The two Bernalillo stations are positioned to become concentrated nodes of mixed-use development that generate a regional draw.
Factors impacting the market for TOD in the Downtown Bernalillo and Sandoval County / U.S. 550 station areas - both positively and negatively - include:
- Connectivity - Pedestrian and bicycle paths that connect a series of properties to the stations will help offer the opportunities created by the Rail Runner to a broad section of the community.
- Constraints - Limited land supply, property aggregation, the resistance for businesses to leave the U.S. 550 corridor, and the shift to higher density development are challenges that will need to be addressed.
- Historic Character and Authenticity - As new developments provide walkable town centers, few will be able to compete with an authentic town center with truly historic structures.
- Land Supply and Parcel Size - Some larger parcels are available, but land assemblage of small lots will be necessary. There are few sites for medium- to large-scale builders to further the current momentum.
- Market Readiness - Interviews with developers of condominiums and townhomes suggest that Bernalillo is ripe for TOD in the near term.
- Multiple Markets - Bernalillo's location between Santa Fe, Albuquerque and Rio Rancho places it in an ideal spot to appeal to buyers from multiple markets.
- Neighboring Expenditure Potential -The right design of new mixed-use development will enable Bernalillo businesses to capture retail expenditures from the communities to the east and west, which traditionally have not patronized Town businesses.