This master plan of 174 acres is located in the desirable, growing city of Rio Rancho, New Mexico. Found on the southern part of the city, Los Diamantes is blessed with high quality surrounding schools, nearby shopping, and is a convenient drive to employment, freeways, downtown Albuquerque, and Sunport, the Albuquerque International Airport.
The plan calls for 578 single family detached homes, 30+ acres of mixed-use and Business Park and four acres of parks within the community.
Price was hired by a New Mexico development and investment firm to plan, entitle, monetize and lead the communications and negotiations for available Public Financing Tools (PID/TIDD) with the city of Rio Rancho. Financing was secured in the PPP in excess of 17 million dollars, for the Westside Boulevard Development Agreement, including a three million dollar city contribution for offsite sewer and water.
Over a fast-tracked 15 month period, Price has led the team of designers, attorneys, engineers, consultants, and contractors to help bring 578 single family lots to market in three phases, over the next 4 years. Price created the asset monetization strategy which includes designing the builder segmentation model, lot pricing, and all builder contract negotiations as well as created the bank financing package. Price has led negotiations, and successfully contracted 488 of the 578 lots to national builders DR Horton and Pulte Homes. Earthwork began in October 2020, with delivery of the first Phase One finished lots to Pulte and DR Horton in summer of 2021.