Channeling New Mexico’s history as the oldest wine region in the U.S., Titan Development is bringing a vineyard-themed luxury multifamily community to Albuquerque.
The 111-unit Allaso Vineyards in the city’s Northeast Heights neighborhood will feature a wine-tasting lounge and grapevines, and residents will be given a private label wine bottle upon moving into their new homes.
The development is expected to break ground later this year. Each of the units will feature open floor plans with quartz countertops, 42-inch cabinets, and stainless steel appliances. Community amenities will include a resort-style pool and spa, rooftop decks, game lawns, fire pits, shaded areas, ramadas, and an outdoor fitness area.
“Allaso Vineyards will be unlike any other community in the Northeast Heights neighborhood and even throughout the entire city of Albuquerque,” said Josh Rogers, vice president of development at Titan. “The look and feel of the property will be like stepping into one of New Mexico’s famous wineries, yet residents will still reap the benefits of living in a vibrant urban setting, where you have walkable access to retail centers, shops, restaurants, and much more.”
Titan Development, a real estate development and private equity real estate firm, has a strong multifamily development track record throughout the Southwest, with eight completed projects totaling 1,760 units and a total development cost of $282 million. Titan is under construction or development on six multifamily projects with a total development cost of $336 million in Colorado and New Mexico.
According to the firm, it plans to pursue additional developments in multiple states, including Arizona, Colorado, New Mexico, Texas, and Florida, and plans to focus its most recent private equity fund, Titan Development Real Estate Fund II, on multifamily and industrial real estate investments in secondary and tertiary markets in those states.