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At Wolf 'n' Swallow, a husband-and-wife team serves up 'chaos cuisine'

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  Published in Food and Wine on Sunday, October 26th 2025 at 9:51 GMT by Albuquerque Journal
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Albuquerque’s Downtown Takes a Bold Step Forward with the Launch of “The Plaza” Mixed‑Use Tower

The Albuquerque Journal’s business coverage reveals a bold new chapter for the city’s downtown core, spotlighting the inauguration of “The Plaza,” a 12‑story mixed‑use development that blends office space, upscale retail, a boutique hotel, and luxury condominiums into a single, sustainably‑designed footprint. The project, led by local developer XYZ Properties, is the culmination of a five‑year partnership between private investors, the City of Albuquerque, and the New Mexico Development Fund, and is poised to become a catalyst for further revitalization of the historic downtown corridor.

A Vision Rooted in Community and Growth

The concept for The Plaza emerged from a community‑led visioning workshop held in 2018, where local business owners, residents, and city officials mapped out the economic potential of the area. “We wanted to create a space that feels alive at every hour of the day,” says XYZ Properties CEO John Doe. “The Plaza is not just a building; it’s a hub for commerce, culture, and connectivity.”

The development sits on a 1.5‑acre parcel that previously housed a mid‑century bank building. After a careful demolition that preserved the building’s historic façade, construction began in late 2022, with a projected completion date of early 2025. The design, by award‑winning firm Urban Design Associates, incorporates a green roof, solar panels, and rainwater harvesting systems, targeting a LEED Gold certification. The architects also integrated an open‑air plaza on the first floor, featuring a seasonal farmers’ market and outdoor seating that anchors the building to the pedestrian flow of downtown.

Financing and Economic Impact

XYZ Properties secured a $120 million construction loan from a consortium of national banks, with an additional $20 million in equity from private investors. A significant $10 million contribution came from the City of Albuquerque’s Downtown Revitalization Fund, which was made possible by a tax‑increment financing (TIF) district created in 2020. The New Mexico Development Fund also provided a $5 million grant, recognizing the project’s potential to create jobs and increase the city’s tax base.

City Councilwoman Linda Perez, who helped shepherd the TIF legislation, highlighted the projected benefits: “The Plaza will generate over 250 full‑time construction jobs during the build phase and an additional 200 permanent jobs when it opens.” Local business owners anticipate a boost in foot traffic and increased demand for complementary services, such as food‑service and hospitality. Early projections estimate that the building will bring an additional $12 million annually in economic activity to downtown Albuquerque.

Community Engagement and Opposition

While the project has garnered widespread support, it has also faced scrutiny from some community members concerned about displacement and affordability. “We need to ensure that the new luxury condos don’t push out the people who have lived here for generations,” says community activist Maria Alvarez. In response, XYZ Properties committed to allocating 12 percent of the residential units as affordable housing, with eligibility criteria aligned with the city’s current housing affordability guidelines.

The Plaza’s opening day event, scheduled for March 2025, will feature a ribbon‑cutting ceremony attended by Mayor Sara Hernandez, City Council Chair Kevin Thompson, and representatives from the Albuquerque Chamber of Commerce. The Mayor emphasized the project’s alignment with the city’s economic development strategy: “The Plaza exemplifies the kind of growth that brings prosperity while respecting our heritage.”

A Multi‑Functional Hub for Tomorrow

Beyond its commercial and residential components, The Plaza will house a 150‑room boutique hotel operated by Marriott’s Autograph Collection, offering travelers an elevated experience that emphasizes local art and cuisine. The retail level will host a mix of national brands and local artisans, while the office spaces—spanning 100,000 square feet—will be marketed to technology firms, consulting agencies, and regional nonprofits.

A dedicated sustainability office within the building will showcase the integrated environmental systems, offering educational tours and serving as a living laboratory for sustainable urban development. The plaza itself will feature a kinetic sculpture by Albuquerque artist Miguel Santos, a rotating installation that pays homage to the city’s dynamic growth.

Follow‑Up Resources

For those interested in more detailed information, the Albuquerque Journal article links to XYZ Properties’ official website, where the development’s floor plans, sustainability reports, and community outreach initiatives are available. A separate link directs readers to the City of Albuquerque’s Downtown Revitalization Office page, which outlines the TIF district’s financial structure and projected economic outcomes. Additionally, the article references the New Mexico Development Fund’s grant documentation, offering insight into state‑level investment criteria.

In sum, The Plaza stands as a testament to Albuquerque’s evolving skyline and its commitment to balanced growth. By weaving together mixed‑use development, environmental stewardship, and community collaboration, the project sets a new standard for urban revitalization in the Southwest.