Reno Planet bids #RFP 264 Keystone Avenue

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 the city-owned property at 264 Keystone Avenue, Reno, NV. - Government Buyer: - City of Reno, Finance Department - Property previously used as a police evidence storage facility - Property Details: - 1.2-acre site with a 26,000+ sq. ft. (appraisal: 28,015 sq. ft.) industrial building - Zoned for mixed-use in the Downtown Northwest Quadrant - Includes 3,186 sq. ft. of finished office space - Permanent easements for railroad and sewer must be accommodated - Products/Services Requested: - Purchase and redevelopment of the property - Redevelopment concepts must be financially feasible, compatible with the area, and align with the City's vision for downtown reinvestment - Proposals must address flood mitigation, energy efficiency, and community benefit - Environmental requirements: potential asbestos-containing materials and lead-based paint due to building age; compliance with abatement regulations required if renovation or demolition occurs - Notable Requirements: - Proposals evaluated on public benefit, purchase price, economic impact, compatibility, and alignment with strategic objectives - Fair market value set at $2,670,000 (appraisal also notes $2,340,000) - No specific OEMs or vendors named, as this is a real estate and development solicitation - Environmental site assessment completed; no active contamination or environmental liens found - Estimated refurbishment cost of $1.3 million - Attachments include a Phase I Environmental Site Assessment and an independent property appraisal

Description

The City of Reno is seeking proposals from qualified developers, investors, and development teams for the purchase and redevelopment of the City-owned property located at 264 Keystone Avenue, Reno, Nevada 89503 (APN 011-350-30). The property was formerly used as an evidence storage facility by the Reno Police Department and has been vacant since 2025. The City aims to transfer ownership to a developer who can return the site to productive use through private investment that strengthens the surrounding area, generates economic activity, and enhances the community. Proposals should be financially feasible, compatible with the surrounding area, and consistent with the City's vision for reinvestment in key gateway and downtown corridors. The City reserves the right to reject any or all proposals and negotiate with proposers as deemed appropriate.

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