Bid Banana
PricingBid helpAPILog inStart free trial
Log inStart free trial

Learn more

  • Maine guideMaine Bids and Bidding Guide
  • Property Development RFPsProperty Development Bids and Bidding Guide
  • How to answer an RFPChoosing and Responding to Government Bids
More real estate development bids →Must-win bid? Bring in The Bid Lab →
Bid Banana
SearchPricingBid helpBrowse bidsAPISupportFAQPrivacy PolicyTerms of UseAI Use Policy

This website and its content is copyright of The Bid Lab © 2026. The Bid Lab is a trademark of Bid Lab, LLC. All rights reserved.

  1. Bid Banana
  2. ›Bids
  3. ›Maine
  4. ›Closed bids
  5. ›RFQ- Federal Street - Development

City of Presque Isle·Maine

RFQ- Federal Street - Development

Closes 5/2/2025$1M – $5MRequest for Proposal
Bid source

This opportunity has closed.

Bid Banana tracks 1.6M+ bids and awards across all 50 states. Save a search and we'll email your new matches, daily or weekly — so the next one reaches you with time to bid.

Get alerted next time

Description

The City of Presque Isle is seeking a qualified developer to transform a vacant 3.27‑acre urban residential lot at 30 Federal Street into a mixed‑residential community that meets high‑quality, energy‑efficient, and affordable‑housing standards, with required green/recreational spaces. The developer must submit a sealed proposal that includes a conceptual site plan, timeline, financial capacity evidence, and required insurance/bond assurances. The property will be conveyed “as‑is‑where‑is” via quit‑claim deed, and the developer assumes responsibility for title search, utility connections, and compliance with all applicable regulations.

Attached files

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

Key dates

Opened
6/1/2026
Questions due
4/30/2025
Closes
5/2/2025

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
236210

Budget estimate

$1,000,000 – $5,000,000

While the solicitation does not disclose a payment amount, the project involves developing a 3.27‑acre site into ~20‑30 residential units. Assuming an average construction cost of $150‑200 per square foot for mid‑rise multifamily housing (≈15,000‑20,000 sf per unit), total construction costs could range from $45 million to $120 million. Typical developer profit margins on such projects are 8‑15 %, suggesting potential earnings between $3.6 million and $18 million. Because the City is not providing direct funding and the developer must finance the build‑out, the realistic net profit after financing costs may be lower, roughly $1 million to $5 million. This estimate reflects uncertainties in unit mix, market conditions, and financing structures.

AI estimate from the solicitation

Similar opportunities

Matched by Bid Banana AI™

Bid Banana · 1.6M+ bids and awards 🍌

You found this one too late. Don't find the next one too late.

Bid Banana searches open government bids across all 50 states, updated daily. Save a search once and we email you your new matches, daily or weekly, while there is still time to win them.

1.6M+
bids & awards
All 50
states
4,000+
agencies
Start your 7-day free trial

Plans from $49.99/month. Cancel anytime, no setup fees.

Built by The Bid Lab, answering RFPs since 2017.

We’re still matching similar opportunities to this one — check back soon.