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Palindrome details Uptown Connect: 239 apartments and retained transit hub in Albuquerque
Summary
Palindrome plans Uptown Connect at Uptown Boulevard and Americas Parkway with 239 apartments (203 affordable), about 17,000 sq ft of commercial space, an on-site bus transfer station and underground park-and-ride parking; company expects financing close within a year and about two years of construction.
Palindrome, a real estate developer, told a Bernalillo County Biz Moments interview that its proposed Uptown Connect project near Uptown Boulevard and Americas Parkway in Albuquerque will include 239 apartments — 203 of them designated as affordable housing — along with roughly 17,000 square feet of commercial space and an on-site bus transfer station.
Rebecca Velarde, director of development for Palindrome, said the project is designed to preserve the existing transit function while adding housing and small-business space. “The bus transfer station will remain on-site,” Velarde said. “It’ll include 239 apartments, 203 of which will be affordable to low income families.”
The project will also feature office space, an underground parking garage intended for park-and-ride users and a public plaza intended to serve micro-retail and micro-restaurant tenants, Velarde said. She described Palindrome’s development approach and track record during the interview: “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, citing previous local projects including the El Vado redevelopment and recent work on the Imperial Motel.
The proposed commercial area is targeted to “emerging small businesses,” Velarde said, and Palindrome plans to reduce initial costs for new tenants by completing most tenant improvements before occupancy. “It’s really hard to start a business. And one of the biggest barriers to entry is traditional commercial space is really expensive,” she said, adding that tenants generally “just have to bring your own appliances” for the mostly finished spaces.
When asked about timing, Velarde said, “We are hoping to close within a year and then it’ll be about a two-year construction process.” The interview did not provide a specific financing source, zoning approvals, or a firm construction start date.
The city transit agency identified in the interview as ABQ RIDE will maintain the transfer station on-site, Palindrome said. The company invited local businesses to contact its development team directly; the interview listed a contact email for Palindrome as rdelarde@palindromecreates.com.
The interview was part of Bernalillo County’s Biz Moments program; it provided project-level details but did not record any formal government actions, votes, or approvals during the segment. Further permits, financing and city approvals will be required before construction begins.
