Description
The City of Albany is seeking a qualified developer to purchase the 0.34‑acre, 13,764‑sq‑ft property at 132‑136 Pine Avenue and execute an adaptive‑reuse redevelopment that creates a mixed‑use, pedestrian‑oriented destination. The developer must finance the acquisition and construction independently, preserve historic character, and meet a series of performance milestones ranging from due‑diligence to substantial completion within two years of closing. Evaluation will be based on concept, financial capacity, experience, and other criteria rather than price alone.
• Purchase and “as‑is” acquisition of the existing commercial building and land.
• Complete due‑diligence, secure financing, obtain historic‑preservation approvals, and construct mixed‑use spaces (food & beverage, creative office, experiential retail, arts, lodging).
• Adhere to a phased schedule: agreement within 90 days of selection, design within 120 days, construction start ≤12 months after closing, and substantial completion ≤24 months after closing.
• Provide required corporate, insurance, bond, and certification documentation; local participation of Albany‑based contractors is encouraged.