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Copyright © 2021 Albuquerque Journal
SANTA FE – The future of Santa Fe’s coveted Midtown campus remains a mystery, but many of its current buildings may not survive.
KDC Real Estate Development and Investment/Cienda Partners, the former master developer of the Midtown campus, announced Jan. 21 it would terminate its agreement with the city of Santa Fe because the 64-acre campus had “no commercial value.”
Due to that lack of value, some buildings would likely have to be removed. KDC/Cienda recommended the city demolish 17 buildings on the campus, while preserving eight for any future use, according to a KDC/Cienda report obtained by the Journal.
January 28 Santa Fe City Council voted unanimously to mutually end an exclusive negotiation agreement with Midtown campus master developers KDC/Cienda Partners during a special meeting Thursday evening. It s been exactly a week since the city announced it had received a letter from the Dallas-based developer asking to exit the agreement due to COVID-19 and significant infrastructural problems on the site. The pressure to do something with the campus now hangs over the last year of Alan Webber s term as mayor as the city continues to battle the economic and social impacts of the pandemic. Meanwhile, the city still has $32 million in debt on the 64-acre property and is paying $1.7 million every year it stands largely vacant.
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