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  5. ›Property Sale & Development - 146 Goddard Memorial Drive / E.D.

City of Worcester·Massachusetts

Property Sale & Development - 146 Goddard Memorial Drive / E.D.

Closes 5/30/2025$400k – $1MInvitation for Bid
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Description

The City of Worcester is offering the sale of a roughly 6‑acre parcel at 146 Goddard Memorial Drive (Airport District zoning) to a qualified purchaser/developer. The award will be made to the highest compliant bid (minimum price $447,300) and includes a 10 % bid security. The buyer assumes all development responsibilities, including permitting, environmental compliance, construction initiation within 30 days of receiving a building permit, and adherence to design, job‑creation, and taxable‑use requirements. The transaction is “as‑is” with no warranties from the City. • Minimum purchase price: $447,300 (bids may exceed this). • 10 % bid security required (certified check). • Buyer must develop the site for taxable use, obtain all permits, and begin construction within 30 days of permit issuance. • Must comply with A‑1 (Airport District) zoning, environmental indemnification, job‑creation, and design approvals. • All required certifications/forms must be submitted with the bid; deadline extended to May 30 2025.

Attached files

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

Contact

Christopher Gagliastro, Purchasing Director(Purchasing Director)

[email protected]

508-799-1224

Key dates

Opened
3/25/2025
Closes
5/30/2025

Last updated

Details

Type
Invitation for Bid
Industry
Property Development
NAICS
531130
Solicitation №
8403-W5

Budget estimate

$400,000 – $1,000,000

The only explicit monetary figure is the minimum purchase price of $447,300, but the buyer will also incur development costs (site work, permitting, construction, etc.). Assuming a developer aims for a modest profit margin of 10‑15% on the total project cost (including purchase price and development expenses), a realistic budget (gross profit) could range from $400,000 on the low end (if the buyer purchases at minimum price and controls costs tightly) up to $1,000,000 or more for larger‑scale, higher‑value development scenarios. Factors influencing the range include final bid amount, financing terms, scope of improvements, and market conditions.

AI estimate from the solicitation

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