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Oct 10, 2017

Albuquerque Highrise Proposal to Go Back to Commission

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Albuquerque’s first highrise development in decades may top out at 34 floors, making it a dozen stories taller than the current highest building in the city, the Albuquerque Plaza Office Tower, at 22 stories.

The proposed 330,000 square foot Symphony Tower is reported to be the finalist in a competition announced earlier this year by Mayor Richard Berry to build a new downtown skyscraper.

The tower, which will include Class A office space and a 160-room hotel, is being developed by a team that includes SC3 Development and Geltmore LLC, both of Albuquerque.

The new tower will also include retail space, green space, a 10th floor pool with a large outdoor deck, and apartments that could be as large as 6,000 square feet.

If approved, the Symphony Tower is expected to cost around $116 million to build, and will go up at the corner of Third Street N.W. and Marquette Avenue N.W., across the street from the Albuquerque Convention Center.

Although the proposal has won the approval of the Skyline Competition’s ad hoc committee, it has been rejected by the Albuquerque Development Commission, which, among other functions, oversees the sale of city land within the Metropolitan Redevelopment Area.

That rejection was based on a lack of detailed information regarding tax incentives and public assistance for the project. It is expected that the commission will revisit the proposal in November.

The original Request for Proposals issued by the city’s Metropolitan Redevelopment Agency called for a “monumentally designed” structure that upon completion would be “identifiable and synonymous with downtown Albuquerque.”

 

By Garry Boulard

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