BY MAIRE O’NEILL
maire@losalamosreporter.com
A request by Greg Gonzales, dba Columbus Capital, for a Site Plan year-long extension for a mixed-use development located at 535 Central Avenue, Los Alamos was unanimously approved April 8 by the Los Alamos County Planning & Zoning Commission.
The project, which was approved on April 26, 2023, consists of a 10471 square foot mixed-use development including 322 residential dwelling units and approximately 22,000 square feet of commercial space within the Downtown Los Alamos (DTLA) Zone District.
The required letter to the Community Development Department from Gonzales noted that the Columbus Capital has continued to move the project forward since its initial approval in 2023 but that several external factors have delayed the start of construction. He said challenging real estate including tighter financing and reduced investor liquidity; significant increases in construction costs, including impacts from tariffs on key materials; and additional coordination of financial planning associated with the proposed Metropolitan Redevelopment Area that includes the property.
“Despite these challenges, we have made meaningful progress with the design team through schematic drawings in preparation for construction documents; incorpoated modules for construction of the apartment buildings to reduce costs and shorten the schedule; completed value engineering of the parking garage to lower expenses while maintaining quality and functionality,” Gonzales said. “We remain fully committed to providing a high-quality mixed use development that aligns with the County’s planning goals and develops the Los Alamos community.”
He said an extension would provide the time needed to address current market conditions and finalize financing and construction preparations.
County staff noted that the extension request does not include any changes to the approved site plan or conditions of approval. Staff determined that no substantive changes have occurred to applicable regulations, policies, or site conditions that would affect the original approval.