Instead of disproving the need for more retail, the presence of the new Walmart justified the zone change. The different jurisdictions were a factor in approval too. Walmart is in the City of Albuquerque and Las Estancias remains in the unincorporated county. The county has pushed to urbanize and has a tendency to compete for new development. This benefits development but its hard to see what race-to-the-bottom overbuilding does for anyone else.
Unless you’re a real estate broker, of course – or one of the “competitors vying for business space and a piece of the retail action.” But surely not all small businesses enjoy the prospect of jockeying around the real estate market for the lowest rent in the next half-baked shopping center. It’s sure a piss poor way to try and anticipate what public services are needed and where. You can’t manage what you don’t measure.
Wednesday, April 12, 2017
Real Estate Idiocy Never Ends in Albuquerque
Albuquerque's South Valley: