Reno Planet bids #144361

City of Reno Solicits Proposals for Purchase and Redevelopment of 264 Keystone Avenue Property

This opportunity involves the City of Reno's solicitation for the purchase and redevelopment of a city-owned property at 264 Keystone Avenue, Reno, Nevada. - Government Buyer: - City of Reno (Finance Department), with involvement from the City of Reno Public Works and the Nevada Division of Environmental Protection (Brownfields Program) - Property Details: - 1.2-acre site (APN 011-350-30) with a 28,015 sq. ft. industrial building (built 1967, concrete block construction, includes 3,186 sq. ft. of office space) - Previously used as a police evidence storage facility; currently vacant - Market value appraised at $2,340,000 (fee simple interest) - Zoned for mixed-use development (potential for high-density residential and retail) - Permanent easements for railroad and sewer; existing public infrastructure (retaining walls, storm drains, fire department connections) must be accommodated - Products/Services Requested: - Purchase of the property - Redevelopment services including site planning, design, construction, and community reinvestment - Environmental due diligence (Phase I Environmental Site Assessment identified asbestos-containing materials and lead-based paint as recognized environmental conditions) - Appraisal services (already completed) - Unique/Notable Requirements: - Proposals must demonstrate financial capacity and provide redevelopment concepts compatible with the area and city/state economic development goals - Due diligence required for environmental conditions (asbestos, lead-based paint) - Refurbishment cost estimated at $1.3 million - City will evaluate based on public benefit, purchase price, economic impact, compatibility, and alignment with strategic objectives - City may negotiate terms or reject proposals at its discretion - No specific OEMs or commercial vendors are named, as this is a real estate and development solicitation

Description

The City of Reno is seeking proposals from qualified developers, investors, and development teams for the purchase and redevelopment of a city-owned property located at 264 Keystone Avenue, Reno, Nevada. The property was formerly used as a police evidence storage facility and has been vacant since 2025. The city aims to transfer ownership to a developer who can return the site to productive use, strengthen the surrounding area, generate economic activity, and enhance the community. Proposals should present financially feasible redevelopment concepts compatible with the area and aligned with the city's vision for reinvestment in key gateway and downtown corridors. The city reserves the right to reject proposals, negotiate, or terminate the solicitation process at any time.

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