By Stephanie Guzman, Reporter for Albuquerque Business First:

Downtown Albuquerque is now lined up to receive a $24 million investment toward three main projects that are expected to further revitalize the corridor.

The funds, approved unanimously by the Albuquerque City Council Monday night, will be used for further renovations to the Albuquerque Convention Center, upgrades at Civic Plaza and a new city-owned parking garage.

The $24 million will come from bonds leveraged against the city's lodgers' tax. Mayor Richard Berry first proposed plans for the three projects in November.

The majority of the money — $15.5 million — will be spent on a 400-space parking structure on the northeast corner of First Street and Central Avenue. The parking garage is part of a proposed Downtown entertainment district and multifamily living project called One Central.

Civic Plaza would get $2 million to replace an its existing fountain and add new shade structures. And $5 million would go towards a retractable, convertible-style arena in the east area of the convention center. The retractable arena would be able to seat up to 10,000 spectators. In addition, Downtown parking meters would receive a $1 million upgrade. Click here to read the full article.