. Parkland Hills Inc., a local family-owned real estate development and holding company, is the developer. The company was founded in 1926 by George Anderman, the grandfather of current Owner Anthony Anella. <\p>
Master-planned community breaks ground in Carlsbad
Carlston Ranch, a master-planned community in Carlsbad, has broken ground after nearly 10 years in the making.<\p> The community’s first phase out of four will include 297 acres and feature 139 single-family lots, apartments, commercial and retail, a business park and a recreational vehicle resort. A development cost was not provided. <\p>
ABQ solar firm testifies before Congress
The CEO of one of New Mexico's few publicly traded companies was on Washington, D.C.'s Capitol Hill Wednesday to talk federal support for the firm's — and some of its partners' — recent multimillion-dollar expansion efforts. <\p> Kevin Hostetler, the CEO of Albuquerque-based Array Technologies (NASDAQ: ARRY), testified before the U.S. Congressional Joint Economic Committee June 12. <\p>
Santa Ana Pueblo officially acquires 60,000 acres
Sixty-thousand acres of land in New Mexico is now part of Santa Ana Pueblo, ending a near-decade long pursuit by the Pueblo to bring the plot into its fold.<\p> Known as Tamaya Kwii Kee Nee Puu to the Tamayame people, the land holds traditional importance to the Pueblo, whose ancestors settled, hunted and later grazed livestock on it. It was previously the King Brothers’ Alamo Ranch, owned by the prominent King family.<\p>
Ongoing suit challenges state over oil, gas pollution
A recent decision by a New Mexico judge will see a year-long case against the state go to trial over alleged failures to control pollution from oil and gas activities within its borders, with potential wide-ranging impacts on permitting and regulation.<\p> Last May, a group of individuals and environmental organizations sued the State of New Mexico, claiming it's "out of compliance" with a pollution control clause in the state constitution. <\p>
Terry Brunner outlines vision for Albuquerque's 'catalytic growth'
Representatives from the Albuquerque Metropolitan Redevelopment Agency on Wednesday outlined the city’s vision for economic revitalization, centered on a dynamic "donut hole" analogy.<\p> “Lots of stuff going on in Phoenix, Houston, Denver and El Paso," Terry Brunner, director of the Metropolitan Redevelopment Agency, said. "People are flying over us, and we're having a hard time dragging development interest into Albuquerque."<\p>
NAR settlement threw a wrench into VA loans but a fix is coming
The class-action lawsuits that rocked the residential real estate industry over the past year have resulted in nearly $1 billion in settlements so far — and also put in place changes that could have hurt veterans’ ability to shop for homes.<\p> The National Association of Realtors and big brokers such as RE/MAX Holdings Inc., Anywhere Real Estate Inc. and Keller Williams Realty Inc. agreed to prohibit mandatory so-called “cooperation agreements,” in which sellers pay both the selling agent and the buyers agent commission for a sale, in exchange for being allowed to list a home on a multiple listing service.<\p>
Three finalists for BernCo county manager revealed
The list of potential candidates for Bernalillo County’s top administrative position has been whittled down by two, with the Bernalillo County Board of Commissioners on Tuesday night announcing the three remaining candidates to be its county manager.<\p> The remaining candidates are:<\p>
School to repurpose 60K sq. ft. vacant building
Albuquerque's Technology Leadership High School has always wanted its own building. Now, after finding a spot in the International District, the school is fulfilling that wish and moving closer to the area it's served since 2015. <\p> Technology Leadership High School, a public charter school with just over 300 students focused on training high schoolers for technology-related jobs, has been located at 10500 Research Road SE in the Sandia Science and Technology Park since its founding in 2015.<\p>
State water commissioner faces ethics complaint
An ongoing process to establish rulemaking for water reuse in New Mexico has seen a twist following an ethics complaint lodged against one commissioner responsible for approving the final rule.<\p> Mariel Nanasi, the executive director of Santa Fe-based New Energy Economy, alongside Samuel Sage and Daniel Tso, two petitioners from the Navajo Nation, filed a formal ethics complaint with the State Ethics Commission Monday against Krista McWilliams, one member of the 13-person Water Quality Control Commission. <\p>
WeWork emerges from bankruptcy, appoints new CEO
After filing for bankruptcy protection in November, New York-based WeWork Inc. said Tuesday it has emerged from Chapter 11 and completed its operational and financial restructuring.<\p> The coworking giant's new era will include a new board of directors and a new chief executive. John Santora will become WeWork's new CEO, effective Wednesday. Santora joins WeWork from commercial real estate firm Cushman & Wakefield PLC (NYSE: CWK), where he most recently served as the firm’s Tri-State chairman.<\p>
Yes Housing gets zoning change approval for multi-use project
The Bernalillo County Board of Commissioners on June 11 approved a proposal by YES Housing Inc. to grant a zoning change for a multi-use development project at the southwest corner of Rio Bravo Boulevard and Second Street. <\p> The rezoning is for the site located at 450 and 410 Rio Bravo Blvd. SW, from heavy industrial (M-2) to Mountain View transit-oriented development (SD/MV-TOD). This change will facilitate the creation of affordable multifamily and single-family housing, retail spaces and community amenities in the area, Chris Baca, president and CEO of YesHousing Inc., said. <\p>
How Jason Zeng has stayed in the restaurant industry for decades
Jason Zeng was essentially destined to be a restauranteur.<\p> His family has been in the restaurant business for almost 80 years, starting with his grandfather's establishment in China back in the 1940s. His parents strayed away from the business for a decent chunk of their adult lives, but eventually returned after immigrating to the United States in the late 1980s. <\p>
Two Crackin' Crab locations forced to pay $253K to workers
Two Albuquerque Crackin’ Crab locations will pay 19 workers a combined $253,000 in owed wages and liquidated damages after a United States Department of Labor investigation found the chain had been withholding employee tips.<\p> The locations, at 4959 Pan American Fwy. NE, Suite C and 2100 Louisiana Blvd. NE, Suite 413, will also have to pay a $616 civil penalty.<\p>
$24M in CHIPS funding could create 100-plus ABQ jobs
A large California space company penned a deal to receive approximately $24 million in CHIPS and Science Act funding, money which would flow to the firm's Albuquerque-based subsidiary and create more than 100 jobs in the Duke City. <\p> The Biden administration announced Tuesday the U.S. Department of Commerce and Rocket Lab USA Inc. signed a non-binding preliminary memorandum of terms for up to $23.9 million in direct funding under the CHIPS and Science Act. Passed in 2022, the act is intended to support semiconductor and related technology investments in the U.S. with federal dollars. <\p>
Los Ranchos to hold closed session
A controversial, multi-use project under development in Los Ranchos could be headed toward a more peaceful resolution with both the developer and Village agreeing to try and find common ground — at least for now. The Village's board of trustees will meet on June 12 during a closed session to discuss next steps. <\p> Village Administrator John Avila said in an email statement on June 10 that Mayor Pro Tem Franklin Reinow has been busy "visiting with residents and reviewing Palindrome issues with the hope that the Village can find a negotiated solution that all parties can work with." <\p>
Community park, lake now open at Winrock Town Center
After more than a decade of planning, Albuquerque's Winrock Town Center now features a new community park and lake for locals and visitors to enjoy.<\p> Goodman Realty Group opened Winrock Central Park on June 8. The 2.5-acre site features a new playground, amphitheater, walking paths and an educational kiosk. <\p>
ABF welcomes Brody Foster
Albuquerque Business First welcomed Brody Foster as its New Mexico Local News Fund 2024-2025 fellow on June 10.<\p> The New Mexico Local News Fund, according to its website, aims to grow the ecosystem of local news around the state to better serve the information needs of its residents. It works with newsrooms and community organizations so that everyone has access to local news and information needed to thrive.<\p>
Albuquerque home prices jump in May
Housing prices shot up in May 2024 after a dip in April, according to the latest Greater Albuquerque Association of Realtors Report.<\p> From a median sales price of $350,000 in April 2024, the median sales price of a single-family detached home increased by 6.43% to $372,500 in May 2024. Comparing May 2023 to May 2024, the median sales price increased by 5.9% from $351,750 in May 2023. <\p>
Virgin Galactic enters commercial hiatus
Space tourism and testing company Virgin Galactic's stark white spaceship, VSS Unity, jetted through New Mexico skies Saturday morning. More than a hundred people, including company founder Sir Richard Branson, watched the flight from New Mexico's Spaceport America, where Unity took off — carried by Virgin's mothership VMS Eve — and where it landed just over an hour later. <\p> If all goes according to plan, it could be about a year before another Virgin Galactic ship takes to New Mexico skies — what would be a different, "next-generation" spaceship the company hopes can boost it to profitability.<\p>
Albuquerque Business First
3K+
Posts
1M+
Views
New Mexico's source for local business news, breaking news alerts, newsletters, business intelligence and local business networking. An American City Business Journals publication.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.