Construction on entertainment complex could begin as early as next year
By Nikole Mckibben
DailyLobo.com
Planning and pre-development on a sports entertainment complex in the shadow of University Stadium is progressing, with construction expected to begin early next year on a project that is currently bigger than originally was expected.
The director of UNM's Real Estate Department, Tom Neale, who has worked for UNM for 10 years, said his department handles all of the leasing and property entities under the Board of Regents, in addition to helping academic departments acquire space off campus as well as on campus for businesses.
Neale is also the director of the nonprofit UNM entity Lobo Development, which is facilitating the plans for the entertainment complex on South Campus.
“54 Development was originally going to develop 25,000 square feet of entertainment and retail space. Their plans have grown to a 50,000-55,000 square foot project,” Neale said.
Sean Elliott, 54 Development’s brand and public relations developer, said he looks forward to bringing more people to the area to enjoy what makes Albuquerque tick, especially for sports fans.
“Ultimately, we will be successful if we engage the residents of Albuquerque and the surrounding areas with our offerings and provide a lifestyle space that students, educators, sports fans and families can enjoy year round,” he said.
There is confidence that the project will be successful, as more than $125 million dollars in renovations have been funneled into south campus over the years, Neale said.
The $60 million renovation at WisePies Arena aka the Pit, $25 million construction of Isotopes Stadium, and $40 million spent by American Campus Communities at Lobo Village and the BMX complex have allowed South Campus to become a distinct district, he said.