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BernCo Approves Economic Incentives for New Hotel Chaco

05/13/2015
Andy Lenderman

The Bernalillo County Commission  on May 12 approved a $40 million industrial revenue bond package that clears the way for construction of a new hotel in Albuquerque’s Old Town neighborhood. The Hotel Chaco will be built next to Hotel Albuquerque at 800 Rio Grande Blvd. NW. Developers also intend to construct a new artisanal food market, Sawmill Market. Both projects are expected to create 215 permanent jobs over time. During the building phase, the project is expected to create 543 temporary construction jobs.

“Bernalillo County is proud to support new construction and tourism jobs, which are major economic drivers throughout New Mexico,” District 1 Commissioner Debbie O’Malley says. “I’m confident Hotel Chaco will prove to be a world-class gateway for visitors from all over the world to experience New Mexico heritage and culture.”

The bonds are privately financed and enable the developer, Hotel Albuquerque Tenancy and Sawmill Bellamah Properties, LLC, to be exempt from certain taxes. The county will hold title to the property until the developer repays the bondholders.

Hotel Chaco will include 118 guestrooms, a rooftop event terrace, conference rooms, a restaurant, spa and outdoor pool.

Developers intend to ask the county to support a separate $10 million industrial revenue bond to support construction of the Sawmill Market later this year.

Since 2010, the Bernalillo County Commission has supported 20 projects that have created more than 2,000 new jobs and more than $200 million in new private investment activity.

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  • Please be advised that the Bernalillo County Code of Conduct Review Board will meet on Thursday, Feb. 22, 2018, at 2 p.m. The meeting will be held in the Albuquerque/Bernalillo County Government Center, 10th Floor, Conference Room B; One Civic Plaza NW, Albuquerque, NM 87102.
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    Albuquerque/Bernalillo County Government Center, 10th Floor, Conference Room B; One Civic Plaza NW, Albuquerque, NM 87102
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  • The County Development Review Authority meets on the second and fourth Thursday of the month, 9 a.m., 111 Union Square St. SE, 87102, First Floor Conference Room.
    Location:
    111 Union Square St. SE, 87102, First Floor Conference Room
    Time:
    3/8/2018 9:00 AM

Upcoming Events
  • The County Development Review Board meets on the second and fourth Thursday of the month, 9 a.m., 111 Union Square St. SE, 87102, First Floor Conference Room.
    Location:
    111 Union Square St. SE, 87102, First Floor Conference Room
    Time:
    2/22/2018 9:00 AM

  • Please be advised that the Bernalillo County Code of Conduct Review Board will meet on Thursday, Feb. 22, 2018, at 2 p.m. The meeting will be held in the Albuquerque/Bernalillo County Government Center, 10th Floor, Conference Room B; One Civic Plaza NW, Albuquerque, NM 87102.
    Location:
    Albuquerque/Bernalillo County Government Center, 10th Floor, Conference Room B; One Civic Plaza NW, Albuquerque, NM 87102
    Time:
    2/22/2018 2:00 PM

  • The County Development Review Authority meets on the second and fourth Thursday of the month, 9 a.m., 111 Union Square St. SE, 87102, First Floor Conference Room.
    Location:
    111 Union Square St. SE, 87102, First Floor Conference Room
    Time:
    3/8/2018 9:00 AM

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