news@dailylobo.com
Lobo Village residents may see more commercial spaces around UNM’s south campus by 2013, as the University is in the process of negotiating with a number of restaurants and retail stores about developing the area.
UNM Director of Real Estate Kim Murphy said that because of the dense student and faculty population on south campus, there is critical need for commercial spaces in the area. He said 900 students are set to move into Lobo Village by next year, in addition to the 1.3 million people who visit sports complexes in the area, such as The Pit, each year.
“We have a pretty sizable population down there that need services,” he said. “We have very little capacity to serve these folks.”
Murphy said the University is planning to develop three sites near south campus, including a 4.3-acre lot and a 1-acre lot near Avenida Cesar Chavez, into a site for restaurants and coffee shops. He said a 45-acre lot between Gibson and the baseball field may be the site for a shopping center.
But Murphy declined to provide specific names of businesses that plan to invest in the project. He said the project is only in its early planning stages, and that the University is writing a master development plan with Ohio-based developer, Fairmount Properties.
Fairmount Properties representative Adam Fishman said that although there is still no specific timeline for the projects, construction is set to begin sometime next year. He said he expects the projects to cost about $50 million, which will come from individual businesses that decide to invest on the projects.
Fishman said Fairmount is working with the University to compile necessary documents and complete feasibility studies for the project. He said the planned commercial spaces will provide students with local restaurants and sports bars, in addition to services, such as dry cleaners and banks.
“I think (the projects) will help students, faculty and the neighborhood by providing much-needed retail services and social gathering places,” he said. “We are in the business to help accomplish students’ hopes and dreams.”
Fishman said the projects will bridge the gap between the University’s main campus and south campus and Central New Mexico Community College’s main campus on University Boulevard. He said this will establish a more interactive student body.
“A campus, in a sense, is a community (and) is a village,” he said. “There will be more opportunities for students to socialize and improve their campus experience.”
Murphy said the University has considered building commercial spaces in the south campus area since construction for Lobo Village was completed in 2011. But he said because of financial reasons, the University was forced to postpone plans.
Get content from The Daily Lobo delivered to your inbox
“We’ve had thoughts for several years now since Lobo Village started,” he said. “It’s been a challenging time with the economy in near-meltdown stage, but we’re starting.”
But Murphy said that before the project can break ground, the master development plan must first be approved by the Board of Regents. He said the board is set to discuss and make a decision on the project in December.
