ALBUQUERQUE, N.M. – The iconic Bank of the West building at Central and San Mateo has seen better days. 

But Albuquerque City Councilor Nichole Rogers says it’s set for a comeback along with its sister tower to the north. 

“I think everyone’s excited to get it online,” said Carl Muehlenweg, president of Lobo Internet Services.

Muehlenweg owns radio towers on the building’s roof and spend months trying to protect the abandoned property along with his. 

“We normally see needles on a daily basis. People go to the bathroom everywhere against the side of the building, down the stairwell, it’s terrible. Right now, we’re averaging one break in every other day,” said Muehlenweg.

The city is working with out-of-state developers on the project. It’s called Park Central Apartments. 

According to the latest proposal on the city’s website, the buildings will provide mixed income housing. Renderings show the nine-acre lot between the two could be transformed into 60,000-square feet of retail space and community green space. 

Rogers says that’s a big deal.

“For me, that’s exciting because we have over 8,000 residents in my district who don’t have a car,” said Rogers.

Developers hoped to start construction last November, but a city spokesperson says they haven’t applied for a building permit. 

In September, Mayor Tim Keller signed a bill authorizing a redevelopment tax abatement for the first phase of the project. The agreement gives the developer three years to complete the project.

Muehlenweg says he’s not getting his hopes up yet.

“Until I see 20 construction vehicles and an actual perimeter fence and security it’s hot air, both from the mayor’s side and from the building owner’s side, how else can you take it?” said Muehlenweg.

KOB 4 reached out to the developers for an updated timeline, but never heard back.  

A city spokesperson says the planning department’s Code Enforcement Division is monitoring the site due to ongoing concerns about security.