City of Albuquerque officials could approve a quarter-billion-dollar tax break for a luxury hotel, apartment and retail development in the Sawmill District near Old Town.
The City Council is set to vote on a proposal backed by Mayor Tim Keller to issue $227.5 million in industrial revenue bonds to help fund three developments by Sawmill Bellamah Properties, LLC, a company tied to hotelier Jim Long. The deal would give the developer major tax breaks for up to 20 years, with a 30% payment in lieu of full property and equipment taxes.
City officials say the project will bring jobs, tourism and investment to a longtime redevelopment zone, but the size of the subsidy and Long’s past unpaid city tax liens have drawn scrutiny.
Long also owns Hotel Chaco and Sawmill Market. In 2021, the ABQ Journal reported that The Clyde Hotel, Hotel Chaco and Nativo Lodge owed $336,000 in unpaid lodgers’ tax and hospitality fees. According to the city Treasury division, those hotels are now in compliance and have no liens.
- Project Details
Chaco Residences:
- $70.4 million, 107-unit luxury extended stay hotel at 1904 Bellamah Ave. NW, featuring suites, wellness areas, restaurants, 19,194 sq. ft. of retail and outdoor terraces. Construction will start in August.
- It is expected to generate $5.6 million in taxes by 2042 and create 18 direct jobs, 86 retail-related jobs and 250 construction jobs.
Sawmill Hotel:
- $76.3 million, 115-room boutique hotel at 1921 Bellamah Ave. NW, with rooftop dining, event space, fitness center, pool lounge and 5,000 sq. ft. of retail. Construction will start in August 2030.
- It’s expected to generate $8.2 million in taxes by 2049 and create 58 full-time, 32 part-time, three retail jobs and 250 construction jobs.
Sawmill Mixed Use:
- $80.8 million, 140-unit apartment complex at 800 20th St. NW and 1904 Bellamah Ave., with 24,540 sq. ft. of retail, entertainment, restaurants and amenities such as a pool, hot tubs, clubhouse and gym. Construction will start in August 2028
- It is expected to generate $2.3 million in taxes by 2047 and create 7 direct jobs, 96 retail-related jobs and 250 construction jobs.
Get Involved
The next City Council meeting is at 5 p.m. June 16 in the Vincent E. Griego Chambers, basement level of the City of Albuquerque Government Center, 1 Civic Plaza NW.
To speak during public comment, you must sign up by 4 p.m. the day of the meeting. If you don’t have internet access, call 505-768-3100 for help.
Join virtually:
- Zoom link: cabq.zoom.us/j/84979163903
- Webinar ID: 849 7916 3903
- Phone: 669-444-9171, then enter the Webinar ID
Watch live:
- Comcast Channel 16 (GOVTV)
- Stream at cabq.gov/govtv
On YouTube at youtube.com/@GOVTVBoardsCommissionMeetings