Editor's Note: The original version of this story named a source "Sean" Elliott while their name is actually "Season" Elliott. The story has since been changed. The Daily Lobo regrets the error and will work more diligently to prevent similar mistakes in the future.
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.
Season Elliott, 54 Development’s brand and public relations developer, said she looks forward to bringing more people to the area to enjoy what makes Albuquerque tick, especially for sports fans.
MORE: Proposed south campus sports and entertainment plaza gains traction once again
“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,” she 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.
54 Development is putting their best foot forward to make this a successful market and take it a step further, Elliott said. The team has put several hundred thousand dollars into architectural design, engineering and market research to ensure its success.
“We aim to create an area full of energy for the University and Albuquerque residents. This upfront investment will produce the final version of this project,” he said.
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They have signed a ground lease for a one-acre parcel on the west side of the University Stadium parking lot. 54 Development can utilize up to two acres of land, which may become necessary in the future.
The project is low risk because the capital requirements lie solely with the developers, Neale said. The University will lease the land to the business owners and take a percentage of the complex's gross sale, providing another revenue stream for UNM.
Market research is being conducted to determine what will be most successful in the area, Elliott said. 54 Development will provide consumers with six to 12 food and beverage offerings, some retail stores, and a variety of live entertainment options.
Some may be long-awaited brands that have not made it to the area yet or possibly totally new concepts, she said.
The two acres of the entertainment complex are still in phase one of development, Elliott said, and construction is expected to begin early 2017, while taking into consideration how athletic events and programs in the area can be immediately impacted.
The University will need approval from the Board of Regents before it can be used, Neale said. They hope to serve the surrounding community in a multitude of ways.
In a time when state and public funds are dwindling, UNM’s adaptability allows them to invent new revenue streams for the University. Administration is improving UNM's unused real estate assets by creating a commercial hub within the neighborhood.
The development aims to energize and revitalize the South Campus area and make it active 24/7, Neale said. Lobo Development wants to create an environment that students and the community will frequent before and after sporting events as well as in the off season.
“We believe this will breathe new life into this underserved area, especially during the times when there are no sporting events," Elliott said. "The student body will have a place to go that is close to home, safe, and will have many options for day and night activities. There are plans to provide free Wi-Fi and charging stations for guests."
If the board does approve the use of the remaining land, she said there are a lot of other underserved areas in the surrounding area with vast potential for business growth.
“This part of the city is greatly underserved in retail (and) lack of grocery stores, and there’s a number of lacking amenities and services,” she said.
This corridor is seeing large areas of growth, as Mesa Del Sol will soon develop 9,000 acres of real estate, Neale said. Lobo Development is using the opportunity by developing amenities in this unused space.
The developers hope to bring a combination of bars and restaurants to the area, Neale said. Former National Football League player and UNM football star Brian Urlacher is partnering with 54 Development to open a sports bar and grill.
The developers also want to add a live entertainment aspect to the development plans.
“They are working with national groups that promote concert venues and this will help bring more people to the area,” Neale said
UNM hosting music festivals would generate revenue and allow student communities and surrounding neighborhoods to be revitalized in an otherwise underutilized area, he said.
They are not the first to take on such a project, Neale said. Universities all over the country are partnering with public and private parties to utilize land that sits idle most of the time, except during major sporting events.
The entertainment complex will bring an influx of commercial traffic to the area, he said. This was taken into consideration when considering the appropriate land to break ground on.
“The parking lot at the Pit and the south lot will be available to visitors when there isn’t a major event and parking authority will direct traffic during sports games and events,” Neale said.
