Location. Site Attributes. List Price: 660 Acres - Santa Fe, New Mexico. Al Lilly Qualifying Broker R.E. search Associates (505)
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2 THE OFFERING Suerte del Sur 660 Acres - Santa Fe, New Mexico Location The property is in Santa Fe County and is approximately 11 miles due west of Santa Fe s historic Plaza. Santa Fe is a unique southwestern town boasting a mild four season climate at the southern-most tip of the Rocky Mountains. The historical charm of its architecture combined with the rich cultural diversity of its settlers, has helped to establish Santa Fe as an international center for the arts and one of the great destination cities of the world. Santa Fe ranked third in the Conde Nast Traveler 2011 Reader s Choice awards for the most popular travel city in the U.S. In 2008, AARP The Magazine ranked Santa Fe among the top five healthiest cities in which to live and retire. Forbes Magazine ranked Santa Fe among the top 25 Best Small Places for Business and Careers in In 2011 Santa Fe was voted in the top 10 Food and Wine Destinations in the U.S. by Trip Advisor s travelers. Travel and Leisure Magazine ranked Santa Fe the no. 1 city for a cultural getaway in their America s Favorite Cities 2011 classification. In terms of dollar sales, Santa Fe is among the largest art markets in the U.S. according to the latest study of the University of New Mexico s Bureau of Business and Economic Research. (Source: Santa Fe 2012 Community Profile Business Directory by the Santa Fe Chamber of Commerce). Site Attributes The site is located just south of the prestigious golf community of Las Campanas, and the property is characterized by gently sloping terrain with exceptional views to the Sangre de Cristo Mountains, the Sandia and the Ortiz Mountains. The land to the west is undeveloped and the land to the east and south features acre residential lots. Al Lilly Qualifying Broker R.E. search Associates (505) Scott Hoeft Santa Fe Planning Group, Inc. (505) ALTERNATE LAND USES: 1. 3 Premium Ranches within close proximity to the City of Santa Fe (ranging in size from 142 to 230 AC each); 2. Large Lot Subdivision (12 exceptional view lots ranging in size from approx. 30 to 91 AC); Lot Subdivision (likely one of the last large scale residential subdivisions in this region of Santa Fe); List Price: The entire 660 acres is listed for a price of $.00.
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7 REAL ESTATE ASSET SUMMARY PHASES 1-5 Suerte del Sur Subdivision 660 Acres - Santa Fe, New Mexico The following narrative is a summary of the Suerte del Sur Subdivision. Final plats and development plans, detailed cost estimates, homeowner association document (covenants, by laws, disclosure statements), traffic impact studies, archaeology studies, road maintenance agreements, water agreement, sewer agreement, affordable housing agreement, and staff reports are available for perusal upon request. Santa Fe Planning Group is currently pursuing a reduction in the number of affordable housing lots with Santa Fe County. In accordance with a recent change in the affordable housing ordinance, we plan to reduce the affordable housing requirement for the subdivision from 80 lots to 40 lots. The most recent work on the project prior to this effort occurred in year 2010, when a three-year time extension for the approved final plat was approved by Santa Fe County. The project remains active through April Location Suerte del Sur is located just south of Las Campanas and shares a common boundary along a portion of the subject property s northern boundary. Directions: RT 599 to Camino de la Tierra, to Las Campanas Drive, then Los Suenos Trail south approximately 1 mile. Site Attributes The site is located just south of the prestigious golf community of Las Campanas, and the property is characterized by gently sloping terrain with exceptional views to the Sangre de Cristo Mountains, the Sandia and the Ortiz Mountains. The land to the west is undeveloped and the land to the east and south features acre residential lots. Typical ground slopes on the building sites range from 2% to 8%. While there are a few areas of terrain where slopes are between 20% and 30%, as well as limited areas over 30%, all proposed building sites are in areas with slopes less than 30%. It is likely that Suerte del Sur will be one of the last large scale residential subdivisions in this region of Santa Fe. History The case file for Suerte del Sur is very extensive with a history that extends back almost ten-years. In year 2002, the project was conceptually designed and presented to Santa Fe County and nearby neighborhoods for review. The project proceeded through numerous public hearings through year 2006 including the master plan and platting approvals, and the re-platting of the project to account for a then-new affordable housing ordinance (that required that 30% of the project s density meet affordable housing requirements). The project received final plat approval in In 2007/08 road improvement agreements (for Los Suenos Trail and La Vida Trail) and road construction agreement (Hager Road) were also negotiated and completed. Water and sewer agreements were also struck with Santa Fe County and Las Campanas Sewer Coop respectively. Also during this period the project plats, support documents, and cost estimates were revised and completed in preparation for recordation. The project status is fully approved and active but unrecorded, Phases 1-4. Phase 5 still requires platting.
8 REAL ESTATE ASSET SUMMARY PHASES 1-5 Suerte del Sur Subdivision 660 Acres - Santa Fe, New Mexico Project Land Uses, Density & Amenities: Suerte del Sur has been approved for a residential subdivision consisting of 304 lots. Market Rate Lots: acre ranch lots (9) 2-acre average (241) Affordable Lots: acre average 290 Lots Total The development plan also has two community tracts of land that are 6.9 acres and 4.1 acres in size. The approved uses of these two lots consist of a clubhouse (8000 sf), multiuse field, exercise trail, picnic shelter, volleyball, basketball, and a playground. PHASING MARKET RATE LOTS AFFORDABLE LOTS Al Lilly Qualifying Broker R.E. search Associates (505) Scott Hoeft Santa Fe Planning Group, Inc. (505) Phase Phase Phase Phase Phase Timeline: Final Plat and Development Plan, Phase 1-4 : April 8, 2008 Suerte del Sur Time Extension: April 13, 2010 (extended to April 2013)
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