INNOVATION PARK AT
MESA DEL SOL
Overview of Property
Innovation Park is a 100+ acre plot of mixed use Employment land controlled by Chirisa. The land is located in Mesa Del Sol, a 16,000-acre mixed-use master planned live-work-play community in Albuquerque, New Mexico which is home to Netflix’s ABQ Studios and the gleaming Aperture Center.
The master plan calls for 18,000,000 square feet of industrial, commercial and office development, and 37,500 residences to house a population of 100,000 in a safe, smart and sustainable city. A combination of state and local government efforts have already attracted employers, like Netflix Studios, to the community. Once completed, it will be one of the largest master-planned cities in the country. The master planned community in Albuquerque’s southeast corner is an area with active commercial and residential growth, active construction of new, modern homes, and incredible development progress.
Innovation Park is a high potential site with a variety of potential uses. The site benefits from ample power allowing for the development of a 130 MW+ data center campus, among other uses. Netflix has recently announced plans to add 300 acres to their existing studios, right next door to Chirisa land, and as the Mesa Del Sol community develops and grows, there is potential for a masterplan town center development.
WHY MESA DEL SOL?
Opportunity to invest at an early stage in what is set to become one of the largest master planned communities in the US, while also benefitting from local and countrywide economic incentives as part of an ‘Qualified Opportunity Zone’ fund.
MASTER PLAN
- Innovation Park is a +100-acre plot of mixed use Employment land controlled by Chirisa and located in Mesa Del Sol, a 16,000-acre mixed-use, master planned, live-work-play community in Albuquerque, New Mexico
- The master plan calls for 18,000,000 sq. ft. of industrial, commercial and office developments, as well as 37,500 residences
- Innovation Park is a high potential site with a variety of potential uses. The site benefits from ample power allowing for the development of a 130 MW+ data center campus, among other uses. As the Mesa Del Sol community develops and grows, there is also potential for a masterplan town center development.
NETFLIX
- A combination of state and local government efforts have already attracted employers, such as Netflix Studios, to the community
- Netflix recently announced plans to invest $1bn adjacent to Innovation Park, adding 300 acres to ABQ Studios and making it one of the largest high-tech and sustainable film studios in North America
- The expansion of ABQ studios will bring 1,000 high-tech and production jobs and ~1,500 construction jobs to the community
- The ABQ Studios will bring $150 million in capital expenditures as 10 stages, post-production services, production offices, mills, backlots, and training facilities, a commissary to support meals and craft services, and other flex buildings will be built
MASTER PLAN
The planned expansion of the Netflix Studios accelerates the configuration of Mesa Del Sol.
Despite its proximity to downtown Albuquerque, there are a number of local amenities missing from the community if it is to support a young, urban, working population.
GROCERY STORES
MEDICAL FACILITIES
GAS STATIONS
HOTELS
SCHOOLS
RESTAURANTS
DEMOGRAPHICS AND MAJOR EMPLOYERS
10 MILES RADIUS
| POPULATION SUMMARY | 1 MILE | 5 MILES | 10 MILES |
|---|---|---|---|
|
2010 CENSUS |
2,370 |
49,926 |
432,812 |
|
2020 ESTIMATE |
2,966 |
49,255 |
440,237 |
|
2025 PROJECTION |
3,076 |
49,103 |
441,402 |
| HOUSEHOLDS | 1 MILE | 5 MILES | 10 MILES |
|---|---|---|---|
|
AVERAGE HH INCOME |
$44,591 |
$50,090 |
$59,748 |
|
MEDIAN HOME VALUE |
$138,695 |
$176,442 |
$178,992 |
|
2020 TOTAL HOUSEHOLDS |
853 |
19,346 |
176,525 |
|
2025 TOTAL HH ESTIMATE |
881 |
19,271 |
177,073 |
|
2010 - 2020 HH GROWTH |
2.40% |
0.00% |
0.40% |
Netflix Development
- Netflix has announced plans to expand its Albuquerque footprint with an additional $1 billion investment right next door to Chirisa land.
- The studio expansion will add 300 acres to the company’s existing studios, making ABQ Studios one of the largest high tech and sustainable film production facilities in North America.
- The new investment will create an estimated 1,000 production jobs in New Mexico over the next ten years, along with 1,467 construction jobs to complete the expansion.
- The ABQ Studios will bring $150 million in capital expenditures as up to 10 stages will be added as well as post production services, production offices, mills, backlots, and training facilities, wardrobe suites, a commissary to support meals and craft services, and other flex buildings to support productions.
- Netflix Co CEO Sarandos said: “New Mexico provides an outstanding production and business environment in close proximity to Los Angeles with some of the best crews and creative talent in the world. The expansion will bring many new high tech and production jobs to the region. It allows us to be more nimble executing our production plans while cementing the status of the region as one of the leading production centers in North America.”
- New Mexico Economic Development Secretary, Alicia Keyes, said this deal is going to build an ecosystem and solidify New Mexico as the place to be for film and television.
LUCRATIVE ECONOMIC INCENTIVES
Numerous economic incentives are available in Mesa Del Sol. Some of the most relevant programs are described below:
QUALIFIED OPPORTUNITY ZONE
Mesa Del Sol has been designated as a Qualified Opportunity Zone which provides significant tax benefits to investors who re invest capital gains into long term investments into the community. The Opportunity Zones program offers three tax incentives:
- Temporary Deferral: A temporary deferral of inclusion in taxable income for capital gains reinvested into an Opportunity Fund.
- Step Up in Basis: A step up in basis for capital gains reinvested in an Opportunity Fund. The basis is increased by 10% if the investment in the Opportunity Fund is held by the taxpayer for at least 5 years and by an additional 5% if held for at least 7 years, thereby excluding up to 15% of the original gain from taxation.
- Permanent Exclusion: A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in an Opportunity Fund if the investment is held for at least 10 years. This exclusion only applies to gains accrued after an investment in an Opportunity Fund.
INDUSTRIAL REVENUE BONDS (IRBS)
The City of Albuquerque can issue industrial revenue bonds to finance economic based industry projects. Because the project is technically owned by the government entity and leased to the company, it’s exempt for up to 20 years from property taxes on land, buildings, and equipment. Equipment purchased with bond proceeds is exempt from gross receipts or compensating taxes.
INDUSTRIAL REVENUE BONDS (IRBS)
LEDA allows public support of qualified economic development projects. LEDA can be used to reimburse expenses for hard assets, while the city can also act as the fiscal agent for state funds contributed to a qualified project.