Title
Power District Development RFP (B)
Explanation
On April 18, 2016 the CRA issued a RFQ (Request For Qualifications) seeking qualified developers desiring to participate in the redevelopment of the Power District. A total of three proposals were received from the following firms (1) Cross Street Partners of Baltimore, MD; (2) Concept Companies of Gainesville, FL; and (3) 1220G of Gainesville, FL. All three firms that submitted their qualifications have significant development experience and were considered responsive, responsible, and qualified by the CRA Board in July 2016. The motion which was passed in July 2016 was to advance all three firms to the next phase of RFP (Request for Proposals) development solicitations.
Because of the uniqueness of the Power District as well as the significant amount of existing due diligence work with the site, the RFQ to RFP approach has served as a mechanism to announce the CRA’s desire to formalize private public partnerships and begin strategic development driven implementation of the master plan. The solicitation process encourages private investment while also ensuring the community vision and core principles of the adopted 2013 Redevelopment Plan are maintained throughout the development process.
Since CRA Board approval of the rankings in July 2016, Staff has been preparing the subsequent RFP advertisement. This includes completing an appraisal, beginning a Sweetwater Branch Creek Hydrology & Hydraulics analysis, and additional environmental testing. The purpose of this Request for Proposals (RFP) is to evaluate and rank detailed master developer proposals for the next phases of redevelopment in the Power District. We are requesting proposals from the previously qualified development teams that will include a detailed pro forma, financial impacts to the CRA/City/GRU, master site development plan, letters of intent, small/independent/local/diverse tenant and contractor inclusion strategy, and development co...
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