New Bedford, Massachusetts Development News
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South Coast Investments and Gavuj Development Recommended for Fire Station Redevelopment
The city has received proposals for the disposition and development of Fire Station 3 (834 Kempton Street) and Fire Station 11 (745 Brock Avenue). Following an evaluation by a committee from the Office of Housing and Community Development, a recommendation has been made to award Fire Station 3 to South Coast Investments and Fire Station 11 to Gavuj Development. Both firms were selected in a previous RFP process but withdrew due to clawback issues. The committee found that while Divine Contractors Incorporated/Freedom Realty Group also submitted proposals and offered a higher financial bid ($75,000 per building compared to $50,000), Gavuj Development and South Coast Investments provided more detailed budget plans, site plans, and floor plans, with shorter projected timelines. The committee deemed their proposals 'highly advantageous' due to the level of preparation, while rating the other firm's proposals as 'advantageous'.
Port Authority to Sell Maritime Terminal Property Subject to Existing Lease
The New Bedford Port Authority is proposing to sell the real property located at 276 MacArthur Drive, comprising Assessors Map 59, lots 170, 171, 173, and 149 and 217. This property is currently under a 99-year lease to Ross Seafoods, with approximately 45 years remaining, generating $12,000 annually. The Port Authority has identified significant repair needs for the property, estimated at over $25 million, which they deem an unfavorable return on investment given the current lease income. The sale will be conducted via an open Request for Proposals (RFP), with any successful bidder acquiring the property subject to the existing lease. The Port Authority plans to assist the future owner with permitting processes due to their past involvement with the Superfund site. The council will be presented with the selected proposal for approval at a later date.
City Council Considers RFPs for Five Properties to Spur Development
The City Council is considering a Request for Proposals (RFP) for the disposition and development of five city-owned properties: the former police station at 170 Cove Street, the New Bedford Armory at 989 Pleasant Street, the former Phillips Avenue School at 249 Phillips Avenue, the former Horatio A. Kempton School at 135 Charmett Avenue, and the former William H. Taylor School at 620 Brock Avenue. This is a reissue of RFPs for the Kempton and Taylor Schools due to legal issues with the previous RFPs regarding restrictive clawback provisions that deterred lenders. The RFPs have been modified to allow for more flexibility in purchase and sale agreements, particularly concerning timelines for financing, permitting, and construction, to encourage development. The RFPs are geared towards housing development, with a preference for market-rate projects to ensure quicker development, though the Armory may allow for other uses due to its complexity. The city plans to stagger the release of these RFPs to avoid market saturation and to attract a diverse range of developers.
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