05/15/2026
ποΈ Big news for downtown Albuquerque β and a landmark moment for adaptive reuse in the Southwest.
The former Wells Fargo Tower at 200 Lomas Blvd. is being transformed into Lomas Tower: a $50β$65M mixed-use development with 100 affordable housing units, ground-floor retail, and a projected late 2027 opening.
Here's what makes this deal stand out:
π¦ $35M county revenue bond
ποΈ $10M from NM's 2026 affordable housing budget
ποΈ $5M city contribution
π 50 units reserved for households β€50% AMI | 50 units β€70% AMI
This is what smart public-private capital looks like in action β turning vacant office space into a community asset.
We're watching this project closely. The adjacent parking lot is already being evaluated for its next phase: hotel, housing, or office. The ripple effects on the downtown corridor are just beginning.
π Want to know what moves like this mean for your investment strategy? Visit our website to learn more.