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Winrock plan being revised, owners say
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Winrock lives.
The Northeast Heights shopping center's owners said Wednesday they intend to rebuild the mall, even though spiraling construction costs have delayed redevelopment.
"We will revisit the scope of the project and find a way to retool to bring the costs down and deliver a new center," said Theresa Miller, spokeswoman for Prudential Real Estate Investors of Parsippany, N.J.
"It may wind up being something different," she said. "All the balls are in the air right now."
Winrock's 82-acre site at Louisiana Boulevard Northeast and I-40 had been slated for significant redevelopment.
The plans the owners filed with the city in May 2005 called for 66 multifamily housing units, 174 hotel rooms, new retail and restaurant space, a movie theater and office units. Since then, leases for stores within Winrock's walls were not renewed.
Dillard's and Bed Bath and Beyond were to stay as anchors to a new open-air center.
Miller did not have a timeline for the revised plan.
"We're hoping sooner rather than later," she said.
"We're working on it. It's only been a week since we came to the conclusion we needed to take a step back and take a deep breath."
She said abandoning the project is not an option.
"We know Winrock is kind of the favorite son in the mall world," she said.
Construction estimates, not actual bids, came in much higher than anticipated, Miller said.
A new mall will serve its current tenants and its future unnamed tenants, she said.
"Whatever plan we come up with has to work for them," she said.
Borders Books Movies & Cafe plans to relocate north of Winrock in the new ABQ Uptown center opening next month, a Borders spokeswoman said.
The move was planned before the Winrock owners decided to delay redevelopment, said Borders' Holly Stein.
Karen Marcotte, owner of Albuquerque firm Consensus Planning, the Winrock project planner, said she was notified about a week ago that the mall's owner was suspending the project.
Marcotte said she was not told when the mall's owner would reassess the situation.
For the planning firm, at least, it's a matter of waiting, Marcotte said.
"We've just been put on an indefinite hold."
