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Rio Rancho Estates to shift emphasis to development
Rio Rancho Estates Inc. plans to reduce land sales and focus on development in Rio Rancho. Floyd Bailey of AMREP Corp. told Sandoval County Commission that the firm will scale back road maintenance and let the county manage 839.1 miles of subdivision roads. A paving project on Southern Blvd and 20th Street is slated, with detours to Broadmoor and Country Club Drive, and completion expected by mid May. The firm expects 90 percent of revenue from housing and commercial development, expanding into Unit II and Rolling Hills with new utilities, aided by 95 percent conventional financing from Albuquerque Federal Savings and Loan. County funds for road maintenance total about $60,000 in state aid. Continued on page WV.
MENTIONED IN THIS ARTICLE
Rio Rancho Estates, Inc
Rio Rancho
Floyd Bailey
Amrep Corp
Sandoval County Commission
Bailey
Commission
Southern Blvd
20Th Street
20Th
Broadmoor
Country Club Drive
Rio Rancho Estates
Unit Il
Str Heights
Rolling Hills
Albuquerque Federal Savings and Loan Association
County Commission
R.W. Johnson
Cuba
Sandoval
Johnson
5Th Street
Sth
J.R. Hale Contracting Co., Inc
Albuquerque