The long-promised Uptown Connect project at Albuquerque's Uptown transit hub is finally inching toward construction, though it's a smaller project than it used to be.
According to The Paper., the project secured $31.2 million in new financing in September. The New Mexico State Board of Finance approved $23.8 million in private activity bonds on Sept. 15, and the Housing New Mexico Mortgage Finance Authority board approved $7.4 million in loans on Sept. 16.
"Our team is passionate about this project and the connectivity to housing, jobs, and transit it will bring to the Uptown area," ABQ RIDE Deputy Director Bobby Sisneros said in the city's announcement.
Smaller and cheaper
The project looks different on paper than it did a year ago. Last September, The Paper.'s City Desk reported Uptown Connect was expected to cost about $120 million and include 239 apartments, 203 of them affordable. The city's latest plans show 198 apartments, with 176 affordable units and 22 market-rate units. The current cost is about $111 million.
The city's September announcement describes it as a 176-unit mixed-rate rental project, which lines up with the affordable count. The full unit count, including market-rate apartments, is 198.
The county's share has shrunk too. Back in August 2025, Bernalillo County had authorized up to $46 million in project revenue bonds. On Sept. 22, county commissioners unanimously approved up to $23.8 million instead. The county also approved a 17-year property tax exemption.
What's planned
Uptown Connect will replace the ABQ RIDE transfer station. Plans call for two five-story buildings, a parking garage, a public plaza and more than 18,000 square feet of ground-floor commercial space.
The city says the project is led by ABQ RIDE in partnership with private developer Palindrome and co-developer Family Housing Development Corporation, along with the city's Department of Health, Housing and Homelessness. A Housing New Mexico public notice puts the site at 2121 Indiana Street NE and part of 6501 Indian School Road NE, on about 1.9 acres that are now a parking lot and bus stop. The same notice says the sponsor is also seeking federal housing vouchers and block grant funds through the city, plus federal HOME and National Housing Trust Fund money through Housing New Mexico, so more pieces of the financing puzzle may still be in the works.
"We hope this project becomes an example of how transit-oriented developments can work in the City of Albuquerque," said Jordan Barela, deputy director of housing and community development for the city's Department of Health, Housing and Homelessness.
The timeline has slipped. The city had previously listed a summer 2026 groundbreaking, but the county now expects construction to start in the first quarter of 2027. County documents estimate construction will take about two years.
Why it matters for Contractors
This is one of the more complex jobs on Albuquerque's horizon. Two five-story buildings, a parking garage, a public plaza and ground-floor retail space on a working transit site add up to a lot of moving parts. Expect heavy concrete for the garage, structural and framing work above, and a full range of mechanical, electrical, plumbing, fire protection and finish trades. The commercial space will need its own build-outs down the road.
Building on top of an active transit hub also means careful phasing. Buses and riders don't stop just because a crane shows up, so traffic control, temporary facilities and tight staging will be part of the job.
No general contractor has been named publicly, and we aren't naming one here. With construction now aimed at early 2027, bid packages could start moving in the coming months, so subs should keep an eye on the developers and ABQ RIDE. Contractors with experience on garages, podium buildings or public projects will be in a good position when the work goes out.
The shrinking unit count is also worth noting. The coverage doesn't spell out why the project was cut back, but fewer apartments, a lower price tag and a smaller county bond all point to a project being reworked to fit the money available.
The good news for contractors is that the financing is finally lining up. With bonds, state loans and a county tax break in place, Uptown Connect looks closer to breaking ground than it has in a long time.