News Release
For Immediate Release
Contact: Anne Monson, APR, 505-244-8479 Melanie J. Majors, APR, 505-266-5637
MESA DEL SOL SIGNS PACT FOR PLANTS WITH
SOUTH VALLEY ECONOMIC DEVELOPMENT CENTER
$100,000 initial investment retains South Valley’s rich heritage
Albuquerque, NM – April 22, 2008 – With the stroke of a pen, Mesa del Sol will secure a local source for drought-tolerant, low-water use and native plants while at the same time help a fledging economic group begin an economic venture aimed at retaining the South Valley’s rich agricultural and cultural heritage.
The South Valley Economic Development Center (SVEDC) and Mesa del Sol representatives signed the formal agreement at 12 p.m. April 22, 2008 at Agra Greenhouses, 2015 Gun Club Road SW.
As part of the agreement, the SVEDC has assisted local growers in creating the Rio Grande Grower’s Association (RGGA). Mesa del Sol will fund administrative expenses for the SVEDC and provide start-up capital for the grower’s association, a total investment of $100,000. In the first phase of the plan, the growers will provide Mesa del Sol with plants for its Aperture Park and for plantings along the extension of University Boulevard.
In addition, Mesa del Sol will appoint a landscape expert to work with the growers and identify the quantity and specific plants to be used for landscaping. The growers agree to supply Mesa del Sol with a steady and dependable source of xeric, drought-tolerant, low-water use, and native plant materials to avoid the typical purchasing of non-native, non-acclimated plants from outside of the state of New Mexico.
“Mesa del Sol is about job growth – whether it is attracting companies to New Mexico or providing impetus and creative thinking to create jobs at organizations already established in the state,” said Michael Daly, president of Mesa del Sol, before signing the contract. “This is an agreement that will be beneficial to the development of Mesa del Sol, while at the same time improving the lives of our neighbors in Albuquerque’s South Valley.”
“It’s a win-win situation that further demonstrates Mesa del Sol’s vision of a sustainable community and has positive economic outcomes for other parts of the city and the state,” said Daly.
“This agreement provides the grower’s association with seed money to build greenhouses and begin planting, assures the association of a market for their plants and has the potential to foster a new and exciting chapter in the heritage of the South Valley,” said Tony Gallegos, director of the South Valley Economic Development Center. “This support of local business is vital and will create a number of opportunities for business development in the South Valley.”
Gallegos continues, “This first venture is of significant scope to keep the green belt alive in the South Valley. We hope it is the first of many projects that the SVEDC and Mesa del Sol can pursue together. Mesa del Sol is making a sound investment in this community – instead of importing trees, plants or workers, they are crossing the river where these resources can be tailor-made for their needs.”
Gallegos explains that the partnership is in the beginning stages and that he has had conversations with Mesa del Sol personnel to explore other areas where the two can collaborate.
About Mesa del Sol
Mesa del Sol is a 12,900-acre mixed-use district located on Albuquerque’s south mesa. By combining job creation and sustainable urban community planning, Mesa del Sol will reflect a balance of environmental resources, economic objectives and social amenities in a community that is forward-looking with a highly defined sense of place.
Mesa del Sol is a true public/private partnership. In addition to Forest City Covington, NM, LLC, Mesa del Sol is being developed in conjunction with other partners, including the New Mexico State Land Office, the University of New Mexico, with the support of the City of Albuquerque, Bernalillo County and the State of New Mexico.
About Forest City Covington
Forest City Covington NM, LLC is a joint venture between Forest City NM. LLC and Covington NM, LLC. Forest City NM, LLC is a subsidiary of Forest City Enterprises, Inc., a $10 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. Covington NM, LLC is an affiliate company of Covington Capital Corporate, a major real estate development and investment company. Covington Capital and its affiliate companies currently own more than 13 million square feet of commercial/industrial space and are actively developing more than 17,000 acres of land in the western United States.
About the South Valley Economic Development Center
The SVEDC is a joint venture between Bernalillo County and the Rio Grande Community Development Corporation. Since 2005, the SVEDC has been working to foster and incubate small businesses both by providing office-space for new businesses and providing a commercial kitchen for agricultural processing and product development. With a focus on agricultural development and maintaining the green heritage and cultural values of the South Valley, the SVEDC’s mission is to pursue community-wide healthy economic and social development, reducing poverty through entrepreneurial spirit and enterprise.
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