Five years ago, the City of Albuquerque purchased the historic De Anza Motel on Route 66 after proposal surfaced to replace it with a drug and liquor store.
The city hoped to have it reopened as a boutique motel by now. But progress has been slow, reports the Albuquerque Tribune.
It took the city until last September — almost five years after buying the property — to reach a purchase agreement with De Anza LLC, a development group headed by Matthew Terry, an Albuquerque accountant, and his financial backer, Gerald Landgraf.
That agreement is in its first phase, with the developer allowed on site to perform feasibility and financial studies.
The actual sale of the property — for $1 but with strict, contractual stipulations about how it could be developed — would not occur until the next phase. Work on the property, which begins with city removal of hazardous substances like asbestos, also is part of Phase Two.
Moreover, the developer can back out anytime before reaching Phase Two.
Though De Anza LLC recently was granted an extension until June, Dineen says he remains optimistic.
“They’ve got the wherewithal to do this, and I think they really want to do it,” he said.
Terry, reached by phone Monday, declined to comment other than to say: “We’re moving forward with the process, but we don’t have anything to add at this time.”
In case you’re wondering whether the city’s bid to purchase or condemn and renovate El Vado Motel would then subsequently face the same sluggish progress, officials don’t think so.
But he said several factors would make the resurrection of El Vado easier and quicker to accomplish.
Those factors include a more favorable location (El Vado is near tourist draws like the Rio Grande Zoo), and the fact there are no additional complications, such as the murals depicting sacred Zuni Pueblo scenes at the De Anza that must be protected.
The city objects to El Vado owner Richard Gonzales’ plans to demolish the building, which it has designated as a historic landmark. It is proceeding with condemnation of the property and plans to make its redevelopment a “high priority,” Dineen said.
A consultant has evaluated possibilities for making El Vado a “destination motel” — the city’s first choice for its reuse, much as it was for the De Anza.
Incidentally, this is probably the last time the Tribune will issue reports such as this because. The afternoon newspaper is ceasing publication on Saturday, after years of declining circulation.