Downtown Albuquerque is turning into a hotbed for new businesses, thanks to the distribution of $500,000 in grant money to revitalize the area.
“Visually, when you’re walking downtown, you’re already seeing that activation of street-level properties, and it brings a lot of good energy to downtown,” Sarah Allen, public information officer for Albuquerque’s Metropolitan Redevelopment Agency, told KRQE News
The funds from the American Rescue Plan Act went to 15 businesses that were awarded $30,000 to $35,000 to start or expand their business on a ground-level downtown storefront property. Among those businesses receiving a grant include Wing It Up, Dry Heat Comedy Club and Blue Door Patisserie. Applicants were evaluated on a first-come-first-serve basis.
“It makes us excited because we want to activate downtown," Allen told KRQE News. "So seeing these businesses excited to take advantage of programs we have to offer makes us want to work with the local businesses to help support them and help revitalize that downtown community."
Allen said that nine recipients of the grants are in operation. The remaining six are expected to open within six months. The businesses had to meet certain criteria to be eligible for the grants, including occupying a currently vacant downtown space of at least 1,000 square feet; having fewer than 250 employees; being located between Broadway, 11th Street, Coal and Lomas; and not being exclusively based on the sale of adult entertainment, nicotine, cannabis and packaged liquor, according to the City of Albuquerque.
“We love working with local businesses, and we love these resources for them to utilize to help grow their businesses,” Allen told KRQE News.
While the initial $500,000 of funding has been depleted, the city is encouraging small businesses to apply to be on the waiting list for the next time grant money is available.