LaTerra Development has partnered with experienced Opportunity Zone investor Revitate to begin construction on Bedrock, a new Build-to-Rent community in Albuquerque. With over 15 opportunity zone projects worth more than $1.4 billion under their belt, Revitate is well-versed in this type of investment. The project’s total cost is estimated to exceed $100 million.
As the largest residential development within a Qualified Opportunity Zone in New Mexico, Bedrock will consist of 202 townhomes and 142 single-family detached homes featuring co-working spaces, pet-friendly parks, BBQ areas, pools, fitness centers and spas. Additionally,a clubhouse will be available for residents’ use.
Located at Woodmont Avenue and Paseo del Norte,the project’s location was carefully chosen by LaTerra’s Charles Tourtellotte due to its potential for ongoing economic growth.”Albuquerque offers great opportunities for job creation,and through Bedrock we can contribute to the community while providing more housing options,” he stated.
The property boasts easy access to numerous major employers such as Netflix,NBC Universal,A mazon ,Intel,Sandia Labs,and Meta—all within a half-hour drive from the site.This makes it an ideal location for prospective tenants looking for convenient employment opportunities nearby.
