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The Magdalena Ridge Observatory Interferometer is a 10-element 1.4 meter aperture optical and near-infrared interferometer being built at 3,200 meters altitude on Magdalena Ridge, west of Socorro, NM. The interferometer layout is an equilateral "Y" configuration to complement our key science mission, which is centered around imaging faint and complex astrophysical targets. This paper serves as an overview and update on the status of the observatory and our progress towards first light and first fringes in the next few years. MAGDALENA RIDGE OBSERVATORYThe Magdalena Ridge Observatory is a Federally Funded facility being built and managed by New Mexico Institute of Mining and Technology (NMT) which also serves as host for the observatory offices on the NMT campus in Socorro, NM. The observatory consists of two major facilities: a fast-tracking 2.4 m telescope and an optical interferometer. The 2.4 m telescope obtained first light on Oct. 31, 2006 and is currently moving into full operations. It is a superb instrument for the study of fast-moving objects and targets of opportunity, owing to its very high slew and tracking rates; its operations are currently funded 30% by NASA for NearEarth Object follow-on studies 1 . The optical interferometer is being designed and built in collaboration with our partners at the University of Cambridge, Cavendish Lab. In this last development phase the interferometer is moving towards a first fringes date in late 2010. Phase A of the interferometer build will include 6 telescopes and infrared fringe-tracking and scientific imaging capabilities. Phase B will add 4 more telescopes and associated beam trains, visible operations, and will have an additional location in the beam combining laboratory for guest instruments. (See Figure 1 for views of the two facilities.) The greater observatory facilities include over 8 miles of maintained road, on-site water, power, ethernet, housing facilities and a location on the Ridge for a third scientific facility yet to be determined.