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University of North Dakota·North Dakota

Mayville P3

Closes 5/21/2026$1.5M – $5MRequest for Proposal
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Description

The University of North Dakota, on behalf of Mayville State University, is seeking a qualified developer to finance, design, construct, lease, operate, and maintain a mixed‑use campus development. The project includes approximately 100 residential beds, short‑term lodging units, and optional retail or athletic amenities on a 1.4‑acre site. The developer will secure financing (primarily via Certificates of Participation or similar lease‑revenue instruments), bear construction and capital‑renewal costs, and lease the completed facility to Mayville State for a 50‑year ground‑lease (extendable to 70 years). Mayville State will operate the facility; the University will handle daily maintenance, while the developer manages major capital work. The RFP requires a full technical proposal and a cost proposal with a financial feasibility model.

Attached files

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

Contact

Sammy Hogan(Procurement Officer)

[email protected]

(701) 777-2771

Key dates

Opened
4/21/2026
Closes
5/21/2026
Duration
50 years

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
236220
Solicitation №
496-2026

Budget estimate

$1,500,000 – $5,000,000

No contract value is disclosed. A mixed‑use campus project of roughly 65,000 sq ft, including 100 residential beds and retail/short‑term lodging, typically ranges from $30 million to $50 million in total development cost. Assuming the developer’s profit margin of 5‑10 % on the construction and lease‑revenue model, the expected earnings could be between $1.5 million and $5 million over the life of the project, with the bulk of revenue coming from lease payments over the 50‑year term.

AI estimate from the solicitation

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