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  5. ›Request for Proposals for Leasing Opportunity for 91…

City of Asheville·North Carolina

Request for Proposals for Leasing Opportunity for 91 Riverside Drive

Closes 8/31/2026$200k – $500kRequest for Proposal
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Description

The City of Asheville seeks a for‑profit or non‑profit partner to lease a 1.03‑acre, flood‑plain parcel at 91 Riverside Drive and activate it as a low‑impact, flood‑resilient public open space that aligns with the city’s “Live With the River” strategy and supports economic revitalization of the River Arts District. The tenant must design and construct flood‑tolerant installations, preserve a historic smokestack, operate the site at no cost to the city, and comply with Brownfields and storm‑water requirements. The lease can be a standard 5‑year term (with one optional 5‑year renewal) or a 15‑year public‑purpose lease for nonprofits, with rent at fair market value unless an in‑kind benefit is demonstrated.

Attached files

Contact

Rachel Taylor(Economic Development Division Manager)

[email protected]

Key dates

Opened
7/20/2026
Questions due
8/12/2026
Pre-bid meeting
8/4/2026Mandatory
Site visit
8/4/2026Mandatory
Closes
8/31/2026
Projected award
11/1/2026
Duration
10 years

Last updated

Details

Type
Request for Proposal
Industry
Real Estate
NAICS
531120
Solicitation №
298-FY27-HED-RFP-91RiversideDrLeasingOpp

Budget estimate

$200,000 – $500,000

No explicit financial terms are disclosed. Based on comparable market rents for a 1.03‑acre (≈44,938 sq ft) parcel in Asheville, annual lease rates typically range from $5 to $10 per square foot, yielding an estimated annual rent between $225,000 and $450,000. Assuming a 10‑year lease, total revenue could fall between $2.2 million and $4.5 million. This estimate assumes market‑rate rent; a non‑profit in‑kind arrangement could lower cash payments but add value via public‑benefit services.

AI estimate from the solicitation

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