Lobo Crossing launches with celebratory groundbreaking

A vision years in the making moved one step closer to reality as The University of New Mexico, along with city and state leaders gathered in the Club-Level Lounge at The Pit - Powered by Nusenda with community stakeholders to celebrate the recent groundbreaking of Lobo Crossing, a transformative South Campus development that will bring new retail, grocery and dining opportunities to Albuquerque while strengthening UNM's growing sports and entertainment district.

UNM finalized the agreement for Lobo Crossing with SimonCRE in April, allowing Phoenix-based commercial real estate developer to move forward with the purchase of 38 acres of university-owned land near UNM's sports facilities for the development. The sale to SimonCRE included the requirement that the developer secure Target as the anchor tenant and the project be constructed in accordance with plans approved by UNM. The project is finally underway with site preparation and infrastructure work following years of meetings, a pandemic and subsequent relaunch of the effort in 2022. Construction is expected to be completed in fall 2027.

"The construction fences and the shovels going into the ground are a declaration that UNM believes in the city, believes in this neighborhood, and believes our south campus deserves to be something extraordinary," said UNM President Garnett Stokes, who first heard about the South Campus Tax Increment Development District (TIDD) in 2019 an effort that has enabled the project to move forward.

"It is investment not only in buildings and infrastructure, but in people, opportunity and community. It strengthens the connection between our campus and the city that surrounds it. It creates new possibilities for students who will live, learn, and build their futures here," said Stokes. "It demonstrates in a very visible way the role The University of New Mexico plays as an anchor institution, deeply rooted in this place and committed to New Mexico's future."

Stokes also thanked the many partners and supporters of the project including the UNM Board of Regents, the New Mexico Board of Finance, State Legislature, Gov. Michelle Lujan Grisham, Bernalillo County, the City of Albuquerque and Mayor's office, and Lobo Development Corporation and Board of Directors for its persistence in bringing Lobo Crossing to fruition.

Lobo Crossing will be the first major multi-tenant retail center built in the metropolitan area in more than 20 years. The project will bring much-needed retail, grocery, and dining options to a significantly underserved area of the city. It supports the continued growth of the South Campus Sports and Entertainment District and aligns with the South Campus TIDD. Without the South Campus TIDD structure and the ability to fund the public infrastructure needed to support this development, the project would still be a vision.

"This is not just another retail project for us or for the city," said Josh Simon, president, SimonCRE. "A project of this scale has not happened in Albuquerque for over 20 years. Candidly, very few projects are built across the country right now of this scope because economics are so difficult. Capital is expensive, construction costs are high, infrastructure is complicated. Large scale retail development does not happen by accident. This is why the South Campus TIDD matters so much. To UNM, thank you for thinking long term about South Campus and for trusting us to help bring this vision to life."

The 365,000-square-foot development will be anchored by Target, a leading national food and general merchandise retailer, along with approximately 10 junior anchor tenants, including smaller retailers, service providers, and restaurants, creating a dynamic mix of offerings designed to serve students, fans and nearby neighborhoods. Renderings show a walkable, open-air environment with integrated pedestrian pathways, gathering spaces and a modern retail layout that complements the surrounding campus and athletics facilities. However, the project itself came with significant challenges including terrain, drainage, utilities, access, traffic, zoning, approvals, timing and financing as it wound its way to final approval.

"This is an important milestone for the South Campus TIDD and represents more than just the start of vertical construction," said Lobo Development Chief Operating Officer Tom Neale. "It reflects years of planning, collaboration, partnership, and shared vision among the public and private partners who believe this in this long term initiative. Lobo Crossing is a significant retail project and development that will bring new energy, highly desired retail and services, and increase activity to the surrounding community. The project represents an important investment in the future of Albuquerque and demonstrates what can be accomplished when we all work together."

Albuquerque Mayor Tim Keller cited the importance of the project on two fronts including one of the first impressions visitors to the city see when they arrive at the Albuquerque International Sunport. There's a heavy amount of local traffic along the Gibson Blvd. corridor whether its local traffic or visitors from out of town. Additionally, Lobo Crossing will provide much needed amenities to the local neighborhoods including the South Valley and Los Lunas.

"This is transforming one of the front doors to our city for visitors and locals in this neighborhood," said Keller. "This is lifting up neighbors around and saying that we care about you. You are going to have the same amenities as other parts of town. It's also about solving some major nutrition and food access issues that we have in this area. This truly is transformational and that's why I'm so grateful that everyone at UNM and Lobo Development Corporation is also actually making it happen."

University leaders emphasize that Lobo Crossing is just the beginning of the transformation of UNM's South Campus.

"This project represents confidence in the future of Albuquerque. It represents confidence in the future of The University of New Mexico and it represents confidence in the idea that our South Campus can become an even more vibrant destination for learning, recreation, commerce and community life," said Teresa Costantinidis. "For UNM, this project is also a reflection of something bigger. We often say that we are The University for New Mexico. Our responsibility is not just to educate students, conduct research, and serve our patients. Our responsibility is to help strengthen the communities we serve, create opportunities for future generations, and contribute to the economic wellbeing of our state."

For more information, visit Lobo Crossing.