Latest news with #AspectMediaVillage
Yahoo
04-04-2025
- Business
- Yahoo
Santa Fe breaks ground on affordable housing and mixed-use development
SANTA FE, N.M. (KRQE) – Shovels hit the ground on a new multi-million dollar residential and mixed-use development in Santa Fe. The city said it's designed with creatives in mind. Story continues below Crime: Third grade Farmington teacher arrested in connection to husband's stabbing death Entertainment: Japanese retailer Daiso sets opening date for first Albuquerque store Traffic: Albuquerque speed cameras are slowing drivers but less than half of tickets are paid Phase one of the Aspect Media Village kicked off with the ground-breaking of Arthouse, which is a 129-unit apartment building. Developers and city officials said the plan for the 21-acre of land will help revitalize Santa Fe's midtown corridor. 'One of the biggest challenges in Santa Fe is finding affordable housing, and not just for locals, but also for productions that come in from out of town. And so when a production comes in, they may have 20, 30, 50 people that all need housing,' said Philip Gesue, principal developer of Aspect Media Village. The mixed-use property will have affordable housing units as well as a film production studio, soundstages, and eateries, including renovations to existing spaces such as the movie theater. The city said it'll make Santa Fe an affordable and accessible hub for those up and coming in the film industry. 'If we're going to make Santa Fe a place that, for the future, has a diverse and welcoming population of people who work across the board, housing is our number one priority,' said Santa Fe Mayor Alan Webber. The development is taking place on 21 of the 60 acres of land at the former site of Santa Fe University of Art and Design, which closed back in 2018. Developers anticipate completing the first phase of this project in just one year. The remaining 40 acres of land are still up for grabs. The City of Santa Fe is still collecting requests for proposals to sell and repurpose those lots. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
01-04-2025
- Business
- Yahoo
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.
