Description
Austin Peay State University is seeking a qualified developer to design, build, finance, operate, and maintain a new student‑housing complex (approximately 400‑600 beds) on its “Lot 30” site in Clarksville, TN, with occupancy targeted for Fall 2029. The developer will enter a ground‑lease public‑private partnership, retain ownership of the improvements, and may be required to sell them back to the University under an option to purchase. The scope includes full furnishing of residential units, provision of common‑area amenities, custodial and facility‑maintenance services, and a per‑bed service fee of $690 for leasing‑related functions. The project demands detailed financing proposals, operational plans, and a comprehensive pro‑forma, with a multi‑stage evaluation process culminating in a Best‑and‑Final‑Offer (BAFO) stage.
• Ground‑lease DBFOM model — design, construction, financing, operation, and maintenance of a 1.6‑acre, 400‑600‑bed student housing development.
• Full‑service requirements — furnished apartments, common‑area amenities, parking, utilities, IT infrastructure, custodial, landscaping, and a $690/bed service fee for leasing‑related activities.
• Multi‑phase selection — Step 1 proposal due Nov 9 2026, Step 2 proposal due Feb 5 2027, BAFO deadline Apr 1 2027, with final award expected Apr 15 2027.
• Financial expectations — developer must propose upfront payments, ground rent, profit‑sharing or comparable revenue streams; no total project budget disclosed.
• Timeline — design and construction must be completed for a Fall 2029 opening, with a ground‑lease term likely spanning 30 years.