JV Starting Work on OZ BTR Investment in Albuquerque
LaTerra Development has joined forces with experienced Opportunity Zone investor Revitate to break ground on Bedrock, a new Build-to-Rent community in Albuquerque. Revitate has led or co-led over 15 opportunity zone projects in excess of $1.4 billion in project value. The project investment on Bedrock is expected to be over $100 million.
As New Mexico’s largest residential project within a Qualified Opportunity Zone, Bedrock will feature 202 townhomes and 142 single-family detached homes with co-working areas, pet-friendly parks, BBQ areas, pools, fitness centers, spas and a clubhouse.
The project will be built at Woodmont Avenue and Paseo del Norte. LaTerra’s Charles Tourtellotte likes the location, “Albuquerque is a region that is positioned for ongoing economic development and Bedrock allows us to create jobs, invest in the community and expand access to housing options.”
There are numerous significant employers within a half-hour drive of the property, including Netflix, NBC Universal, Amazon, Intel, Sandia Labs, and Meta.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.