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City of New Port Richey·Florida

RFP27-001 Real Estate Developer (rebid)

Closes 10/5/2026$200k – $1MRequest for Proposal
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Description

The City of New Port Richey’s Community Redevelopment Agency is seeking a qualified developer to acquire approximately 5.73 acres of land in the Rivergate‑Palm District and deliver a mixed‑use, transit‑oriented development that includes residential, retail, and commercial components, with modern architectural treatments and limited surface parking. The developer must finance acquisition (totaling roughly $5.5 million) and construct the project, providing detailed financial capacity, design concepts, and project management plans. Evaluation includes in‑person meetings and a board approval process, with the contract award expected in late October 2026. • Acquire five parcels (total ≈ 5.73 acres) under specified purchase prices and option terms. • Design and construct a TOD‑style mixed‑use development (≈ 5‑story residential component, retail/commercial space, community amenities). • Submit a comprehensive financial package, organizational qualifications, and an oral presentation; all materials sealed and delivered by the October 5, 2026 deadline.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Dave Gammon(Economic Development Director)

[email protected]

Key dates

Opened
6/8/2026
Questions due
9/7/2026
Closes
10/5/2026
Projected award
10/20/2026

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
531310
Solicitation №
RFP27-001

Budget estimate

$200,000 – $1,000,000

The RFP does not specify a fee; the developer must self‑fund land acquisition (~$5.5 M) and construction, typically earning profit through sale or lease of the finished units. Assuming a modest developer fee of 5‑10 % of total development cost (land + construction, estimated $30‑$50 M), expected earnings could range from $1.5 M to $5 M. However, consultancy‑type services (financial planning, design, management) often command fees between $200 k and $1 M for projects of this scale. Based on typical industry practice, a realistic budget estimate for the consulting/services portion is $200,000 – $1,000,000.

AI estimate from the solicitation

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