Student Housing Facilities Lease for Athletics

The University of Minnesota is seeking proposals to provide near-to-campus housing options for student-athletes. The university requires a lease agreement for approximately 115 bedspaces, with 2/3 of the beds on a 12-month contract and 1/3 on a 9-month contract. Respondents are expected to provide a proposed monthly rental rate for each unit type, as well as a lease term that follows the dates noted in the RFP. The university is looking for a facility located in close proximity to Athletes Village and requires adequate parking for student-athletes. • The lease term shall start on June 1, 2027, and shall be for a period of 5 years, with options for years 3-5. • The university is open to negotiating early lease terminations with existing tenants to meet the June 1, 2027, desired commencement. • The RFP notes that a 20% weighting is placed on “Proposed Terms and Conditions of Lease” and a 35% weighting is placed on financial offers/costs to the university. • The university is looking for a facility that can provide a range of unit types, including studio/efficiency, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom units.