RFP 26-11 - 550 1st Avenue Lease Opportunity

The City of Fairbanks is seeking a qualified tenant to lease the municipal property located at 550 1st Avenue. The lease includes a multi‑level commercial building and two adjoining lots, and the City is open to a broad range of commercial, cultural, or community‑oriented uses that promote downtown activation. Offerors must submit a concise proposal (≤ 23 pages) with an original ink signature, detailing their intended use, tenant‑improvement plans, financial capability, and relevant experience. The lease term is expected to be between 4 and 10 years, with rent and other financial terms to be negotiated based on market rates. The City will evaluate proposals on activation impact, operational viability, improvement investment, financial strength, and experience. • Lease of a downtown Fairbanks building (approx. 3,700 sf total) plus two adjacent lots. • Open to diverse uses: retail, restaurant, café, tourism, arts, community services, professional services, mixed‑use, etc. • Mandatory submission requirements: sealed physical proposal, original signatures, page limits (2‑page form, 1‑page cover, ≤ 20‑page narrative). • Evaluation weighted heavily toward community benefit (35 %) and operational viability (20 %). • Tenant must finance any improvements, maintain insurance, and may be required to post a performance guarantee.