ABQ Times

The Metropolitan Redevelopment Agency (MRA) in Albuquerque has introduced a new initiative called Renovate & Reinvest. This program aims to support business owners in five designated Metropolitan Redevelopment Areas (MRAs) by providing matching grants for property improvements.

Eligible business owners can receive up to $95,000 per fiscal year to enhance the aesthetics and functionality of their buildings. A cash match is required, with the amount based on the size of the business. The program targets properties in Barelas, Downtown, East Downtown, Menaul, and University MRAs. Applications are accepted on a rolling basis until funds are exhausted.

Renovate & Reinvest encourages local property owners to make substantial improvements that will boost community growth and vibrancy. Mayor Tim Keller expressed his support for the initiative: “We're helping local business owners improve their curb appeal and be part of the vision for a better, stronger Albuquerque.” He added that this funding would significantly impact neighborhood aesthetics and help revitalize key city areas.

The types of eligible improvements include façade upgrades, exterior painting, signage, lighting, security systems, structural repairs, HVAC installation, accessibility enhancements, and energy conservation measures. Grants will be awarded competitively with a focus on projects that create noticeable visual impacts at street level to encourage pedestrian traffic and economic activity within Albuquerque’s MRAs.

“This is a powerful opportunity for property owners who want to reinvest in their buildings and contribute to the city’s broader redevelopment goals,” said MRA Interim Director Terry Brunner. He emphasized that Renovate & Reinvest empowers property owners to participate in Albuquerque's transformation by creating lasting improvements that benefit the community and attract more visitors to business districts.

Further details about eligible MRAs' boundaries and improvement types can be found on MRA’s website. For comprehensive information on eligibility requirements and application guidelines for the Renovate & Reinvest program, visit cabq.gov/renovate.