A lot is riding on potential success of Aspect Media Village on midtown campus
It's not often that a groundbreaking ceremony for a new apartment complex draws the kind of attention that last week's event for the ArtHouse apartments did in Santa Fe.
Then again, this is no run-of-the-mill multifamily housing project.
The ArtHouse is just part of the larger Aspect Media Village development being executed by PE Real Estate Holdings LLC. PE is the company that contracted with the city of Santa Fe to develop the first phase of the midtown campus, the former home to the now-defunct Santa Fe University of Art and Design.
Midtown 1
Phillip Gesue, a principal at PE Real Estate Holdings LLC, the developer of Aspect Media Village, stands at the 2-acre site Thursday where a 129-unit apartment complex is being built on the former Santa Fe University of Art and Design campus.
The first phase includes not just the 129-unit apartment project, but also a film studio, a theater, a restaurant and an additional apartment complex with approximately 120 units. Full details on the project can be found in a story in the Business section of Tuesday's New Mexican.
Aspect Media Village is key to the city's plan to unlock development in midtown, and it is clear a lot of folks will be watching how phase one unfolds with great interest. A variety of city officials attended the groundbreaking ceremony, including Mayor Alan Webber, who described it as a 'cornerstone' project for the future of midtown.
PE's Phillip Gesue acknowledged it has been a long road to getting the project started. But he seems to believe Aspect Media Village will be only the start of something special for the district by the time most of the phase one projects are up and running next summer.
'The pump is primed, let's say,' Gesue said.
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