In this plaza were enacted A. D. 1706 By governor and captain general Don Francisco Quervo Y Valdez cermonies incident to the founding of the villa of Albuquerque named after the Spanish viceroy Don Francisco Fernandex De La Enriquez Duke of Albuquerque. Marker in old - Town plaza commemorating the founding of Albuquerque. There are two Albuquerques. Historic Old Town founded seventy years before the signing of the Declaration of Independence - and the new Modern City, one hundred and seventy-four years later. The two places, so different in tempo and appearance, are joined by Central avenue (U. S. Highway Route 66). Nestling at the base of the beautiful Sandia Mountains the present Albuquerque is spread out over 100 square miles with a population approximating 100,000. all around is the fascination of N. M. and the picturesque Indian Country.