Special offer

Downs at Albuquerque ~ Moving to Moriarty?

By
Services for Real Estate Pros with Drake Intel Group

The New Mexico Racing Commission met May 23rd in regards to a request for a discussion of application for 2009 racing dates in Moriarty, NM.

Moriarty NM

 

The Downs at Albuquerque is currently located at the State Fairgrounds in Albuquerque, NM. They are seeking to relocate because the current space is not sufficiently large enough for their needs. Downs President Paul Blanchard is seeking to move the Downs to Moriarty where he has a purchase option on 500 acres of land at the intersection of I-40 and NM 41.  Currently, the Fairgrounds receive $2 million dollars in annual rent with the lease running until 2010. Blanchard has indicated that he will pay off the lease if he gets the green light on this project.

 

 

The proposed $65,000,000 complex will consist of:

  • 1512 stalls
  • 22 barns
  • 1 mile race track
  • Indoor equestrian center
  • Outdoor show ring
  • Advance vet clinic
  • Private 4th floor grandstand suites
  • Travel center - truck stop
  • Multi story hotel
  • RV Park
  • Paddock
  • Amphitheater
  • Steakhouse
  • Food court
  • At least 5 bars
  • 715 slot machines

Buford Steakhouse Moriarty NM

This would bring 400 jobs to Moriarty, a rural town located approximately 40 miles east of Albuquerque.

Supporters of this complex include Steve Anaya (city councilman), Jim Frost (Torrance county commissioner) and Dennis Wallin (attorney and owner of Buford Steak House)

Homestead Estates Moriarty NMDouglas Mills, representing the Homestead HOA, raised concerns at today's meeting. He mentioned Moriarty's lack of 24-hour medical facilities and the increased traffic on a two-lane road to the facilities. I spoke with Linda Caudell, President of the Homestead HOA, today and she replied that they also have concerns about public safety and the potential of increased DWIs.

The commission tabled the matter for further consideration. There is also the concern that the move might not be in compliance with the state's tribal gaming compacts.

Further resources on the web:

For all your Albuquerque Real Estate needs, contact me today!
Ashley Drake Gephart
Keller Williams Realty
Cell: 505.261.0389
Albuquerque Real Estate 

Photos courtesy of Kitty Lee

Ana Connell
G & C Properties - Burbank, CA
Burbank Real Estate Agent
Nice post!  Lots of great info.
May 27, 2007 05:22 AM
Ashley Drake Gephart
Drake Intel Group - Albuquerque, NM
Ana - Thanks for stopping by and commenting!
May 27, 2007 06:27 AM
Christina Lackey
Coldwell Banker Prime Properties - North Syracuse, NY
Syracuse Central New York Real Estate
Ashley- Wow!  This is an excellent post and very well done.  Sounds like a great opportunity for the area, although it sounds like something that might meet with a fair amount of oppostition.
May 27, 2007 02:23 PM
Ashley Drake Gephart
Drake Intel Group - Albuquerque, NM

Christina - Thank you. It would bring much needed jobs and revenue to Moriarty on the one hand and on the other it might put a strain on the public works.

May 27, 2007 02:40 PM
Cyndee Haydon
Charles Rutenberg Realty - Clearwater, FL
727-710-8035 Clearwater, Beach Short Sales Luxury Condos &Homes
Ashley - growth is good - right? Thanks for another great post!
May 28, 2007 03:58 AM
Danny Smith
DISCOVER TEXAS HOMES - Round Rock, TX
Ashley, this is great news..especially for Moriarty! My dad was a horseman and spoke of Moriarty a lot.
May 29, 2007 07:50 AM
Ashley Drake Gephart
Drake Intel Group - Albuquerque, NM

Cyndee - Growth is good and Moriarty certainly could use the new jobs. As long as the public safety issues are addressed this could be a good thing for the area.

Danny - The horseman are certainly supporting this move. The proposed center looks amazing.

May 29, 2007 07:54 AM