The following points summarize the Market Evaluation's findings of residential and commercial development potentials for four station areas along the Rail Runner corridor. Findings are grouped for the communities of Bernalillo (2 stations), Los Lunas, and the South Valley.
The development of a master plan for each station area is essential to synthesize the community vision and provide direction to developers.
The economic context of the Albuquerque region is strong and will generate robust demand for new residential units and commercial uses.
Specific sites within the station area are better positioned for redevelopment than others, based on market factors.
Strong partnerships between the public and private sectors are vital to successful station area development. There are responsibilities for both that should be addressed to implement the master plans effectively.
There are opportunities that will foster TOD growth within each community. There are also constraints that must be addressed.
There has been, historically, very limited market demand for higher density residential development in the Albuquerque Area. However, trends suggest that specific products geared to transit oriented development will be viable in the near term if priced right and designed well.