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Proposal for Midtown innovation hub touts jobs, partnerships and a mixed-use campus
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Summary
The New Mexico Innovation Hub presented plans to build lab and office space, training programs and about 80 housing units (15% affordable) in Midtown Santa Fe, stressing partnerships with colleges and national labs and urging quick action to capture state economic development funds.
David Perez, representing the New Mexico Innovation Hub, told the Santa Fe Finance Committee that the hub grew from a three-year process identifying the city’s three biggest needs to boost startup growth: access to capital, workforce development and modern facilities. “The state investment council has dedicated about $1,600,000,000 to venture capital firms who invest in the state,” Perez said, and the hub aims to attract some of that capital to Santa Fe.
Perez said the hub has signed partner agreements with Santa Fe Community College, New Mexico State University’s Arrowhead Center, New Mexico Tech, UNM-affiliated programs and Los Alamos National Laboratory. He described Midtown parcels (Benelvis Hall, Driscoll and Garson) that the hub is pursuing under an exclusive negotiation agreement and said Lot O is being transferred from state to city control to make the campus more contiguous. “This site is not shovel ready yet,” he said, noting considerable demolition, remediation and investment will be required before construction.
The conceptual plan Perez showed would include roughly 75,000 square feet of lab-flex space, about 45,000 square feet of office and convening space, and roughly 80 housing units, of which 15% would be affordable per the master plan. Perez said the hub is pursuing a DDA so it can move from ENA to construction once terms are set: “As we get through the ENA and get to a DDA with the city, we will be ready to move forward,” he said.
Councilors pressed on parking, contamination risk and local benefits. Councilor Alma Castro asked why Santa Fe would have a competitive advantage; Perez cited the city’s global brand, proximity to national labs and the once-in-a-lifetime opportunity to build a central campus. Councilor concerns ranged from potential impacts of materials testing on local water to where affordable units would be sited on the parcel. Perez said workforce training is woven into tenant expectations and that signatory partners will be asked to provide internships and apprenticeships.
Officials discussed phasing infrastructure and financing. Deputy City Manager Phillips (in committee discussion) outlined the possibility of tax-increment financing and said staff were still finalizing an estimated $77,000,000 infrastructure tab; the city is exploring phasing so smaller initial capital can be invested to service early tenants. Perez and others emphasized the urgency to move quickly to capture state economic-development funds already being distributed.
The presentation closed with committee appreciation and a request that staff and proponents bring concrete DDA and financing figures to future meetings so the council can review projected tax and job impacts and the city’s investment needs.
