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10-22-2007, 10:20 AM
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Civi Imperium Romani
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Join Date: Dec 2006
9,909 posts, read 7,742,045 times
Reputation: 5959
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New Apartments to Break Ground
I was reading in the ABQ Journal today about 2 new apartment complexes slated to be built starting in early 2008 at 98th and I-40. Also a new one just broke ground and being built at Uptown. Anyways its more choices in the future as to where to live especially on the fast growing westside and the recient businesses that have opened or will open like Tempur Pedic, Eclipse Aviation and Tesla Motors etc...and also for us in the industry its more places of employment  .
The Housing slowdown will have a positive effect on the apartment industry according to the Business Section article in todays paper. |
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10-22-2007, 11:16 AM
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a happy camper
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Join Date: May 2007
Location: the great SW
1,730 posts, read 1,518,993 times
Reputation: 411
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What I find interesting is the newer apartments out there in ABQ are as expensive as the ones here in FL (new 1 bdrm ABQ is $850-$900/mo, here it's $900-$950/mo). Our high prices are due mainly to commerical property tax rates and commercial insurance rates. What's causing the high prices on newer apartments out there?
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10-22-2007, 05:07 PM
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Civi Imperium Romani
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Join Date: Dec 2006
9,909 posts, read 7,742,045 times
Reputation: 5959
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Quote:
Originally Posted by yukon
What I find interesting is the newer apartments out there in ABQ are as expensive as the ones here in FL (new 1 bdrm ABQ is $850-$900/mo, here it's $900-$950/mo). Our high prices are due mainly to commerical property tax rates and commercial insurance rates. What's causing the high prices on newer apartments out there?
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What are some of the names Yukon. I just checked the apartment guide and the nice ones i know of are going for the 600 to 700 range. |
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10-22-2007, 10:31 PM
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a happy camper
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Join Date: May 2007
Location: the great SW
1,730 posts, read 1,518,993 times
Reputation: 411
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One I have bookmarked is Pinnacle High Desert, FP I like is $775-$885, that's high even by Tampa standards, for a one bedroom. Wonder if ABQ has high property taxes on commercial property? (or probably the complex is full of folks from other cities used to paying that price, complex knows they can ask and get it?)
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10-23-2007, 06:50 AM
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available for Drive-by-sarcasm
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Join Date: May 2007
Location: Albuquerque
2,822 posts, read 1,954,301 times
Reputation: 856
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yukon asked about:
> One I have bookmarked is Pinnacle High Desert, ....
I lived there about ten years ago. It is the highest apartment
you can live in - in the Albuquerque area - about 6050 ft.
It is only accessable by bus via an express bus or a one-mile walk.
It has both attached garages and separate buildings for garages.
It is surrounded by homes starting near $500k. I think they are
charging for the location, but the rent is the same as it was when
I lived there in 1997-1998.
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10-23-2007, 07:42 AM
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a happy camper
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Join Date: May 2007
Location: the great SW
1,730 posts, read 1,518,993 times
Reputation: 411
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Ah, that explains it, mortimer. Location, location, location. Thanks!
It's a good economic sign that developers are willing to build more apartments.
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10-26-2007, 04:49 PM
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Senior Member
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Join Date: Jun 2007
1,520 posts, read 769,679 times
Reputation: 641
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Quote:
Originally Posted by yukon
What's causing the high prices on newer apartments out there?
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