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Posted 15 Oct 13 By: No comments yet

First Baptist Church site on the market – ABQ Business First

First Baptist Church site on the market after years sitting idle

It’s a prime piece of real estate on the edge of Downtown Albuquerque, but has been a magnet for transients in recent years.

Now it’s on the market after being under a contract option with Albuquerque Public Schools for several years.
The vacant First Baptist Church at 101 and 109 Broadway Blvd. NE is being listed by NAI Maestas & Ward for $7.5 million. It has almost 87,000 square feet of building space on seven acres of land. The University of New Mexico is trying to get a $1.5 million grant from the U.S. Economic Development Administration to put toward buying the property for its Innovate ABQ incubator, and the city is trying to get bonds approved to help out.

Maestas brokers Keith Meyer and Jim Wible said they have been showing the property to a few interested parties, and think the Innovate ABQ idea would fit the property well.

“Innovate ABQ is a great thing and could be a great project,” Meyer said. “We as professionals and residents are supportive of that, we think it would grow jobs and it has been shown to work in other communities as well. [UNM President] Dr. [Robert] Frank is spot on and the mayor is on board too.”

The Innovate ABQ idea would include companies, entrepreneurs and investors looking to evaluate new technology business opportunities. It could include residential living space and amenities for the workers who benefit from the new jobs created, according to UNM

The EDA grant to UNM is pending, EDA's John Atwood said Monday afternoon.
Meyer and Wible said it is an open question as to whether First Baptist’s buildings, mostly built in the 1970s, could be used after a rehabilitation or would end up being demolished.

Albuquerque’s First Baptist Church opened new facilities on the city’s Westside about seven years ago at 4101 Paseo del Norte NW.

Meyer said the site is significant.

“You have to think about the entire site. It’s seven acres in the main downtown corridor near the largest university in the state and adjacent to the convention center,” he said. “It is a linchpin between Downtown and East Downtown. We want to be the catalysts to bring interested parties together on this property.”

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