Palindrome outlines Uptown Connect: 239 apartments, 203 affordable units and retained ABQ RIDE transfer station

Palindrome, a real-estate developer, presented details of Uptown Connect — a mixed-use project in Albuquerque’s Uptown — on Bernalillo County’s Biz Moments program. Rebecca Velarde, director of development for Palindrome, said the proposal would include 239 apartments, 203 of which would be affordable to low-income families, about 17,000 square feet of commercial space targeted to small businesses, office space and an underground parking garage for park-and-ride users.

“Palindrome is a real estate developer. We started out 25 years ago developing affordable housing, and that is still, like, the crux of our work,” Velarde said, describing the company’s track record in Albuquerque, which includes the El Vado redevelopment and partnerships with the Sawmill Community Land Trust. She said the recently reopened Imperial Motel is another recent Palindrome project.

Velarde said the city of Albuquerque’s transit provider ABQ RIDE operates a bus transfer station at Uptown Boulevard and America’s Parkway and that the Uptown Connect plan would keep the transfer station on-site while adding a public plaza and micro-retail and micro-restaurant spaces. “And the best part is is that the bus transfer station will remain on-site,” she said.

On construction timing, Velarde said, “We are hoping to close within a year and then it'll be about a 2 year construction process.” She invited local small businesses to consider the project’s micro retail and micro restaurant spaces and noted that Palindrome completes most tenant improvements to lower the barrier to entry: “When we do our spaces the tenant improvements are mostly done you just have to bring your own appliances you're spending very little on the outset and we give you a really affordable place to rent.”

Carolyn Tobias, economic development manager for Bernalillo County and host of the segment, asked about opportunities for local businesses to connect with Palindrome; Velarde encouraged direct outreach and stated an email address on-air for that purpose.

The interview focused on the project concept, affordability goals and small-business opportunities rather than on financing, approvals or detailed timelines beyond the closing and construction estimates Velarde provided. Velarde said the project would include an underground garage to serve park-and-ride users and a public plaza serving transit riders and the new retail spaces.

If Uptown Connect proceeds as described, it would add a substantial number of affordable units to the Uptown area and reserve on-site space for ABQ RIDE’s transfer station while creating street-level commercial opportunities for emerging small businesses. Velarde framed the project as part of Palindrome’s long-term affordable-housing work in Albuquerque.