Last we heard, La Posada de Albuquerque, which was closed for renovations in 2005, was going to reopen sometime in spring 2007.
Now it looks like the reopening isn’t going to happen anytime soon. According to Duke City Fix, owner Gary Goodman is asking the city for $9 million in industrial revenue bonds to continue the historic hotel’s renovations, which apparently are ongoing. Whether the city ponies up the bonds is uncertain.
Duke City Fix contributor Don Pizzolato opines:
It has been obvious for a while that Goodman did not have the funding to begin renovations. Since the property shut down in mid 2005 it has sat vacant, hosting the occasional “everything must go” furniture liquidation sale. In recent months the first floor restaurant and banquet spaces have been gutted, but nothing new appears to be taking shape. […]
Part of me wonders if this whole kabuki dance has not been some sort of elaborate real-estate flip. Similar to what is happening with the El Vado but more opaque. The city is keen to preserve the few historic properties it has, but for some reason it won’t pony up the dough to purchase them until a gun is put to their head. […]
Everyone would be well served by exercising a little patience. Should Mr. Goodman’s plans fall through (likely), the city should purchase the property and wait. La Posada’s time will come (again), just not now. The last thing downtown needs is another project for progress’ sake.
Stay tuned.
I can’t wait for the LaPo to be open again! Are there any pictures available during construction? It is such a charming boutique hotel, although it is extremely haunted. Years ago, I worked there on graveyard shifts and remember countless strange phenomenons. At the time, the living haunted the hotel more than the dead though! My wife and I want to be some of the first guests once renovations are complete!Albuquerque Real Estate
Goodman is cheap; always has been & always will – if I was Albuquerque City, I’d avoid him at all costs.