The site of a downtown parking lot could potentially be redeveloped into 80 apartment units geared to enhance economic activity near Main Street in Nashua, New Hampshire.
The City of Nashua invites qualified developers to submit proposals for redevelopment of a City-owned parcel of land known as the “School Street Parking Lot” (“the Parcel”). The Parcel is 29,700 square feet in area. It is located in the heart of Downtown Nashua one block from Main Street.
The City seeks to enter into an exclusive negotiation agreement with a developer which will develop a market rate residential project, although other uses are allowed. A preliminary conceptual plan (see Appendix E) indicates the opportunity for a 60- to 80-unit residential project. Supplementing on-site parking through utilization of the adjacent High Street Municipal Garage is encouraged.
The RFP summarizes the opportunity, including market area characteristics, downtown profile, the Parcel location, profile, zoning, and parking. It details the City’s objectives for the project, submission requirements, and the process for reviewing proposals, including evaluation criteria, and process for land deposition.
“The Economic Development Division is looking to better manage its assets to generate new revenue sources for the city, and help generate vitality downtown,” said Jim Vayo, the city’s downtown specialist.
The parcel, nearly 30,000 square feet, is located about one block from Main Street, and is situated across from the Harbor Homes facility on High Street. It now serves as a public parking lot.
“This opportunity includes immediate access to municipal parking, and approximately 1 million square feet of retail/mixed use space within 15 minutes walking distance of the parcel,” states the RFP.
Bid date: March 30, 2017, 3:00pm
Downtown Specialist – Economic Development
City of Nashua
229 Main Street
Nashua, NH 03060
Phone: (603) 589-3070
Image via Google Maps.