THINGS ARE HAPPENING
IN NEW MEXICO
STATUS: UNDER DEVELOPMENT
This single family home, multi-family and commercial masterplan of 105 acres is located in NW Albuquerque. Found within a Qualified Opportunity Zone, The Trails is currently planned for 245 single family detached homes as well as a 333-unit garden-style apartment neighborhood and a community commercial area.
Price has been entrusted to plan, entitle, monetize and develop all 105 acres for a private equity firm, PacVentures, of San Diego, California. Leading a premier team of designers, engineers, attorneys, and other professional consultants and contractors over twelve months has brought the first phase, 245 single family lots, to market. All 245 single family lots are contracted, entitled and under development to sell to Abrazo Homes, DR Horton and Hakes Brothers. In August, 2020, Hakes Brothers, a well-respected New Mexico builder, will take possession of the first delivery of finished lots.
Price created the asset monetization strategy including designing the builder segmentation model, lot pricing, all builder contract negotiations, and creation of the bank financing package for PacVentures. Price continues its work with PacVentures with such critical items as asset monetization of the remaining 50 acres designed for multi-family, senior housing, and neighborhood commercial uses.
Associates include Kimberly Byrum of Meyers Research, Greystar and Humphrey’s Architecture, and others are currently collaborating with Price on the design and development of the 333 garden-style apartments to be built and owned by PacVentures.