Signet Development, UNM Break Ground on $35M Student Housing Community
ALBUQUERQUE, N.M. — Signet Development, in partnership with the University of New Mexico (UNM), has broken ground on Lobo Rainforest, a $35 million, 160,000-square-foot living-learning community located within the planned Innovate ABQ district in downtown Albuquerque.
The six-story property will house over 300 UNM students studying in entrepreneurial education programs. Signet will own and develop the property through a lease arrangement with UNM, which will manage and operate the facility.
The property will also be home to UNM’s Innovation Academy, meeting and collaboration rooms, and several business startup organizations including Innovate New Mexico and STC.UNM’s Joseph L. Cecchi VentureLab business incubator. Other tenants will include the Air Force Research Laboratory and various retail outlets.
Dekker/Perich/Sabatini is the architect for the project, and Jaynes Cos. is the construction group. The property is scheduled for completion in August 2017.