Property Sale & Development - 26 Claridge Drive / E.D.

This contract is a municipal real‑estate sale and development opportunity for a 10,000‑sq‑ft parcel at 26 Claridge Drive, Worcester, MA. The City of Worcester is selling the property to a qualified purchaser/developer who must construct a single‑family, owner‑occupied home and, if electing the affordable‑housing option, impose a 30‑year affordability restriction. The awardee, Goventure Capital Group, secured the contract with a bid of $90,000. The procurement was conducted via a sealed‑bid Request for Bids (RFB 8410‑W5) with a bid deadline of May 14 2025. Key elements include a required 10 % bid security, a 120‑day proposal validity period, and strict timelines: title must be conveyed within 30 days of permit issuance, construction must start within 30 days of the permit, and be completed within 30 months of title conveyance, otherwise the property reverts to the City. • Sale of a city‑owned parcel with an existing single‑family home; new owner must develop the site for a taxable, owner‑occupied residence. • Affordable‑housing option imposes a 30‑year income‑and‑price restriction; market‑rate option allows a higher minimum bid. • Competitive sealed‑bid process; award made to the lowest compliant bid (Goventure Capital Group at $90,000).