News & Announcements
Sales of assets present opportunities for revenues,
mixed-use development, housing, and jobs.
The City of Santa Fe is now offering dormant or underutilized City-owned properties for sale to help address the shortage of housing in Santa Fe, offer new commercial spaces for employers interested in growth or relocation to the area, create jobs in the City’s booming construction sector, and raise revenues for City coffers.
The sales offerings are among the first major initiatives of the new Community Development Department's asset development team that evaluates City-owned real estate for possible sale. The team was assembled in December 2020.
Among the properties being offered for sale are one in the Railyard District -- 1614 Paseo de Peralta -- formerly home to Warehouse 21 -- and 228.5 acres of undeveloped land that comprise Las Estrellas at Santa Fe Estates, which opens for offers on Friday, January 22.
The Las Estrellas parcels are appraised at just over $4 million, and are located just west of the junction of US 84 and NM 599, near the Thornburg Investment campus. The deadline to submit an offer is March 23.
Las Estrellas is governed by a master plan approved by Santa Fe City Council in 2005. It includes requirements for senior and affordable housing, and for dedicated recreational and open space.
“These are all things Santa Fe desperately needs right now,” says Community Development Director Richard Brown. “We are focusing on a safe and equitable recovery from the impacts of the pandemic. This is a tremendous opportunity for the right developer, and for Santa Fe. It’s exciting to shepherd this vacant land into a tangible opportunity for Santa Fe’s future.”
The City has launched a new website at sfpublicassets.org as a directory for City-owned assets available for purchase. Most assets listed on the site will be available for private sale to any buyer with an offer that meets or exceeds appraised value, can demonstrate financial capacity, and agrees to any applicable plans and requirements. All sales will carry a public notice period, usually 60 days unless otherwise noted, and all sales are subject to approval by the Governing Body. More assets will be listed as the team completes analysis and due diligence on each.
The new asset development team of three includes Asset Development Manager Sean Moody, Assistant City Attorney Andrea Salazar, and Asset Development Associate Lauren Lucero. Moody has managed three of the City’s most high-profile economic development and revitalization projects: the $60 million Railyard redevelopment, the $45-million College of Santa Fe purchase/leaseback, and the $1-million Santa Fe Fiber municipal telecommunications network. Andrea Salazar has worked for two years in the City Attorney’s office, specializing in real estate, affordable housing, community services, and economic development. Before joining the City’s community and economic development department one year ago, Lauren Lucero served as a realestate appraiser for Santa Fe County and an urban land planning assistant at Santa Fe land planning firm Siebert & Associates.
“Structuring these offers as private sales allows us to be nimble and take advantage of opportunities we might not otherwise be able to,” says Moody. “And issuing the public notice ensures everyone has an opportunity to ask questions, voice concerns, or submit an offer. It’s a win-win.”
Media Inquiries: Contact Elizabeth Camacho, [bot protected email address];