The District Brings Albuquerque a New Courtyard by Marriott and the Next Chapter of Volaré Rooftop Bar
ALBUQUERQUE, NM – OCTOBER 8, 2025 – Black Bear Development LLC, in partnership with the Sandia Foundation, today announced plans for The District, a transformative mixed-use development at 1300 Lomas Blvd. NE that will bring together hospitality, retail, dining, and community spaces in a bold new way.
Anchoring the project will be a 140-room Courtyard by Marriott, managed by Total Management Systems, Inc. (TMS)—the Albuquerque-based hospitality company that oversees 10 hotels across New Mexico, including the recently opened Element by Westin and its acclaimed Volaré Rooftop Bar. Construction is being led by Sundaram Builders, Inc., serving as General Contractor.
The Courtyard will include the second Volaré Rooftop Bar, following the success of the original location in Uptown. Inspired by its popularity and reputation as one of Albuquerque’s premier rooftop experiences, the new bar will offer a fresh vantage point over the city with stunning sunset views. Conveniently located near the University of New Mexico, it will provide students, faculty, visitors, and locals with a unique new gathering place in the heart of Albuquerque.
In addition to the hotel, The District will include nearly 20,000 square feet of retail and dining space, two standalone restaurant buildings, and a central public plaza designed as a hub for gatherings, performances, and events. The development will also provide opportunities for collaboration with the University of New Mexico, including internships and workforce initiatives to prepare future leaders in hospitality and retail.
The District is also distinguished by its unique partnership with the Sandia Foundation, which owns 24% of the project. True to its mission, all proceeds from the Foundation’s share will go directly toward University of New Mexico scholarships. This connection ensures that the success of The District will not only enhance Albuquerque’s hospitality and retail scene but also directly invest in the education of future generations at UNM.
“Our vision for The District goes beyond bricks and mortar,” said Prakash Sundaram, co-owner of Black Bear Development LLC. “It’s about creating an experience that brings people together—a place where visitors, locals, students, and professionals can connect, dine, stay, and engage with the community.”
With construction well underway, The District is positioned to become one of Albuquerque’s most dynamic destinations—an elevated experience for guests and residents, and a sought-after hub for investors, business owners, and entrepreneurs. More than a development, it is envisioned as a catalyst for collaboration, innovation, and sustainable growth in the city’s evolving urban core.
Led by Prakash Sundaram and Nathan Koontz, Black Bear Development LLC brings over 60 years of combined expertise in hospitality, real estate, and project management. Their proven track record ensures that The District will deliver lasting value for the community while creating compelling opportunities for local businesses, retailers, and partners.
About Black Bear Development LLC
Black Bear Development LLC is a premier commercial real estate development firm known for shaping vibrant, sustainable communities. Led by Prakash Sundaram and Nathan Koontz, the company brings more than 60 years of combined expertise in hospitality, real estate, and project management.
About Total Management Systems, Inc.
Total Management Systems, Inc. (TMS) is an award-winning hospitality management company headquartered in Albuquerque, NM. With 10 hotels across New Mexico—including Marriott, Hilton, and Choice brands—TMS is recognized for its commitment to excellence, its people-first culture, and its deep investment in the communities it serves.
About Sundaram Builders, Inc.
Sundaram Builders, Inc. is a trusted New Mexico-based general contracting firm with a reputation for delivering projects that combine quality, innovation, and efficiency. With extensive experience in hospitality, commercial, and mixed-use developments, Sundaram Builders is dedicated to shaping projects that strengthen communities and stand the test of time.
For more information, please contact Joesolie Ramos, Corporate Director of Sales & Marketing at (505) 831-4200 option 2 or email Joesolie@tmsnm.com.
Anchoring the project will be a 140-room Courtyard by Marriott, managed by Total Management Systems, Inc. (TMS)—the Albuquerque-based hospitality company that oversees 10 hotels across New Mexico, including the recently opened Element by Westin and its acclaimed Volaré Rooftop Bar. Construction is being led by Sundaram Builders, Inc., serving as General Contractor.
The Courtyard will include the second Volaré Rooftop Bar, following the success of the original location in Uptown. Inspired by its popularity and reputation as one of Albuquerque’s premier rooftop experiences, the new bar will offer a fresh vantage point over the city with stunning sunset views. Conveniently located near the University of New Mexico, it will provide students, faculty, visitors, and locals with a unique new gathering place in the heart of Albuquerque.
In addition to the hotel, The District will include nearly 20,000 square feet of retail and dining space, two standalone restaurant buildings, and a central public plaza designed as a hub for gatherings, performances, and events. The development will also provide opportunities for collaboration with the University of New Mexico, including internships and workforce initiatives to prepare future leaders in hospitality and retail.
The District is also distinguished by its unique partnership with the Sandia Foundation, which owns 24% of the project. True to its mission, all proceeds from the Foundation’s share will go directly toward University of New Mexico scholarships. This connection ensures that the success of The District will not only enhance Albuquerque’s hospitality and retail scene but also directly invest in the education of future generations at UNM.
“Our vision for The District goes beyond bricks and mortar,” said Prakash Sundaram, co-owner of Black Bear Development LLC. “It’s about creating an experience that brings people together—a place where visitors, locals, students, and professionals can connect, dine, stay, and engage with the community.”
With construction well underway, The District is positioned to become one of Albuquerque’s most dynamic destinations—an elevated experience for guests and residents, and a sought-after hub for investors, business owners, and entrepreneurs. More than a development, it is envisioned as a catalyst for collaboration, innovation, and sustainable growth in the city’s evolving urban core.
Led by Prakash Sundaram and Nathan Koontz, Black Bear Development LLC brings over 60 years of combined expertise in hospitality, real estate, and project management. Their proven track record ensures that The District will deliver lasting value for the community while creating compelling opportunities for local businesses, retailers, and partners.
About Black Bear Development LLC
Black Bear Development LLC is a premier commercial real estate development firm known for shaping vibrant, sustainable communities. Led by Prakash Sundaram and Nathan Koontz, the company brings more than 60 years of combined expertise in hospitality, real estate, and project management.
About Total Management Systems, Inc.
Total Management Systems, Inc. (TMS) is an award-winning hospitality management company headquartered in Albuquerque, NM. With 10 hotels across New Mexico—including Marriott, Hilton, and Choice brands—TMS is recognized for its commitment to excellence, its people-first culture, and its deep investment in the communities it serves.
About Sundaram Builders, Inc.
Sundaram Builders, Inc. is a trusted New Mexico-based general contracting firm with a reputation for delivering projects that combine quality, innovation, and efficiency. With extensive experience in hospitality, commercial, and mixed-use developments, Sundaram Builders is dedicated to shaping projects that strengthen communities and stand the test of time.
For more information, please contact Joesolie Ramos, Corporate Director of Sales & Marketing at (505) 831-4200 option 2 or email Joesolie@tmsnm.com.
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