Bid Detail

15-033 - RFP: Purchase & Redevelopment of 270 Bridge Street

The City of Springfield (hereafter \"CITY\") is requesting proposals for the redevelopment of 270 Bridge Street in the Metro Section of Springfield, MA. The City acquired this building via tax title. The Judgment was recorded January 5, 2012 at the Hampden County Registry of Deeds in Book 19069, Page 329.

Bidders should be aware that the property available is one portion of a larger building, including a shared center staircase to access upper floors. The City is not offering, nor does not own, any other portion of the larger building. The building was previously occupied as a ground floor restaurant and upper floor office space. The building sits on Bridge Street near the intersection of Main Street, and directly across from a beautifully landscaped private park, the former site of Steiger's Department Store.

The total building area according to Assessors information is 9,144 square feet which includes 3 floors and a basement. The total land area of this parcel is approximately 3,019 square feet. The assessed value of the property is $224,200. The property has front door access on Bridge Street, and rear door alleyway access.

The building at 270 Bridge, parcel # 01840-0024, is Zoned Business C. and is located in a National Register Historic District. With a downtown location, access to major highways, train, and bus service in all directions is within minutes.

The Metro Center neighborhood includes approximately 620 acres of land at the western edge of the city where the city was initially established and developed. Downtown offers a host of amenities including the Springfield Museums - a collection of five world-class museums and the Dr. Seuss Sculpture Garden, the Springfield Central Library, the MassMutual Center, City Stage and Symphony Hall. Entertainment options abound including AHL's Springfield Falcons, concerts and stage performances at both City Stage and Symphony Hall.

Springfield has long been the regional center for commerce in Western Massachusetts. Downtown has a daytime population that swells with large employers including MassMutual, Peter Pan Bus Lines, Babson Capital, Health New England, Springfield City Hall and School Department, and Baystate Health.

The property is located just around the corner from some recent major investments including the redevelopment of 1550 Main Street, as well as the relocation of New England Public Radio, currently in Amherst with a planned move to the corner of Bridge and Main Street in the upcoming months. Cambridge College has recently relocated to downtown at Tower Square, just one block from this property. The property is three city blocks from MGM's proposed $800 million mixed use entertainment development.

The City is seeking to select a developer who submits the most advantageous proposal consistent with the selection criteria and proposal requirements set forth in this RFP, and who demonstrates the ability to perform as proposed in a timely fashion.

Ground Floor:

The ground floor of the property was most recently utilized as a full service restaurant. All tables, restaurant equipment, and fixtures will be transferred to the new owner. The space includes a small area for outdoor dining by the front door, overlooking Steigers Park, and is well-suited and equipped for a full-service restaurant.

The city seeks to continue and will give preference to an active ground floor use such as a full-service restaurant or a retail store.

An existing exterior steel drop down gate is currently affixed to the front ground floor. This is planned to be removed at the city's expense prior to closing with a new owner. The city will not support the addition of any new exterior security gates at this location.

Upper Floors:

The upper two stories have been utilized for light office and storage space. The city has long been encouraging new market-rate, non income-restricted, housing developments downtown and will give preference for proposals that utilize the space for such use.

The space includes scenic views of downtown and Steigers Park, and a location that is walkable to downtown's major offices, restaurants, and entertainment venues.

The City seeks creative residential housing in this space with, at most, two units, but potentially just one large up-and-down unit. The space lends itself to artist housing as well as market-rate condominium housing. There may be potential to create upper story outdoor space to the rear of the property via 2nd and 3rd story rear doors.

While the City will offer preference to a residential use for the upper floors that would attract owner-occupant downtown residents, it will consider any proposals and/or uses within current zoning. Business C zoning is intended to accommodate retail, office, and upper story residential uses in downtown locations.

Parking is plentiful in the downtown via private lots and public parking facilities. Proposals should clearly state how parking will be addressed for all proposed uses.

While the financial benefits (i.e., price paid for the property, future expected taxes) of a proposal are important to the selection of a developer, coupled with all selection criteria, the City will also consider the broader fiscal and economic benefits to be realized from the redevelopment project. The City will not be obligated to select the proposer offering the highest purchase price if another proposal better satisfies the selection criteria and other requirements of this RFP as a whole.

The city seeks competitive proposals that may include all or some of the following goals:

• Featuring, restoring, and preserving all historic features and attributes of the property
• Creating positive street level activity on Bridge Street
• Developing new upper story residential to attract new downtown residents
• Creating jobs for Springfield residents in the ground floor space
• Expanding the city tax base

Open House is scheduled for August 7, 2014 at 11 AM. Interested parties should arrive promptly. *Open House will end when visitors have completed their inspection. Visitors are expected to arrive promptly at the given time as the property will not remain open if no visitors have arrived at the specified time. Schedule may be modified as needed at the discretion of the City. Bidders will be notified of any changes by a written addendum. All changes must go through the Office of Procurement.

Available Solicitations

As of 11:04 pm Friday, April 26, 2024

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