Construction Update 1998: As the attached page indicates, Multi-Family construction starts for Albuquerque are nearing a record low. Huning Castle, a 73 unit luxury apartment, is schedule to begin construction in the next 60 days with the following rent proforma: # Style Bedrooms Bathrooms Size Rent Rent/SF 2 Studio 0 1 429 $499 $1.16 29 C1 1 1 635 $650 $1.02 3 E1 1 1 664 $659 $0.99 3 D2 2 1 870 $859 $0.99 14 A2 2 2 944 $944 $1.00 12 B2 2 2 962 $941 $0.98 1 G2 2 2 1230 $1,149 $0.93 6 H3 3 2 1178 $1,192 $1.01 2 Penthouse 3 2 2001 $1,959 $0.98 Additionally, A couple of tax credits deals are rumored - totaling 500+ units - although our research indicates that is unlikely that they will come to fruition. Do look for some additional retirment/assisted living units and apartments that focus on a specific nichelike urban housing in either of the CBDs. Around the state, smaller towns are seeing modest new construction mostly in the affordable housing or tax credit arena, including: Roswell, Taos, Las Cruces, Ruidoso, Alamogordo, and Farmington. !!!!!!!!!!!!!!!!!!!!NEWS FLASH!!!!!!!!!!!!!!!!!!! I have just listed the Central Park Apartments located at 4300 Pan American Freeway NE (Montgomery and I-25) - 241 units $10M including additional 7.4 acre Multi-Family parcel. Please call for registration and package or visit our website for a preview pacakge at http://www.nmcomreal.com/nmcomreal Also for Sale- Security Capital Group has decided to sell Entrada Pointe - 209 units in Rio Rancho and The Talavera - 296 units in Santa Fe - neither property has a fixed offering price. Interested in making a bid? Call for Info !!!!!!!!!!!!!!!!!!!!NEWS FLASH!!!!!!!!!!!!!!!!!!