Reno Planet bids #RFP 264 Keystone Avenue Redevelopment

City of Reno Solicits Proposals for 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 - Nevada Division of Environmental Protection (for environmental assessment) - Property Details: - 26,640–28,015 sq. ft. industrial flex building on a 1.205-acre site - Zoned MD-NWQ (Mixed-Use Downtown Northwest Quadrant) - Previously used as a police evidence storage facility; currently vacant - Includes 3,186 sq. ft. of finished office space - 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 design, financial structure, team experience, offer price, and project timeline - Environmental due diligence required (asbestos-containing materials and lead-based paint identified; no active contamination) - Accommodation of existing public infrastructure and easements (ReTRAC retaining wall, storm drain, fire department connections, railroad and sewer easements) - Notable Requirements: - Fair market value set at $2,670,000 (based on independent appraisals) - Estimated refurbishment cost of $1.3 million - Proposals must include a schedule for entitlements, construction, and completion - City reserves the right to negotiate, reject, or modify proposals - No specific OEMs or commercial vendors are named, as this is a real estate and development opportunity rather than a procurement of goods or standard services.

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. 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, enhancing the surrounding area and generating economic activity. Proposals should be financially feasible, compatible with the area, and aligned with the City's vision for reinvestment in key gateway and downtown corridor areas. The City reserves the right to reject any or all proposals and negotiate with proposers.

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