Geltmore, LLC, the developer of the future Aldea El Paso project (aldeaelpaso.com), has been granted an extension of its agreement with the City to construct a SmartCode community on the city’s west side. The 200+ acre property is located between Interstate 10 and Mesa Street just north of Executive Center Boulevard
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| Rendering of the Aldea Rambla town center area. (aldeaelpaso.com) |
Construction was required to begin on the project by May 17, 2013, but has been delayed. Geltmore will now get 12 additional months to break ground with construction starting by May of 2014.
According to the City Council agenda item seeking the extension, the Texas Department of Transportation has not yet approved a pass-through financing project to construct a frontage road between I-10 and the Aldea development. This is one of the original five conditions on which construction is dependent.
Aldea El Paso will be developed to SmartCode standards and will create over one million square feet of retail/entertainment space, 250,000 square feet of office space, and 350 rooms between two hotels. A mix of housing options will make up 1,245 residential units.
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| Aldea will be developed to SmartCode standards. |
Aldea will line 3,300 feet of I-10 frontage and will also have access points on I-10, Executive Center Boulevard, and Mesa Street. It will also connect to the Montecillo SmartCode development immediately to the north. That project is already under construction.
The El Paso City Council approved the item to extend the construction deadline at its June 4, 2013, meeting with a vote of 7-1. There is also an incentives agreement between Geltmore and the County of El Paso which has a construction commencement deadline in the fall of 2013.