Last Update: 06/21/2006 3:51:24 PMBy: Associated Press
ALBUQUERQUE (AP) – Regents of the University of New Mexico have inked a deal selling more than 3,000 acres for Mesa del Sol.
That’s a long-planned development of nearly 13,000 acres in southeast Albuquerque.
The university sold its acreage for $9 million to Forest City Covington, which is developing Mesa del Sol, which could be home to up to 80,000 people in 50 years.
In the next few years, Mesa del Sol is forecast to have 500 to 800 houses by 2008.
About $7.5 million of the sale signed Tuesday will go to a scholarship fund.
UNM also kept 280 acres in Mesa del Sol for its own uses.
(Copyright 2006 by The Associated Press. All Rights Reserved.)
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