Acquisitions—Santa Fe, New Mexico

50 East San Francisco Street

In 2007, the Rose Smart Growth Investment Fund acquired 50 East San Francisco Street, a two-story retail building located directly off of the Santa Fe Plaza, a premier pedestrian location in one of the oldest walkable Downtown districts in America. The Plaza on which the building fronts as well as many of the surrounding buildings are listed on the National Registry of Historic Places.

Romero Rose, the southwest affiliate of Jonathan Rose Companies, the leasing and upgrading of the property including: increasing leasable square footage of the building through the restoration of its historic façade; leasing vacant space; converting previous month-to-month tenants to long-term, market-rate leases; greening operations, and making capital investments pursuant to Energy Star guidelines.

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Built in 1872 and renovated several times since, 50 East San Francisco Street's title dates back to 1639 when it was deeded to Antonia Baca, a member of an early settling family from Mexico. In the spirit of respecting the historic district in which the building stands, the project team unearthed an 80-year old photograph that led to approvals from the City to restore the original configuration of the storefront's historic façade. In addition to honoring the building's provenance, the restoration of the façade has increased the leasable square footage.

Located two blocks from the Downtown Transit Center, the Santa Fe Plaza's accessibility to mass transit distinguishes it as one of the strongest pedestrian-based retail locations in the country.

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Project Profile

Rehabilitation of historical downtown retail building

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Project Team
Architectural Alliance, Inc.
Hart Construction
Property Manager:
Romero Rose, LLC
Project Status

Acquired: 2007

Total Project Size / Budget
11,470 SF
$6.89 million