Posted at: 06/01/2009 9:46 PM
Updated at: 06/02/2009 7:35 AM
By: Jeff Maher, Eyewitness News 4; Matthew Kappus, KOB.com

   Print Story

Delayed retail project scheduled to begin

Albuquerque's West Side will soon see new developments after a recent slump

For five months, a $60 million West Side retail development project has been on hold because of the recession—but the project will finally break ground.

The Unser Crossing project was supposed to have gotten underway in January. But the struggling economy put work at a standstill.

This week, the project is back up and running on Albuquerque's West Side. A CVS Pharmacy, Lowe's and Defined Fitness have all signed on. But realtors are looking for more tenants—and a recent trip to Las Vegas, Nevada didn't yield any interest.

The fact that work is underway after a five-month hiatus is enough to give Mike Trevino some relief—he was laid off last year from his construction job.

"I just hope it keeps going, you know--they keep building because that keeps us busy. I don't want to be laid off again," he said.

And there are others signs of hope in the real estate market. Across from the Unser Crossing project is the future site of a new Park n' Ride, a library, and a medical clinic. Work is expected to get underway in July.

A new Walgreens is set to go up at 98th and Gibson—no delays are expected.

Despite recent progress, signs of the recession remain.

Last year there was news about a retail complex at Central and 98th with more than a dozen vacant offices—those spaces remain empty.

City Councilor Ken Sanchez says in many cases, banks are still not willing to lend small businesses the money they need to get started.

"I think people aren't as fearful as they were six to eight months ago. I don't believe that we are out of hot water yet, but I believe we are seeing a major turnaround in this economy," Sanchez said.

Workers will break ground on the Unser Crossing project Thursday. It's expected to be finished within the next year.