Titan Breaks Ground on Vineyard-Themed Luxury Apartments in Albuquerque

ALBUQUERQUE, N.M., Feb. 16, 2022 /PRNewswire/ -- Titan Development ("Titan"), the Southwest's leading full-service real estate development and private equity real estate firm, has broken ground on Allaso Vineyards, a 111-unit Class A multifamily project located in Albuquerque, New Mexico. The 123,000 square foot project, which was announced in September 2021, will take approximately 14 months to complete. Dekker/Perich/Sabatini is the project architect, HB Construction is the general contractor and Greystar will be the operator.

Situated on the corner of Holly Avenue NE and Ventura Street NE off Paseo Del Norte Boulevard in the Northeast Heights neighborhood, Allaso Vineyards apartments, which will be available in studio, one-bedroom and two-bedroom layouts, will offer luxurious amenities including quartz countertops, 42-inch cabinets, stainless-steel appliances and spacious open floorplans. To honor New Mexico's historic past as the oldest wine region in America, dating back to 1629 when monks planted the first wine grapes for use in religious ceremonies, the property will feature themed amenities such as grapevines on-site and a winery-inspired lounge that residents can reserve for wine tastings and other private events. The wine lounge will include private wine lockers that can be rented for personal storage, plus each resident will be given a private label bottle of wine upon move-in.

"Coming home to Allaso Vineyards will feel like walking into one of New Mexico's great wineries," said Josh Rogers, Senior Vice President at Titan. "The sophistication and warmth of the property is complemented by high-end amenities and sought-after urban walkability."

Residents looking for an active, connected lifestyle will enjoy a resort-style pool and spa, rooftop decks, elevators, game lawns, fire pits, professional-style grills, a fountain, ramadas and an indoor-outdoor fitness area inspired by Crossfit gyms. The property features two wood-frame, 3-story residential buildings and two wood-frame, 1-story garage structures. Conveniently located nearby are restaurants, grocery stores, Orange Theory Fitness, Walgreens Pharmacy and other retail destinations. Allaso Vineyards is also located within the Albuquerque Public Schools district and is served by Dennis Chavez Elementary School, Desert Ridge Middle School and La Cueva High School, all of which are among the top performing schools in the state.

"Allaso Vineyards is a great opportunity to add quality housing inventory to the Albuquerque rental market. One of the reasons we gravitated to building for Titan is our shared commitment to thoughtful community development," said HB Construction Vice President Zach Gruen.

Once completed, Allaso Vineyards will be Titan's third development under the Allaso brand, a collection of experiential, luxury multifamily communities in Albuquerque inspired by the spirit of each neighborhood and tailored to cater to adventurous residents looking for high-end apartments and seeking a special lock-and-leave lifestyle. "Allaso," derived from the Greek word "allasso," translates to "change for the positive" or "transformation" and highlights Titan's unique approach to apartment design and development. Titan plans to introduce its Allaso multifamily brand to new cities and apply the rigorous design, high quality standards and targeted themes appropriate for each neighborhood. Other Allaso properties in Albuquerque include Allaso Journal Center, inspired by the Albuquerque Journal and its founding in 1925, and Allaso High Desert, inspired by the Sandia Mountains and containing an adventure room where residents can rent mountain bikes, day packs and snowshoes, as well as enjoy an indoor driving range, the first of its kind in the city.

Titan Development has an excellent multifamily development track record throughout the Southwest, with ten completed projects, totaling 1,916 units and a total development cost of $323 million. In addition, Titan is under construction or under development on eleven multifamily projects with a total development cost of $560 million in New Mexico, Texas, California, and Colorado. Titan expects to pursue additional developments in multiple states, including Arizona, California, Colorado, New Mexico, Texas and Florida.

The Allaso Vineyards project was funded by Titan Development Real Estate Fund II, which targets investments in multifamily and industrial projects.

About Titan Development
Titan Development is a leading Southwest full-service development and real estate investment firm with proven returns, via diversified asset classes across varied geographic markets. Titan has completed more than $2.5 billion in project cost since the firm was formed in 1999. Titan Development has a wealth of real estate development experience in many asset classes including private equity fund investment and management, and has offices in Austin, TX, and Albuquerque, NM.

Titan Development's first private equity fund Titan Development Real Estate Fund I (TDREF I) raised $112 million and invested in a variety of real estate asset classes. Titan Development Real Estate Fund II (TDREF II) raised $95 million and commenced in November of 2020. TDREF II focuses on industrial and multifamily development in secondary and tertiary markets. TDREF II has committed 86% of the total fund equity to twelve projects, and has identified the remaining projects which will commence construction in early 2022.

To learn more, please visit www.titan-development.com.

Media Contact:
Lambert & Co.
Lisa Baker
[email protected] 
603.868.1967

SOURCE Titan Development