ALBUQUERQUE, New Mexico, February 16, 2022 /PRNewswire/ — Titan Development (“Titan”), the Southwest’s leading full-service real estate development and private equity firm, has opened Allaso Vineyards, a 111-unit Class A multi-family development located in Albuquerque, New Mexico. The 123,000 square foot project, which was announced in September 2021, will take about 14 months. Dekker/Perich/Sabatini is the project architect, HB Construction is the general contractor and Greystar will be the operator.
Located at the corner of Holly Avenue NE and Ventura Street NE off Paseo Del Norte Boulevard in the Northeast Heights neighborhood, the Allaso Vineyards apartments, which will be available in studio, one-bedroom and two-bedroom units, will offer luxurious amenities including quartz countertops. , 42 inch cabinets, stainless steel appliances and spacious open floor plans. In the spotlight from New Mexico A storied past as America’s oldest wine region, dating back to 1629 when monks planted the first wine grapes for religious ceremonies, the property will feature themed amenities such as on-site vineyards and a vineyard-inspired lounge that residents can book for wine tastings and other private events. The wine bar will include private wine lockers that can be rented for personal storage, and each resident will receive a bottle of private label wine upon moving in.
“Entering Allaso Vineyards, you will feel like you are entering one of the from New Mexico great vineyards,” said Josh Rogers, Senior Vice President at Titan. “The sophistication and warmth of the property is complemented by high-end amenities and a sought-after urban walk.”
Residents looking for an active, connected lifestyle will enjoy a resort-style pool and spa, rooftop terraces, elevators, play lawns, fire pits, style grills professional, a fountain, ramadas and an indoor-outdoor fitness area inspired by Crossfit gyms. The property includes two 3 story wood frame residential buildings and two one story wood frame garages. Conveniently located nearby are restaurants, grocery stores, Orange Theory Fitness, Walgreens Pharmacy and other retail destinations. Allaso Vineyards is also located in the Albuquerque The public school district and is served by Dennis Chavez Elementary School, Desert Ridge Middle School, and La Cueva High School, all of which are among the top performing schools in the state.
“Allaso Vineyards is a great opportunity to add quality accommodation inventory to the Albuquerque rental market. One of the reasons we decided to build for Titan is our shared commitment to thoughtful community development,” said HB Construction Vice President. Zach Gruen.
Upon completion, Allaso Vineyards will be Titan’s third development under the Allaso brand, a collection of experiential and luxurious multi-family communities in Albuquerque inspired by the spirit of each neighborhood and designed to meet the needs of adventurous residents seeking high-end apartments and seeking a special lifestyle. “Allaso”, derived from the Greek word “allasso”, translates to “change for the positive” or “transformation” and highlights Titan’s unique approach to apartment design and development. Titan plans to introduce its Allaso multi-family brand to new cities and apply the rigorous design, high quality standards and targeted themes appropriate for each neighborhood. Other Allaso properties in Albuquerque include Allaso Journal Center, inspired by the Albuquerque Journal and its founding in 1925, and Allaso High Desert, inspired by the Sandia Mountains and containing an adventure room where residents can rent mountain bikes, backpacks and snowshoes, as well than enjoy a range sedan, the first of its kind in the city.
Titan Development has an excellent track record of multi-family development throughout the Southwest, with ten completed projects, totaling 1,916 units and a total development cost of $323 million. Additionally, Titan is under construction or in development on eleven multi-family projects with a total development cost of $560 million in New Mexico, Texas, Californiaand Colorado. Titan plans to pursue additional developments in several states, including Arizona, California, Colorado, New Mexico, Texas and Florida.
The Allaso Vineyards project was funded by Titan Development Real Estate Fund II, which targets investment in multi-family and industrial projects.
About Titan Development
Titan Development is one of the South West’s leading full-service real estate investment and development companies with proven returns, across diverse asset classes in diverse geographic markets. Titan has achieved over $2.5 billion of project cost since the company was established in 1999. Titan Development has extensive property development experience across many asset classes, including investment and private equity fund management, and has offices at Austin, TXand Albuquerque, New Mexico.
Titan Development’s first private equity fund, Titan Development Real Estate Fund I (TDREF I), has been raised $112 million and invested in a variety of real estate asset classes. Titan Development Real Estate Fund II (TDREF II) raised $95 million and began in November 2020. TDREF II focuses on industrial and multi-family development in secondary and tertiary markets. TDREF II has committed 86% of total equity to twelve projects and has identified the remaining projects to begin construction in early 2022.
To learn more, visit www.titan-development.com.
Lambert & Co.
SOURCE Titan Development