Board of Finance approves State Fairgrounds bonding package – Bond enables State Fairgrounds District Board to acquire property

SANTA FE – The State Board of Finance today approved a $22.35 million bonding package for the State Fair District Board, a key step in acquiring a nearly nine-acre parcel for development on the southwest corner of Albuquerque’s State Fairgrounds.

Acquiring the nine-acre parcel will enable the State Fair District Board to move forward with development plans for the entire southwest corner of the Fairgrounds, which include a 10-acre public park with plazas, trails, play areas and restrooms, and pedestrian-friendly upgrades along the Fairgrounds’ boundary.

“The International District deserves world-class public spaces, and this development will deliver accessible parks and amenities that families can enjoy year-round,” said Governor Michelle Lujan Grisham.

The acquisition and development of the parcels, referred to as the “predevelopment plan,” will cost approximately $90.15 million, including the property acquisition cost. The plan’s improvements will be delivered regardless of which of the three Fairgrounds redevelopment proposals unveiled on Monday is selected.

The State Fairgrounds District Board will meet Thursday, Dec. 11 to review the three master plan development concepts released Monday. The State Board of Finance will consider the predevelopment bond on Tuesday, Dec. 16.

The funds are obligated through the State Fairgrounds District’s bonding authority.

The master planning team continues to seek community and stakeholder input. New Mexicans are encouraged to submit online feedback at www.fairgroundsdistrict.nm.gov.

The New Mexico Fairgrounds District Board was created by statute in early 2025 to thoughtfully redesign the Fairgrounds and deliver new community benefits aimed at quickly improving conditions in nearby neighborhoods.