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Millennials and Boomers are driving the Albuquerque Real Estate Market

By Steve Sinovic / Journal Staff Writer
Monday, March 21st, 2016 at 3:40pm
ALBUQUERQUE, N.M. — Millennials and baby boomers are driving both the single-family and multi-family marketplaces as demographics propel new developments by builders with Albuquerque ties.

Three speakers provided an overview Monday of their local projects during the annual residential real estate update hosted by the New Mexico chapter of NAIOP, the commercial real estate development association.
Whether it’s an apartment, assisted living or active adult community, they have seen the future and it is filled with amenities.

Peter Verdicchio, principal of the Austin-based planning and architecture firm SEC Planning, highlighted some of the work his firm has done for the master planned community Mirehaven on Albuquerque’s West Side. The development is comprised of nearly 300 acres with 950 home sites on tight lots. “It’s a hybrid product with traditional family and active-adult projects” courtesy of Del Webb and Pulte Homes, said Verdicchio. Enclaves within the development target millennials, young families and empty nesters.

A home marketed to boomers

Exterior of Del Webb Mirehaven – Journey Model for Parade of Homes. htaylor@abqjournal.com

Posted by: Blair Hart on March 23, 2016