News & Announcements
Railyard Flats promises to continue momentum of Railyard, ease market pressure
Mayor Javier M. Gonzales and District 1 Councilors Signe Lindell and Renee Villarreal attended a groundbreaking today on the Railyard Flats, a 58-unit, rentals only housing development in the Santa Fe Railyard.
According to the Railyard Corporation press release the building, located at 701 Camino de la Familia, will feature studios and 1- and 2-bedroom units geared toward the moderate range of the rental market.
Noting the challenge of a Santa Fe rental market where demand is far exceeding supply, Mayor Javier M. Gonzales said, “Projects like this one help us reach our goal of an economy that every Santa Fean has access to. That means more than just a job, it means a life in our beautiful city, and we’re excited to break ground on something that is going to make that more accessible to more people.”
Construction will begin at once and is targeted to wrap up in about a year, under the guidance of locally owned Lockwood Construction.
More from the Railyard Corporation release: The ground lease with the Santa Fe Railyard Corporation requires that the units be maintained as rental units for at least 25 years. The intent of the project is to provide quality, well-located rental housing for local Santa Fe residents. Railyard Flats will be within walking distance of the Santa Fe Farmers Market, Violet Crown Cinema, Railyard and nearby neighborhood shopping and dining, and commuter rail service at the Santa Fe Depot.
“After years of effort, we are gratified to witness ground-breaking for this important Railyard project. We would like to express our appreciation for Peter Aberg’s persistence throughout this entire process,” said Richard Czoski, Executive Director for the Santa Fe Railyard Community Corporation.
“I consider this a wonderful opportunity to bring moderate priced long term rental supply to the urban part of Santa Fe,” said Peter Aberg. “The site compliments the current uses in the Railyard as well as the surrounding area, and residents will clearly value the walkability to various businesses in the immediate area. We’re honored to be able to assist in securing the long term vision of a master planned development that incorporates all uses and will prove to be a significant gathering place for Santa Fe residents, and are especially pleased that Los Alamos National Bank (“LANB”), local contractor Lockwood Construction and local project management firm JenkinsGavin are leading the effort with us.”
Since 2002, the Santa Fe Railyard Community Corp. has been under contract with the city to implement the Railyard Master Plan and oversee all aspects of its management. Later this year SFRCC will oversee development of a mixed-use retail, office and restaurant project in the North Railyard which will complete the vision of a vital, dynamic hub of activity days, nights and weekends for all the citizens of Santa Fe. In addition, SFRCC has approved new condominium housing and an additional mixed use project in the Baca Railyard. At this time, there is only one lease parcel available for development in the North Railyard. Overall, the Railyard project is 90% leased and the current vacancy rate for existing buildings in the Railyard is only 6%.
Railyard Flats [pdf]
Photos from Groundbreaking, Railyard Flats Design Rendering