Albuquerque is boosting it's economy with new development growth.
Darin Sand, with Goodman Realty Group, said they recently began construction on a 16-screen Regal Theater. This is the long-awaited first phase of the redevelopment of Winrock Mall. The theater will be built on the southeast portion of the old Montgomery Ward's site just east of Bed Bath and Beyond.
It is expected that the theater will employ 150 people. The theater will have an IMAX theater using the latest 3-D technology and all screens will be wall to wall. This is the first theater of its kind in New Mexico. The 71,156 square-foot structure will have stadium seating. Goodman Realty Group is also opening a food court expected for the spring of 2013. The first two restaurants to open will be BJ's Restaurant and Brewhouse and Genghis Grill (a Mongolian stir fry). Both restaurants are expected to open within the next month. BJ's is expected to hire about 230 people, and Genghis Grill expects to employ 70 people.
Along with the developments happening at the old Winrock Mall, a single-story Target that is raised approximately 40 feet high is being developed on the corner of Louisiana Boulevard and Indian School Road. Jim Dobbie, a team member on the Uptown Progress Team, said, "This has been a phased development with the ability to add additional retail and residential units at a later date." The Target store is a style seen in urban areas such as Chicago and Los Angeles. Parking will be at ground level and the store itself will be above the parking.
The store will have a small-format grocery option, with limited-offering fresh produce and pre-packaged meat," Kim Hayden with Target said. Target will officially open March 10, 2013.
According to Randy Sanchez, general manager of Coronado Mall, the mall has not been renovated since 1995. General Growth Properties, the owner of the mall, is considering a renovation in celebration of its 50th year anniversary.