A plan to substantially upgrade and renovate a well-known Albuquerque hotel has taken a big step forward with the securing of $39.5 million in funds to help the project along.
Located at 5151 San Francisco NE, the hotel was opened in the fall of 1986 and originally branded as a Holiday Inn Pyramid. It became the Crowne Plaza Pyramid several years later before finally turning into the Albuquerque Marriott Pyramid North.
In September the Albuquerque-based Legacy Development & Management purchased the 310-room hotel, announcing plans to spend upwards of $22 million renovating it.
At the time of the purchase, Aleem Kassam, chief executive officer of Legacy, told the Albuquerque Journal that the plan was to “renovate and modernize the entire hotel while keeping the Pyramid’s distinct southwestern style intact.”
Now that plan is advancing with a vote by members of the Bernalillo County Commission to approve $39.5 million in industrial revenue bonds that will be used for the project.
The renovation work, which is expected to take at least two years to complete, will also see upgrades to the hotel’s exterior.
Located within the Journal Center Business Complex, the hotel is visually known for its Santa Fe-style architecture and Aztec pyramid design, as well as its 10-story atrium.
The Legacy company has made a name for itself with large hotel redevelopment projects in New Mexico, Washington, and Oregon, among other places. It is most known in the Albuquerque area for its renovation and upgrading of the historic 10-story Hotel Andaluz, which was built in 1939 by famed hotelier Conrad Hilton.
By Garry Boulard
