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City of North Olmsted·Ohio

Redevelopment of Pine, Maple & Chestnut Intermediate Schools Request for Qualifications

Closes 1/22/2027$5M – $15MRequest for Qualification
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Description

The City of North Olmsted is seeking qualified real‑estate development firms to acquire and redevelop three former elementary‑school sites (Pine, Maple, Chestnut) into market‑driven residential housing, with mixed‑use options at Chestnut. Developers may submit a single‑site or multi‑site portfolio proposal, must provide a conceptual plan, team qualifications, financial capacity, and a $5,000 good‑faith deposit per site. The project includes demolition of existing school structures, site remediation, rezoning to a Planned Development District, and full utility connections. The total acquisition cost is $3.33 M, and the city expects a 180‑day due‑diligence period after award before construction can begin, with construction slated for 2028. • Acquire one or more of the three parcels (total 39 acres) for $3.33 M total. • Submit a 20‑page RFQ package (hard‑copy and PDF) by Jan 22 2027, with required $5 K per‑site deposit. • Provide detailed pro‑forma covering acquisition, demolition, site work, construction, financing, and developer fee. • Align project vision with the city’s Planned Development District zoning, emphasizing residential/infill and mixed‑use development. • Participate in optional virtual info sessions (Nov 5 & 12) and a mandatory on‑site tour (Nov 19) if desired.

Attached files

Contact

Michiel Wackers(Director, Economic & Community Development)

[email protected]

Key dates

Opened
10/15/2026
Questions due
12/10/2026
Pre-bid meeting
11/5/2026
Site visit
11/19/2026
Closes
1/22/2027
Projected award
3/15/2027

Last updated

Details

Type
Request for Qualification
Industry
Property Development
NAICS
531390

Budget estimate

$5,000,000 – $15,000,000

No direct vendor payment is disclosed; the developer’s revenue will stem from the sale or lease of the residential units built on the sites. Assuming a modest 25–35 % profit margin on a $150 M total construction cost, the developer could earn roughly $5 M to $15 M in profit. This range reflects variability in unit mix, market pricing, and financing terms.

AI estimate from the solicitation

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