Albuquerque’s SureStay Hotel is soon to be renovated into efficiency and one-bedroom apartments, providing 100 units of affordable housing for low- and moderate-income households. The City of Albuquerque finalized the purchase with a contribution from the State of New Mexico totaling $3 million, which will be matched by Covid-related funding from the City. Upon completion, an onsite services coordinator will connect future residents to resources while expanding Albuquerque’s portfolio of affordable housing units by 20%. SMPC Architects based in Albuquerque are handling project architecture while an RFP for an oncall contractor closed last week and is currently under review. Construction is estimated to begin next month and take six to nine months.
Principal Asset Management Buys 386K-SF Novera Commerce Center in Westminster Pre-Delivery
Principal Asset Management has acquired the 386,000-square-foot Novera Commerce Center in Westminster in a forward sale completed before construction of
Steve Griffin
October 12, 2026
