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  5. ›Property Lease & Development - 128 Providence Street / E.D.

Awarded contract·City of Worcester·Massachusetts

Property Lease & Development - 128 Providence Street / E.D.

Won by Rogerson Communities$450kSingle Award
Contract source

Awarded vendors

  • Rogerson Communities

Description

The City of Worcester issued a competitive solicitation (CR‑8199‑W4) for a long‑term lease and redevelopment of the former St. Vincent Hospital Nurses’ Wing at 128 Providence Street. The lease is for 90 years with a minimum annual rent of $5,000, and the award was made to Rogerson Communities. The project requires the lessee to preserve the historic character of the Classical‑Revival building, separate utilities, implement low‑impact development, and meet a detailed schedule for demolition, tenant improvements, and utility work. The solicitation included multiple addenda clarifying site‑walkthrough dates, budget information for the Elder Division, and tenant listings for the senior center. • Lease term: 90 years, annual rent $5,000 (minimum) • Awarded to: Rogerson Communities (single‑vendor award) • Scope: historic‑preservation‑compatible redevelopment, utility separation, LID, and compliance with extensive environmental and workforce‑diversity requirements • Procurement: Open competitive RFP with bid deadline June 26 2024; addenda issued May 21, June 10, and June 20 2024.

Attached files

Key dates

Bids closed
6/26/2024
Contract modified
6/20/2024
Duration
90 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Property Development
NAICS
531110
Solicitation №
CR-8199-W4

Contract value

$450,000

The only monetary figure disclosed is the minimum annual lease payment of $5,000. Assuming the lease runs the full 90‑year term and the lessee pays the minimum amount each year, the total lease revenue to the City would be $5,000 × 90 = $450,000. No development cost or subsidy is provided, and the solicitation explicitly forbids city‑funded incentives, so the contract’s financial exposure is essentially the lease income. Therefore, a reasonable ball‑park estimate of the contract’s value is roughly $450 k over the lease term. If the awardee were to offer a higher rent (common in competitive bids), the actual value could be modestly higher, but without that data $450,000 is the best estimate.

AI estimate from the award documents

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