The City of Nashua invites qualified developers to submit proposals for redevelopment of a City-owned parcel of land known as the "Nimco Property" a defunct building with adjacent land area ("the Property"). The Property is approximately 3+ acres in land area. It is located in Downtown Nashua off the Veterans Memorial Parkway. The City seeks to lease or sell the Property to a developer, which will develop a market rate residential project, although other uses are allowed. A preliminary conceptual plan and a planning study (see Attachment A) indicates the opportunity for a 150 units of residential housing. This request for Proposals (RFP) requests information concerning the proposer's qualifications and capacity as well as preliminary concept in terms of program, design, and approach. Based upon the City's evaluation of proposals submitted in response to this RFP, the City may either: (1) directly select a proposer with whom to enter into an Exclusive Negotiation Agreement (i.e. a Development Agreement); or (2) invite a shortlist of proposers to present additional details for their proposals which would include financial feasibility and proposed financial terms, and, based on evaluation of such refined proposals, select a proposer with whom to enter into an Development
Agreement. The Development Agreement will create a timeline in which the selected proposer will conduct due diligence, obtain approvals and ultimately outline the transfer
of the Property. The City has the right to waive any informalities in the submittal procedure. The City of Nashua may reject any or all of the proposals on any basis and without disclosure of a reason. Question Deadline 05/23/2023 at 10:00 AM ET Answers / Clarification Posted June 1, 2023 3:00 pm
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