The former federal building in Downtown Albuquerque is sort of like a big experiment, with a big price tag. Buy a vacant office building for $1.51 million and completely gut it. Then drill through the concrete floors to add new plumbing and electrical lines. Add loft-like features with open-concept units and exposed ceilings. The Mehran Lofts, the renamed former federal building at 517 Gold Ave. SW, have begun… What you end up with is 27 units on the first floor, between 406 and 716 square feet. Rents start at $450 and top off at $750. The building, renamed Merhan Lofts after the New Jersey-based developer Anthony Mehran, is located at 517 Gold Ave. SW. Only the bottom floor of the Mehran Lofts has been renovated, with renovation ongoing on the second and third floor. The developer plans to tackle each of the eight floors one by one, potentially changing design based on market demand. So, will it work?
Source: First look at new lofts in Albuquerque Downtown former federal building – Albuquerque Business First
