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City of Tulsa·Oklahoma

Vision 2025: Development of a Mixed-Use Route 66 Project

Closes 1/19/2022$1M – $3MRequest for Proposal
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Description

The City of Tulsa is seeking a qualified developer to design, build, and operate a mixed‑use development on a 2‑acre riverfront site that will anchor a Route 66 Interpretive Center, parking, restaurant/retail, and iconic architecture, with optional hotel, residential, or office components. The scope requires detailed architectural plans, a pro‑forma business plan, financing strategy, and a 10‑year financial projection, all delivered within a 30‑page main proposal (plus appendices). The city will provide $5 million in public funding and a long‑term ground lease, while the developer must assume tax responsibilities and meet a 10 % Small‑Business‑Enterprise participation goal. Critical dates include a mandatory pre‑proposal virtual meeting on Nov 9 2021, question deadline Nov 23 2021, and a final sealed‑bid submission deadline of Jan 19 2022. • Core elements: Route 66 Interpretive Center, on‑site parking, restaurant/retail, and signature architecture; optional hotel, residential, office. • Required deliverables: detailed design drawings, business/financial plan, development budget, financing plan, 10‑year ROI analysis, management plan, schedule. • Funding & incentives: $5 M city incentive, ground‑lease land, developer responsible for taxes and equity; must demonstrate audited financial capability. • Mandatory participation: 10 % SBE utilization for any public‑funded portion; mandatory pre‑proposal meeting; notice‑of‑intent required by Nov 3 2021. • Contract terms: 1‑year initial term with up to four optional 1‑year renewals; evaluation based on understanding, qualifications, financial resources, and compliance.

Attached files

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

Contact

Donny Tiemann(Senior Buyer)

[email protected]

(918) 596‑7551

Key dates

Opened
10/4/2021
Questions due
11/23/2021
Pre-bid meeting
11/9/2021Mandatory
Closes
1/19/2022
Duration
1 year

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
531311
Solicitation №
RFP 22‑913

Budget estimate

$1,000,000 – $3,000,000

Based on the disclosed $5 million public incentive and typical development economics for a 2‑acre mixed‑use urban project, total project costs are likely in the $20‑30 million range. Developers usually earn development fees of 5‑10 % of total construction cost plus operating management fees. Assuming a 7 % fee on a $25 million build, the developer’s revenue could be roughly $1.75 million over the first year, with additional upside from long‑term operations. Therefore, a reasonable expected budget range is approximately $1 million to $3 million. Factors influencing the range include final construction cost, scope of optional components (hotel/residential), financing terms, and the ultimate revenue model for the interpretive center and commercial tenants.

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