Prime Brush Park Development Opportunity - 227 & 241 Watson
227 & 241 Watson | 14,985 SF
Marketing description
DESIRED DEVELOPMENT PROGRAM
The City seeks a residential development designed in conformance with the Brush Park Form Based Code. Residential proposals may include units for rent or for sale. A minimum of 20% of rental units should be affordable to households earning up to 80% of the Area Median Income.
The site is currently zoned PD Planned Development, however it benefits from its location in the Form Based Code district created specifically for Brush Park to provide residents and developers with a predictable vision of the built environment. All plans should be designed to be consistent with this new code, as provided in this link.
The development site is also located within the boundaries of the local historic district. Development plans will require approval from the Historic District Commission. Respondents will be responsible for conducting their own due diligence on what additional zoning and permitting approvals, if any, may be required.
Key Dates
Marketing Open – Monday, December 9, 2024
Bids Due – Friday, February 7, 2025
Response Packets
Please include the following in your bid request:
1. Letter of Intent: Narrative of respondent’s approach to the development of the site, including proposed programming, unit mix and affordability, and any notable design features.
2. Site Design: Conceptual site plan and precedent images and/or renderings.
3. Financials: Include bid price, sources and uses, and a 10-year pro forma. List specific public sources and incentives and identify any anticipated funding partners.
4. Timeline: Project completion schedule, including public approvals, land sale and financing closings, and construction start and completion.
5. Team and Experience: History and overview of the respondent and team members, including descriptions of other residential or mixed-use developments completed.
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