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  5. ›Commercial Development at 815 S. Riverside Drive

City of Tulsa·Oklahoma

Commercial Development at 815 S. Riverside Drive

Closes 7/24/2024$500k – $2MRequest for Proposal
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Description

The City of Tulsa is seeking a professional developer to create a Route 66‑themed mixed‑use commercial destination on a 2.7‑acre parcel at 815 S. Riverside Drive. The developer must deliver a complete development plan—including site design, financial pro‑forma, construction schedule, and management strategy—while incorporating mandatory elements such as programmable outdoor commercial space, distinctive mid‑century architecture, lake‑front integration, and on‑site parking. Optional components include a hotel/motel (up to ~100 rooms) and signature pedestrian improvements. The city offers up to $4.5 million in public incentives and will provide up to 30 on‑street parking spaces. Proposals must be submitted by July 24, 2024, after attending at least one of two mandatory pre‑proposal virtual conferences. The award recommendation is slated for August 29, 2024, with a one‑year contract term and potential annual renewals. • Mandatory deliverables: executive summary, developer team overview, detailed site plans, financial models, and management company information. • Incentive structure: up to $4.5 M in public funds; optional city‑provided parking and lake‑front amenities. • Evaluation criteria: alignment with RFP goals, developer qualifications, financial capacity, and compliance with submission requirements.

Attached files

Contact

Donny Tiemann(Project Buyer)

[email protected]

Key dates

Opened
4/29/2024
Questions due
7/8/2024
Pre-bid meeting
5/16/2024Mandatory
Closes
7/24/2024
Projected award
8/29/2024
Duration
1 year

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
236220
Solicitation №
RFP 24-925

Budget estimate

$500,000 – $2,000,000

No direct contract fee is disclosed; however, a developer will likely earn a combination of construction profit, management fees, and incentive reimbursements. Assuming a typical construction margin of 8‑12 % on a $30‑$50 million project and potential incentive fees, total earnings could range from roughly $500 k to $2 million. Factors influencing the budget include project size, scope (add‑on hotel), financing structure, and the amount of public incentive secured.

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