Mixed-Use Multi-Family Residential / Retail Development Opportunity: Request for Proposals

Mixed-Use Multi-Family Residential / Retail Development Opportunity

Reflection Prairie Addition - Block 1

OVERVIEW

The Redwood Falls Port Authority in Redwood Falls, Minnesota is seeking proposals from qualified developers and builders to develop a 12.22 acre parcel of land located in the new Reflection Prairie subdivision. This property is available for multi-family housing and / or light retail use, and the Port Authority will consider all offers, ideas, or plans for the development of the property.

COMMUNITY

Redwood Falls is a vibrant, growing community located in Redwood County in southwest Minnesota. Redwood Falls has a population of 5,102 and is the county seat of Redwood County and serves as a sub-regional economic hub for a market area of approximately 17,000 residents of Redwood and Renville counties. Residents enjoy access to excellent medical, employment, educational and recreational opportunities.

Redwood Falls has:

Numerous recreational opportunities to support a connected and active community including Ramsey Park, the Minnesota River Valley Scenic Byway, city parks, community center, indoor hockey arena, golf courses, dog park, skate park, aquatic center, and athletic fields.
A high-quality education system for learners of all ages with small class sizes.
A new hospital and clinic facility.
A strong, diverse economy and educated workforce.

CITY GOALS FOR PROJECT

Develop new multi-family residential housing that will attract and satisfy market demand.
Promote quality retail development that serves the needs of the Redwood Falls area and will produce tangible benefits for residents, employers, and employees.
Development that expands the City's property tax base and minimizes the City's risk and exposure pursuant to any aspect of the development proposal.
A development concept that is compatible with future phases of the Reflection Prairie subdivision. (For more information on the current and future phases of the Reflection Prairie development project, visit www.redwood-falls.com)

PROJECT SCOPE

BACKGROUND

The Redwood Falls Port Authority purchased 208 acres of land in 2020 for the development of a subdivision to meet the market demand for additional single and multi-family housing. Site work for the Reflection Prairie subdivision began in the spring of 2022, and lots are schedule to be ready for development in the fall of 2023.

The site is located on the southwest corner of the intersection of Highways 24 and 1 and adjacent to Reflection Ridge Business Park. The prime location provides quick access to a variety of nearby amenities and Redwood Falls attractions including CentraCare - Redwood Hospital, Redwood Area Community Center, Ramsey Falls, and Jackpot Junction.

The northern portion of the Reflection Prairie subdivision has been zoned for multi-family housing and light retail use. This request for proposal focuses on the 12.22 acres of land in Block 1, Lot 1. (Additional land for multi-family and light retail use is also available.)

PLAT INFORMATION

POTENTIAL DEVELOPMENT DESIGN

NOTE: The above design is provided as an example of how the site could be developed, but all ideas for development will be accepted for consideration.

ZONING

The site is located in an R-4 District. A zoning map is attached to this request for proposal.
Information on planning and zoning requirements for the City of Redwood Falls can be found at the following link: https://ci.redwood-falls.mn.us/planning-zoning/

LAND PRICE

The respondent shall disclose the price at which they would propose to acquire the site from the Redwood Falls Port Authority.
The Redwood Falls Port Authority, at its sole discretion, will select a "preferred developer'' and initiate negotiations to enter into a Developer's Agreement. Additional performance and development terms will be negotiated within the Developer's Agreement.
The sale of the lot is subject to a Development Agreement which will include a property reverter to the Port Authority if developer does not meet the performance and completion schedule or the design agreed upon under the terms of the Development Agreement subject to all requirements of MN Statute §469.065.

SPECIAL ASSESSMENTS

There are no special assessments on the site.

PROJECT TIMELINES

The Request for Proposals will be released on January 25, 2023. Proposals are due no later than March 31st at 2:00 p.m. The Redwood Falls Port Authority will select a developer/builder by April 21, 2023. Developers are expected to start the project no later than May 1, 2024.

The Redwood Falls Port Authority reserves the right to change any dates. The Redwood Falls Port Authority also reserves the right to reject any and all proposals and to advertise for new proposals.

The Port Authority is offering the property in "as is" condition and makes no representations or warranties regarding geology, soil stability, or environmental conditions.

QUESTIONS

All questions regarding this proposal should be submitted to Keith Muetzel, City Administrator at this email address or (507) 616-7400.

PROPOSAL REQUIREMENTS

Paper proposals are preferred, and all submittals must be clearly marked: "Mixed-Use Multi-Family Residential / Retail Development Proposal”:

City of Redwood Falls
333 S. Washington Street, PO Box 526
Redwood Falls MN 56283
Attn: Keith Muetzel

If respondents are unable to submit a paper proposal, digital proposals are also accepted via email here. Respondents must submit digital proposals as a pdf. The Port Authority is not responsible for proposals that are not able to be opened or too large for electronic submittal.

The City of Redwood Falls will require each proposal to outline all the elements to be included in the project and provide the following minimum information:

Contact Information

Include the name of the company, address, contact person, email, and phone numbers. Additional information may include project general contractor, subcontractors, construction lender and any other consultants.

Project Information

The developer shall provide a project narrative describing the proposed development concept. As applicable, the proposal should also include supplemental information, such as target demographic, total estimated market value of the improvements, proposed ownership, sample price points and a description of possible marketing strategies.

Project Drawings

A scaled site plan indicating location and dimension of the development project.

Financing Information

A statement of financial commitment noting the project costs.

Experience and References

Include examples of previous development projects completed. Please include references from one area lender and one previous customer.

Timeline

A construction schedule that includes a timeline of improvements must be provided.

EVALUATION CRITERIA

The following criteria will be used by the Redwood Falls Port Authority in evaluating project proposals:

Design - project designs that are aesthetically appealing.
Developer Experience- developer/builders experience with similar projects.
Developer Capacity- timelines proposed by the developer/builder to complete the project.