property
Martinez Town: An Overlooked Suburb on the Cusp of Rezoning
Bernalillo County planners schedule a July 22 vote that would shift this Rio Grande pocket from heavy industrial to mixed-use zoning.
How we reported this
The Bernalillo County Commission will vote July 22 on rezoning Martinez Town from industrial to mixed-use residential and commercial categories.
Albuquerque’s housing shortage has pushed developers to examine older pockets that escaped earlier waves of growth. Martinez Town sits between the Rio Grande and the BNSF rail corridor, where existing zoning still blocks most new housing. The vote follows a May planning report that identified 48 acres of underused lots along 4th Street SW as prime for apartments and small retail.
Local anchors and daily routes
Residents already walk to the National Hispanic Cultural Center on Avenida de Cesar Chavez for events and use the nearby South Broadway branch library for meetings. The area also sits two blocks from the Albuquerque Rail Runner station at the old Barelas yards, giving commuters direct service to downtown and the airport without driving Interstate 25.
City data released last month shows Martinez Town median sale prices reached $298,000 in June, up from $245,000 two years earlier. Listings on the Greater Albuquerque Association of Realtors multiple-listing service averaged 18 days on market, half the citywide figure. The same report noted that 62 percent of the neighborhood’s 1,140 housing units predate 1970, creating a large stock of buildings eligible for adaptive reuse once zoning changes.
Next steps for buyers and owners
Property owners can submit comments to the county planning department until July 15. After the vote, developers expect to file site-plan applications within 90 days for projects that could add up to 400 units. Prospective buyers should check flood-zone maps and talk with lenders familiar with the area’s older titles before making offers.
Local real-estate agents recommend touring properties along 5th Street SW and the blocks between Cromwell Avenue and the river levee this month, while prices still reflect the current industrial designation.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.