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Revitate and LaTerra Development Start Work on Needed Housing Project in Albuquerque, NM

11/30/23

Revitate and LaTerra Development broke ground on a new opportunity zone, build-to-rent community called Bedrock at the Trails in Albuquerque, N.M. Bedrock will feature 199 townhomes and 145 single-family homes. The development is within walking distance to several quality public schools and sits approximately 20 minutes from downtown Albuquerque.

Residents will enjoy the surrounding area near the Petroglyph National Monument, which has about 7,200 acres of cultural and national resources, with an estimated 24,000 carved images by ancestral Pueblo peoples and early Spanish settlers. Bedrock is also just six miles from the extensive trail network of the Bosque which runs along the famous Rio Grande River.

Albuquerque currently stands as the city with the lowest number of apartments under construction of any major metropolitan area in the Western U.S. As a result, the demand for housing in and around Albuquerque is projected to outpace new supply, particularly in the rental market. The region is bolstered by a business-friendly environment, including world-class universities and research facilities as well as industrial development and renowned employers such as Amazon, Netflix, Intel and NBCUniversal.

“Northern New Mexico is going through a dramatic renaissance, backed by a booming film industry and high-tech companies in aerospace and bioscience,” said Rob Lang, Revitate’s Managing Director for Commercial Real Estate. “It fits perfectly into our strategy regarding opportunity zones – integrating positive social and economic impacts through tax-incentivized development projects.”

Bedrock represents the fifteenth opportunity zone investment led or co-led by Revitate principals Alex Bhathal and Lisa Merage since 2018.





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