A Rio Rancho developer is making plans for the construction of an ambitious mixed-use project along busy Southern Boulevard SW that will be a response to the increasing metro demand for live-work space.
“The trend now is for more open space in projects, and even day care so that people can bring their children to work,” says Paul Matamoros of an envisioned project that will go up on a currently vacant site at the intersection of Southern Boulevard and 26th Street.
Matamoros, chief executive officer for the Rio Rancho-based Metro Holdings, thinks the time is right for a significant mixed-use project in southern Rio Rancho, a project that may hold particular appeal to Millennial Generation tenants.
The proposed professional suites building could end up being anywhere from four to six stories in height, with around 20,000 square feet of retail space.
“With that, we could also end up with anywhere from 60,000 to 100,000 square feet of combined office and apartment space,” says Matamoros.
Previously a realtor and broker based in San Francisco, Matamoros says the proposed Rio Rancho project will have apartments ranging in size from studios all the way up to three-bedrooms, along with a rooftop common space providing a panoramic view of the Sandia Mountains.
Matamoros is currently in the process of seeking equity investment to the tune of anywhere between $2 million and $2.5 million for what is expected to be a $12 million project.
If that funding and investment is secured, Matamoros forecasts an 18 to 24-month design and construction timeline to bring the project to completion.
By Garry Boulard
