Property Sale & Development - 23 Preston Street / E.D.

The City of Worcester is selling a vacant 5,008 sq ft parcel at 23 Preston Street to a qualified purchaser/developer who will construct a single‑family home subject to a 30‑year affordable‑housing covenant and taxable‑use restrictions. The sale is conducted via a sealed‑bid process; the highest compliant bid (minimum $73,100) wins. The developer must provide a 10 % bid security, obtain all permits, start construction within 30 days of receiving a building permit, and complete the home within 30 months of title conveyance, or the property reverts to the City. • Minimum purchase price $73,100; 10 % bid security required. • Development must meet affordable‑housing eligibility (≤ 80 % AMI), owner‑occupancy, and resale price controls for 30 years. • Title conveyed “as‑is”; developer assumes all environmental, utility, and permitting responsibilities and must indemnify the City.