The State Board of Finance has approved a $22.35 million bonding package for the State Fair District Board, which will allow the board to acquire nearly nine acres of land on the southwest corner of Albuquerque’s State Fairgrounds. This acquisition is intended to support future development plans in that area.
The planned development includes a 10-acre public park with plazas, trails, play areas, restrooms, and improvements designed to make the boundary of the Fairgrounds more accessible for pedestrians.
Governor Michelle Lujan Grisham commented on the project: “The International District deserves world-class public spaces, and this development will deliver accessible parks and amenities that families can enjoy year-round.”
According to state officials, the total cost for acquiring and developing these parcels is estimated at about $90.15 million. This figure covers both purchasing the property and carrying out improvements under what is being called a “predevelopment plan.” The enhancements will be made regardless of which master redevelopment proposal is ultimately chosen.
Three master plan concepts were unveiled earlier in the week. The State Fairgrounds District Board plans to review these proposals at its meeting scheduled for Thursday, December 11. The predevelopment bond will then go before the State Board of Finance again on Tuesday, December 16.
Funding comes from bonds issued by the State Fairgrounds District’s own authority.
Efforts are ongoing to gather input from residents and stakeholders about future plans for the site. New Mexicans are invited to provide feedback through an online portal at www.fairgroundsdistrict.nm.gov.
The New Mexico Fairgrounds District Board was established by legislation in early 2025 with a mission to redesign the Fairgrounds and create new community benefits aimed at improving conditions in nearby neighborhoods.
