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  5. ›Sale and Redevelopment of property at 60 West Main Street

City of Rexburg·Idaho

Sale and Redevelopment of property at 60 West Main Street

Closes 5/4/2026$5M – $20MRequest for Proposal
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Description

The Rexburg Urban Renewal Agency (RURA) is selling a 3.2‑acre, shovel‑ready parcel at 60 West Main St, Rexburg, ID, and is seeking a developer to submit a mixed‑use master plan that aligns with the City‑Center 2050 vision and the city’s Form‑Based Code. The RFP requires a concise proposal (max 10 pages, plus up to 20 pages of exhibits) that includes a conceptual land‑use plan, development schedule, financial pro‑forma, and three references (including a lender). The highest bid will set the price benchmark, with scoring based 50 % on price and the remainder on quality, financial capability, qualifications, and economic benefit. Construction must commence by December 1 2028, or RURA may repurchase the land at the original price.

Attached files

Contact

Scott Johnson(Economic Development)

[email protected]

(208) 372-2121

Key dates

Opened
3/3/2026
Closes
5/4/2026

Last updated

Details

Type
Request for Proposal
Industry
Property Development
NAICS
531390
Solicitation №
UR‑01‑26

Budget estimate

$5,000,000 – $20,000,000

No direct payment amount is disclosed; the land will be sold at fair market value, with the highest bid used as the price benchmark (example highest bid cited as $6 M). Developers must also fund the full build‑out, which for a 3.2‑acre mixed‑use project in a prime downtown location could range from $30 M to $80 M. Assuming typical developer profit margins of 10‑25 %, the net earnings could fall between roughly $5 M (low‑end profit) and $20 M (high‑end profit). These figures depend on the final sale price, financing structure, and market conditions.

AI estimate from the solicitation

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