First tenants at Grandview Yard unveiled - New Mexico Business Weekly:

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Plans filed with the city July 7 show developer Nationwide RealtyInvestors Ltd. wants to buil the first $40 million worthj of projects as it continues planning forthe broader, $500 million to $600 million redevelopment on 90 acres in the suburb’xs industrial core. The city’s planning commission will consider the HyattPlace hotel, Urbabn Active fitness center and a plannex Jason’s Deli in the office buildinhg as conditional uses. The preliminary and final development plan must go througnh the commission as well as Grandvie HeightsCity Council.
Dublin-based M&A Architects, the designer of the three-story officw building, plans to occupy at least 20,000 square feet on the top floor. The plans mark the firstr projects presented to the city for approval sinced Nationwide Realty first began acquiring the former Big BearStoresw Co. distribution complex and surrounding properties inMay 2006. In conjunction with the real estated projects, Grandview Heights City Council at its July 6 meetin heard a first reading of a development agreement between the city andNationwid Realty.
The resolution outlines how the city will payfor $78 millio n in road improvements and utilities inside Grandview Yard and another $41 millio in off-site public improvements. Other legislation in support of the developmenrt agreement is expected to be introduced as earl y as a special July 13councip meeting. Construction on the three buildings and the first phase of road and utility projects coul d begin as early aslate August. The hotel and fitness centerr should open infall 2010, said Nationwide Realtyt President Brian Ellis. “We should be pretthy well positioned to get theprojecyt going,” he said.
The city’s mayor welcomed the sign of progrese despite the tougheconomic “Getting something out of the ground,” Mayor Ray DeGraew said, “will attract attention and more