Description
Austin Peay State University seeks a private developer to enter into a long‑term land lease for a state‑owned parcel (Lot 26, 210 College St.) and construct a multi‑unit residential complex that includes a mandatory first‑floor retail component (grocery store, pharmacy, or similar) to serve the downtown community and address a local food‑desert. APSU will provide no financing, environmental, or zoning assistance; the developer must secure all funding, obtain necessary permits, and assume demolition or payment‑in‑lieu responsibilities as defined in the lease. The university is open to reduced ground‑rent payments if the developer guarantees affordable rent for APSU employees, but will not enter partial master‑lease arrangements for faculty or staff units. The procurement follows a two‑phase RFP process with a pre‑proposal conference and site visit on July 16, 2026, followed by Phase I and Phase II proposal deadlines, interviews, and final award in July 2027.
• Land‑lease transaction (no sale) for a parcel intended for an apartment complex with ~1,775+ residential beds and first‑floor retail.
• Developer must provide 100 % financing, handle demolition/payment‑in‑lieu, and comply with all zoning, permitting, and code requirements.
• APSU may accept a lower ground‑rent if affordable housing rates for its employees are guaranteed; no other financial incentives are offered.
• Full schedule includes pre‑proposal conference (July 16, 2026), Q&A deadline (Aug 12, 2026), Phase I submission (Oct 9, 2026), Phase II submission (Jan 5, 2027), and award notice (July 9, 2027).