Albuquerque Old Town Small Businesses See 40% Revenue Growth This Quarter
Small businesses in Albuquerque's historic Old Town district are experiencing their strongest financial performance in over five years, driven by increased tourism and successful community revitalization efforts.
Tourism Boom Drives Success
Visitor numbers to Old Town Albuquerque have increased by 52% compared to the same period last year, with the recent Netflix series "Breaking Bad" tours and renewed interest in Southwestern culture bringing new customers to local businesses.
"We're seeing people from all over the world coming to experience authentic New Mexican culture," said Isabella Martinez, owner of Casa de Ruiz, a family-run restaurant that has operated in Old Town for three generations. "Our sales have increased so much that we've had to hire four additional staff members."
Local Artisans Thrive
Native American jewelry and pottery vendors around the Old Town Plaza report their best quarter since before the 2020 pandemic. Master craftsman Robert Tenorio, whose family has been creating traditional pottery for over 200 years, says demand for authentic pueblo pottery has surged.
The Old Town Artisans Market, featuring 45 local vendors, has seen average daily sales increase from $8,200 to $12,800 this quarter. Many artisans are now taking special orders and shipping nationwide to meet demand.
Infrastructure Improvements Pay Off
The City of Albuquerque's $3.2 million investment in Old Town infrastructure improvements, including new pedestrian walkways, improved lighting, and expanded parking, has created a more welcoming environment for both businesses and visitors.
"The city's commitment to preserving and enhancing Old Town while supporting local businesses has created a winning formula. We're seeing the benefits of those investments now."
— Albuquerque Mayor Tim Keller
New Business Openings
The success has attracted new entrepreneurs to Old Town, with seven new businesses opening in the district since June. These include a specialty coffee roastery, two boutique shops featuring local designers, and a gallery showcasing contemporary Southwestern art.
Commercial real estate agent Patricia Lopez reports that available retail space in Old Town is at its lowest level in eight years, with asking rents increasing by an average of 15% due to high demand.
Community Events Boost Business
Monthly events like the Old Town Farmers Market and the Summer Concert Series have become major draws, with businesses reporting that event days generate 200-300% higher sales than typical weekdays.
The upcoming Old Town Harvest Festival, scheduled for October 12-13, already has 15,000 advance ticket sales and is expected to bring significant revenue to participating businesses.
Challenges and Future Plans
Despite the positive trends, business owners cite staffing shortages and rising commercial insurance costs as ongoing challenges. The Old Town Merchants Association is working with city officials to address parking capacity during peak tourism periods.
Plans are underway for additional infrastructure improvements, including a new visitor center and enhanced wayfinding signage, funded by tourism tax revenue generated by the district's success.