One of the largest proposed apartment projects in Santa Fe could see construction beginning next year, if it secures city approval.
The Tampa, Florida-based DeBartolo Development says it wants to build a 336-unit complex on the southwest side of the city in what is known as the Las Soleras neighborhood.
DeBartolo specializes in both retail and residential space development and currently has more than 4,000 multifamily units nationally either under development or in construction.
The project is set to be built on a currently vacant site at 5300 Las Soleras Drive, roughly 7 miles to the southwest of downtown Santa Fe in an area of recent commercial development.
The subject of at least one initial public input meeting to date, the project will see the construction of 15 three-story buildings on a 17-acre site.
Those buildings will house 150 one-bedroom units, along with an equal number of two-bedroom apartments.
Plans also call for the construction of 36 townhomes, most of which will have three bedrooms.
If all goes as anticipated, construction on the Las Soleras Drive project could begin before the spring of 2022.
According to a report published earlier this year by the Santa Fe Association of Realtors, metro Santa Fe is in need of at least 7,300 new rental units to keep pace with population growth.
That need also reflects the fact that the median home price in the larger county is above the $500,000 mark, creating a demand for rental space among middle and lower-income earners.
By Garry Boulard
