$92 million state fairgrounds bond goes to Governor -Bill aims to revitalize Albuquerque International District  

SANTA FE — The New Mexico Legislature sent Senate Bill 48 to Governor Michelle Lujan Grisham late Tuesday after the House of Representatives voted to authorize $92 million in bonds to fund the next phase of redevelopment at the New Mexico State Fairgrounds.

The House approved the legislation, sponsored by Senate President Pro Tempore Mimi Stewart and Rep. Janelle Anyanonu, on a 43-6 vote. The bill commits bond funding for land acquisition, water and sewer improvements, new green space and pedestrian safety upgrades along Central Avenue and San Pedro Drive — among the nation’s most dangerous roadways for pedestrians.

“The International District deserves this transformative investment and I’m proud we were able to deliver it,” said Governor Michelle Lujan Grisham. “I appreciate President Pro Tempore Stewart, Representative Anyanonu, and every legislator who partnered with us on developing this exciting new vision for the heart of Albuquerque.”

The $92 million bond package finalizes funding already approved by the State Fair District Board and the State Board of Finance for land acquisition and infrastructure improvements, including a 10-acre public park with trails, play areas and pedestrian safety upgrades along the Fairgrounds boundary. Debt repayment will draw primarily on existing gaming revenues from the Downs Casino and gross receipts taxes generated on site — estimated at approximately $9 million each year combined.

The State Fairgrounds District Board, created by the legislature in 2025, oversees redevelopment of the 236-acre state-owned property. The board does not have authority over whether the State Fair remains at its current location — that decision rests with the State Fair Commission.

A master plan from design firm Stantec is expected to be finalized in March