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.