Santa Fe Developer Eyeing 244-Unit Rental Venture

Santa Fe Developer Eyeing 244-Unit Rental Venture
News| May 30, 2025| Mike Boyd
Phoenix & Southwest + Apartment Buildings

Zia Station will provide the land and Aberg Property Co. (APC) will develop Zia Flats, a 244-unit apartment property, as part of Phase I of the Zia Station mixed-use project in Santa Fe. Aberg Property Co. and Zia Station LLC have partnered with Sunward Bank for the financing.

Located at the northeast corner of St. Francis Drive and Zia Road, Zia Flats will offer 24 onsite affordable units, a resort-style pool, clubhouse with coworking space, a fitness center and outdoor space with large courtyards featuring fire pits and other amenities. The asset will consist of six two- and three-story buildings. The new community is expected to be under construction for approximately 22 months and will open in early 2027.

The second phase of Zia Station, which will feature commercial and residential use, is in the early design stages. APC’s main Principals, Peter Aberg and Christopher Ray, have developed a series of boutique and focused communities in Texas and New Mexico since 2016. 

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