Description
The City of Fairbanks is seeking a private‑sector developer to purchase the city‑owned “Polaris” site at 123 Lacey Street and execute a mixed‑use redevelopment. The developer must acquire the City‑West parcel (13,614 sf) and, where applicable, the adjacent City‑East parking area, provide ground‑floor active uses fronting the street, supply interim public parking if the East parcel is not developed simultaneously, and commence construction within 12 months of selection. Proposals must include team qualifications, site‑control documentation, design concepts, preliminary cost estimates, financing plans, community‑engagement strategies, and compliance with safety, accessibility, and winter‑maintenance criteria. The City will evaluate proposals on weighted criteria covering design, safety, walkability, parking strategy, financial feasibility, and community impact.
• Acquire and redevelop the 35,674 sf downtown block (City‑owned portion ≈ 20,898 sf).
• No permanent at‑grade surface parking on the City‑West parcel; ground‑floor retail/food/community uses required.
• Provide interim public parking on the City‑East parcel if development is phased.
• Submit a comprehensive proposal by July 31 2026 covering design, financing, team experience, and community benefits.
• Construction must start within 12 months of developer selection, with a minimum 120‑day proposal validity period.