Development of 342 Main Street

The City of Nashua is seeking proposals from real estate developers to purchase and develop 342 Main Street, a 0.229-acre vacant land with an asphalt parking lot. The city is looking for a proposal that maximizes development potential, provides a high return for real estate taxes, and maintains the character of Main Street. The proposal should include a conceptual site plan, building elevations, and a development schedule. The city will evaluate proposals based on factors such as concurrence with development objectives, proposer's experience and competency, financial capacity, proposed development schedule, and proposed price/tax revenue generation. • The property is located in the D3MU zoning district, which allows for flexible development conditions. • The city has a strong preference for development proposals that exceed the requirements for mixed-use structures and maximize density and tax revenue. • Proposals that incorporate abutting parcels and have agreements with landowners for a complete development of the area are more favorable. • The city will work with the proposer to facilitate access to adjoining parcels for any properties that are within the public domain. • The selected developer will be required to execute a purchase and sale agreement with the city within 90 days of notice of award.