SANTA FE, NM - Aberg Property Company has announced its plans to move forward with 244 apartment units in Phase I of the Zia Station mixed use development. Zia Flats, the 244 apartments will have 24 on-site affordable units – the first project in Santa Fe to provide affordable units rather than pay the fee in lieu of option that the city offers. The project is located at the northeast corner of St. Francis Drive and Zia Road, the northern most parcel of the Zia Station development. The new community is expected to be under construction for approximately 22 months and will open in early 2027.
The land is owned by Zia Station, LLC who will be joint venture partners in the development. Phase II is approximately nine acres and is located south of Zia Road, next to the Rail Runner station, and will include additional residential and commercial uses. Zia Station, LLC is currently working on intersection improvements at Zia Road and St Francis Drive. Aberg Property Company and Zia Station, LLC have partnered with Sunward Bank for the financing.
Aberg Property Company are no strangers to the Santa Fe apartment market. The Dallas based development group developed both Railyard Flats and Capitol Flats. “We are pleased to have another opportunity to build a quality residential development next to both the Rail Trail and Rail Runner commuter rail station in Santa Fe,” says Christopher Ray, Executive Vice President of Aberg Property Company. “We believe this location in the heart of Santa Fe will result in a very successful housing community that enjoys the proximity to retail, walking trails and the commuter rail”.
The Zia Flats community will include a resort style pool, clubhouse with co-working space, fitness center, and substantial outdoor spaces with large courtyards featuring firepits and other amenities. Zia Flats will consist of six buildings that are two and three stories. When completed, the community will be near major grocers such as Whole Foods, Trader Joes and Albertsons, as well as the St Francis corridor and easy access to Interstate 25.
Zia Station, LLC Phase II calls for commercial and residential use and is in its early stage of design. Marc Bertram, General Partner of Zia Station, LLC stated, “the long-term vision is to first build out a substantial portion of the residential use which will allow our second phase to successfully deliver retail and other commercial uses. We continue to believe that our location and proximity to the Rail Runner will be the main driver for successful mixed-use development”.