Titan Development is breaking new ground north of Albuquerque.
The New Mexico-based real estate developer broke ground Wednesday on its luxury multifamily project Broadstone Rodeo, in Santa Fe.
The 188-unit project is one of the first Class A multifamily projects to be built in Santa Fe in over 20 years, according to Titan Development. Broadstone Rodeo is the sixth project Titan and Alliance Residential have partnered on. Phoenix-based Alliance Residential is a multifamily real estate company with offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic and Northeast.
“There is tremendous demand for high-quality multifamily in Santa Fe,” said Titan Principal Drew Dolan in a statement. “Tertiary markets like Santa Fe have been overlooked through this real estate cycle, but with local relationships, a track record for developing quality projects and the unique understanding of specific markets, Titan is well positioned to be successful in markets like Santa Fe all across the country.”
Broadstone Rodeo is the first project from Titan’s Development Real Estate Fund I. The fund was established to raise and invest equity in about $200 million of Titan Development’s existing pipeline as well as other investment opportunities.
Units at the $34 million project will be available starting in the fall of 2019, with prices ranging up to $1,300 for one-and two-bedroom units, according to the Santa Fe New Mexican. Amenities will include a gated entrance, a lounge, entertainment room, patios, covered parking, a resort-style pool and a modern-day fitness center.
Titan Development is a real estate developer founded in 1999. It has been involved in over $2 billion of real estate development, including Albuquerque’s Cabela’s and the 218,000-square-foot Hewlett Packard building.