The city of Albuquerque recently celebrated the inauguration of The Imperial redevelopment project in East Downtown Albuquerque. This venture is a result of a public-private collaboration between the Metropolitan Redevelopment Agency (MRA) and Palindrome Communities LLC, supported by $700,000 in gap financing from MRA.
The Imperial, a historic Route 66-era building previously known as the Imperial 400, has undergone significant transformation. It now boasts 52 guest rooms, 16 residential suites, and approximately 4,410 square feet of commercial space. According to a press release by the city of Albuquerque, the renovation has managed to preserve its heritage while introducing modern enhancements.
Chad Rennaker, President of Palindrome Communities expressed his excitement about the project in a press release by the city of Albuquerque. He said, "We at Palindrome are excited to introduce Albuquerque to The Imperial, our newest hospitality offering on Route 66." Rennaker went on to describe The Imperial as "a project that looks to the past and to the future," adding that it honors "the legacy of the Mother Road while updating the property to be an alluring destination for locals and visitors for many years to come." He thanked their partners at MRA and Clearinghouse CDFI for their support throughout this challenging but ultimately successful redevelopment. Rennaker concluded by saying he was proud that The Imperial would join other businesses in the EDo neighborhood and looked forward to enjoying a cocktail at the Imperial Dive with all their new and old friends.
According to another press release by the city of Albuquerque, MRA Director Terry Brunner also commented on this development. Brunner stated that "The Imperial now stands as a vibrant hub, offering high-quality accommodations and commercial spaces that contribute to ongoing growth and vitality of East Downtown Albuquerque." He further added that "This redevelopment project will undoubtedly enhance our community's appeal and contribute to our city's economic vibrancy for years to come."
The MRA, as stated on its webpage provided by the city of Albuquerque, is dedicated to revitalizing downtown and the Central Avenue corridor. The agency engages in global market competition, leads public-private partnerships, and invests in sustainable infrastructure.
