Grant Program to Fund Improvements in Key Redevelopment Areas

ALBUQUERQUE – The Metropolitan Redevelopment Agency (MRA) has launched Renovate & Reinvest, a property improvement match grant program. The program will help business owners in five eligible Metropolitan Redevelopment Areas (MRAs) make meaningful improvements to their buildings.

Through this matching grant, business owners are eligible to receive up to $95,000 per fiscal year to enhance the aesthetics and functionality of their buildings, fostering business growth and enhancing community pride. A cash match is required for all awards, which is based on business size. The pilot program is open to properties located within the Barelas, Downtown, East Downtown, Menaul, and University MRAs, with applications being accepted on a rolling basis until funds are fully allocated.

Through Renovate & Reinvest, MRA is incentivizing local property owners to make long-lasting improvements that will continue to spur the growth and vibrancy of our communities.

“We're helping local business owners improve their curb appeal and be part of the vision for a better, stronger Albuquerque,” said Mayor Tim Keller. “This funding will help businesses make a real difference in the look and feel of our neighborhoods, and revitalize key areas of our city.”

Eligible improvements include but are not limited to façade upgrades, exterior painting, signage, lighting, security systems, structural repairs, HVAC installation, accessibility enhancements, and energy conservation improvements. Funding will be awarded competitively, with an emphasis on enhancements that produce a clear visual impact at the ground-floor level, further encouraging pedestrian traffic and economic activity within Albuquerque’s MRAs.

“This is a powerful opportunity for property owners who want to reinvest in their buildings and contribute to the city’s broader redevelopment goals,” said MRA Interim Director Terry Brunner. “Renovate & Reinvest empowers property owners to take part in Albuquerque’s transformation, creating lasting improvements that support our community, enhance safety, and attract more people to our thriving business districts.”

Detailed boundaries of eligible Metropolitan Redevelopment Areas can be found on MRA’s website, along with a comprehensive list of eligible improvements. For more information on the Renovate & Reinvest match grant program, including eligibility requirements, application details, and guidelines, visit cabq.gov/renovate.