What fresh opportunities and facilities will UNM and Innovate ABQ's collaboration offer students?
Construction of $35 Million Building Slated for Summer
BY RENE THOMPSON
A 159,000-square-foot, six-story building from Innovate ABQ and UNM is scheduled to open by August of 2017 at the Northeast corner of Central and Broadway.
The University of New Mexico Board of Regents approved an agreement with a local development group to start what will just be the beginning of the InnovateABQ project, according to the UNM Newsroom. UNM President Robert G. Frank said, “We’ve been working with our public and private partners to bring our students and researchers together with entrepreneurs and innovators in an inspired environment that can spur economic development and create jobs that benefit all of us.”
The building will feature dorms and offices steered toward researchers and entrepreneurs. Specifically, in the top five floors, there will be 155 two-bedroom student apartments for upper-level undergraduate and graduate students—enough space for up to 310 people.
The 30-year lease is just the beginning. “This has been our vision from the start,” Frank said.
The total cost of the project is estimated to be $35 million. Private developers will build the building, UNM will rent and pay operating expenses and maintenance. The initial rent cost to the university will be $1.8 million, with escalation clauses at regular intervals. Rent in year 30 will be just over $3.3 million.
Latest posts by Rene Thompson (see all)
- Forty Years Proud - June 3, 2016
- Yaass Queen: Lady Shug De La Cruz - June 1, 2016
- Hike, Camp & Swim the 505 - May 21, 2016
5 Comments
News – Rene Thompson Writer, Journalist, Photographer
April 12, 2016, 5:24 pm[…] Innovate ABQ […]
REPLYStudy Ranks Albuquerque One of the Worst Places to Start a Business | ABQ Free Press
May 2, 2016, 6:42 pm[…] Mayor Richard Berry has tried to promote the city as an entrepreneurial hub with projects like Innovate ABQ, which is supposed to be a place where young, high-tech workers live, work, play and develop new […]
REPLYStudy Ranks Albuquerque One of the Worst Places to Start a Business | Beatriz Simpkins
May 2, 2016, 6:46 pm[…] Mayor Richard Berry has tried to promote the city as an entrepreneurial hub with projects like Innovate ABQ, which is supposed to be a place where young, high-tech workers live, work, play and develop new […]
REPLYStudy Ranks Albuquerque One of the Worst Places to Start a Business | Don Santana
May 2, 2016, 6:47 pm[…] Mayor Richard Berry has tried to promote the city as an entrepreneurial hub with projects like Innovate ABQ, which is supposed to be a place where young, high-tech workers live, work, play and develop new […]
REPLYStudy Ranks Albuquerque One of the Worst Places to Start a Business | Adam Hutchins
May 2, 2016, 6:56 pm[…] Mayor Richard Berry has tried to promote the city as an entrepreneurial hub with projects like Innovate ABQ, which is supposed to be a place where young, high-tech workers live, work, play and develop new […]
REPLY