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  5. ›Property Sale & Development - 146 Goddard Memorial Drive…

City of Worcester·Massachusetts

Property Sale & Development - 146 Goddard Memorial Drive / E.D.

Closes 5/30/2025$500k – $2MInvitation for Bid
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Description

The City of Worcester is offering a vacant 6‑acre parcel at 146 Goddard Memorial Drive for sale, with the condition that the purchaser/developer must develop the site for a taxable use in accordance with Airport District (A‑1) zoning. The solicitation requires a minimum bid of $447,300, a 10 % bid security, and extensive developer obligations including environmental remediation, utility installation, permitting, and design approvals. Bids are to be submitted by May 30, 2025 10:00 a.m.; the highest compliant bid will be awarded, and the developer must commence construction within 30 days of receiving a building permit. • Minimum bid price: $447,300 (plus 10 % security) • Zoning: Airport District (A‑1) – taxable use required • Development obligations: site work, environmental remediation, permits, design approval, parking, indemnification, non‑discrimination compliance • Bid submission deadline: May 30, 2025 10:00 a.m. (extended by Addendum 1) • No award has been made yet; proposals remain open.

Attached files

Contact

Christopher Gagliastro, Purchasing Director(Purchasing Director)

[email protected]

508-799-1224

Key dates

Opened
3/25/2025
Closes
5/30/2025

Last updated

Details

Type
Invitation for Bid
Industry
Property Development
NAICS
531390
Solicitation №
8403-W5

Budget estimate

$500,000 – $2,000,000

The base purchase price is $447,300, but the developer will incur substantial development costs (site work, utilities, permitting, construction) that typically range from $1 million to $2 million for a 6‑acre commercial parcel in Massachusetts. Assuming a modest profit margin of 10‑20 % on total development cost, the net earnings could fall between $500,000 and $2,000,000. Therefore, a realistic budget estimate for the client (as a buyer‑developer) is roughly $0.5 M‑$2 M, depending on project scope, financing, and market conditions.

AI estimate from the solicitation

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