DEVELOPERS VOW TO REBUILD CONDOS
The Carlisle luxury residences in Nob Hill were nearly completed
Rebuilding of Nob Hill project lost in massive fire should start early next year.
The developers of a nearly built Nob Hill condominium complex destroyed by fire vow to complete the project.
Kenny Hinkes, one of the partners in The Carlisle, believes rebuilding the complex, which includes luxury residences and ground floor retail space, will begin early next year once the site is cleared of debris and insurance payments cover most of the loss.
A structural engineer is on site now to assess the dollar value of the losses resulting from the massive Nov. 23 blaze before an insurance claim can be filed, Hinkes said.
The $8.2 million construction project began more than a year ago, and condos ranged in price from $185,000 to $460,000, with a monthly homeowner’s fee of $240, according to previous Journal articles.
Construction was on track for residents to begin moving in later this year; half of the 34 units had been sold.
Hinkes said his company is working closely with investigators to determine how the fire started. He said the doors to the complex had been locked, the property was enclosed by a fence and cameras were on the perimeter to monitor activity.
The developer lauded the Albuquerque Fire Department for a “great job of quickly containing” the fire, and the city for fast-tracking approvals to authorize the demolition, which is now underway. Hinkes hopes an underground parking structure will still be intact and will be one less expense to incur once rebuilding begins.
“Thank God the fire didn’t spread to other structures” in the densely packed shopping district, said Hinkes, who is anxious to “get the street” (Central Avenue) completely open to traffic and allow shoppers access to
merchants in the business district during the peak holiday shopping season. “We want to see them back in business” he said of the firms next to the complex — Ragin’ Shrimp and Electro Mechanical Services Inc. — that were closed due to concerns that the smoldering structure could collapse on them.
After processing emotions following the destruction, Hinkes and his construction partner and co-developer, HB Construction, “are fully committed and very excited to get going.”
The next iteration of The Carlisle will unfold along the same design lines and at the same size, he said. The same construction materials and colors will be used, he said. He also expects to beef up security.
He said nine of the original buyers “have committed to stay with us,” and The Carlisle has three new buyers coming on board since the building was destroyed.
“We are so encouraged by the support of the community,” said Hinkes. “We’ve had hundreds of texts and phone calls from total strangers who have watched the building take shape, liked what they were seeing” and urged the developers to rebuild.
“We still believe The Carlisle is a very significant piece” of the transformation of the Nob Hill neighborhood, said Hinkes.