EL PASO (El Paso Inc.) – The long-awaited development of 204 acres of vacant Westside land is set to move forward early this year.
Albuquerque-based Geltmore LLC, the master developer behind the $500 million Aldea El Paso, revealed details for the “urban village.” Plans call for 1,400 residences, two hotels, student housing and 1.5 million sf of commercial retail space.
The Aldea property is bounded by North Mesa St. to the east, Executive Center Blvd. to the south and I-10 to the west.
The design was inspired by the Champs Elyseés, one of the most famous avenues in Paris. Traffic will be separated from pedestrians by landscaped medians. It will flow through a large roundabout surrounded by buildings varying from two to five stories.
The city council agreed to provide a $22 million property tax rebate over 20 years, and the Texas Department of Transportation will build a frontage road along I-10 and a new interchange. [REC TAMU]
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