A neighborhood association is closer to approving a self-storage development in Rio Rancho, N.M. The River’s Edge One Neighborhood Association (REONA) voted last week in favor of commercial plans submitted by Titan Development to build an Extra Space Storage facility. If approved, the project will be the operator’s first location in the city, according to the source.
The property at the intersection of N.M. 528 and N.M. 448 would contain three buildings. The parcel is west of Grande Vista Road, behind a Circle K convenience storage and south of Convergys, a call center.
“We didn’t come to a final conclusion yet, but we did agree to work with them and, at this point, there were four issues that needed to be negotiated,” said REONA Vice President Karen Boulanger.
The contentions include the building’s color, the use of bronze-tinted glass, maximum square footage, and the location of a wall separating the property from a residential area. “I think that Titan Development is very sensitive to the history of the property and really does want to work to a mutual agreement,” Boulanger said.
The land’s zoning was changed from residential to commercial special use in 1990, the source reported. In addition, two amendments were enacted in 1999 that allow REONA to attach restrictions on a commercial development’s access, architecture, building color, landscaping and lighting.
Although a date for a final vote has yet to be set, Boulanger told the source REONA members are in favor of the project. “Self-storage kind of connotes a negative look because, typically, a lot of self-storage has chain links that aren’t attractive; but they’re going to make it an attractive facility,” she said. “It’s really going to look like an office building.”
Headquartered in Salt Lake City, Extra Space is a real estate investment trust that owns or operates 1,427 self-storage properties in 38 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 960,000 units and 107 million square feet of rentable space.
Founded in 1999, Titan provides acquisitions, development, construction and property management, and leasing services in the Southwest.