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Request for Competitive Sealed Proposals Buckner DART Station Area

Request for Competitive Sealed Proposals Buckner DART Station Area

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Published by Robert Wilonsky
Request for Competitive Sealed Proposals Buckner DART Station Area
Request for Competitive Sealed Proposals Buckner DART Station Area

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Published by: Robert Wilonsky on Sep 16, 2013
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09/23/2013

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City of DallasRequest for Competitive Sealed ProposalsMixed-Use Development for the Buckner DARTStation AreaBDZ1333
Development/Ground Lease Opportunity
1Rev. 1 - 03/25/10Doc#BDPS-FRM-135
 
Overview
 The City of Dallas Office of Economic Development (City), in partnership with DallasArea Rapid Transit (DART), is issuing this Request for Competitive Sealed Proposals(RFCSP) for qualified parties interested in developing a new mixed-use developmentin the heart of the Buckner DART Station area. The project is envisioned to includea mixed-use development with residential, retail, office and/or medical uses. TheProposer that presents the best overall vision for the development project, thestrongest business proposal, best complements the surrounding environment,provides maximum activation of the space, and provides the maximum financialbenefit per the below evaluation criteria to the City and DART will be selected forfurther negotiations. The successful Proposer will also be able to coordinate designand expenditure of grant funds related to pre-construction work on the project. The preferred site is a DART-owned one-acre lot at the southwest corner of BucknerBlvd. (Loop 12) and Elam Rd., just north of US-175 (C.F. Hawn Freeway) adjacent toapproximately eight acres developed as transit parking, bus and auto circulationand drop-off lanes. The development site is a vacant parcel that has been reservedfor future transit oriented development (TOD) and was designed for the use of existing available station parking (see attached
Exhibit A: Buckner Station AreaMap
). The City and DART are seeking a private or non-profit partner to develop thevacant parcel. Responses for TOD-style development may also be submitted forother sites located within a quarter mile of Buckner Station. The City received a U.S. Department of Housing & Urban Development (HUD)Community Challenge Planning Grant in 2010 to improve links between housing andemployment centers along the DART light rail network. The federal grant offersfunds for planning and pre-construction costs including, but not limited to,architectural and engineering services, surveying, permitting and zoning. Dallas TOD, the city-initiated land use process funded by the grant, includes a catalystdevelopment concept at each of the five study areas: Vickery Meadow, MLK Station,Hatcher Station, Buckner Station and the Lancaster Corridor. This RFCSP seekspartners for development consistent with the Buckner Station plan. While thepreferred response will be a mixed-use project on the DART-owned vacant property,responses that are located on other sites within a quarter mile radius of the BucknerStation will be considered, provided the Proposer either owns the site or has anoption to purchase or lease the site. The intent of the TOD project is to provide new housing, office, and retailopportunities for local residents, create a new center of the local community andgenerate additional investor interest in improving the neighborhood. The proposalsubmissions shall provide the following:1.
Project Concept Plan
– The Proposal shall include a preliminary site planillustrating its preferred development concept including proposed
2Rev. 1 - 03/25/10Doc#BDPS-FRM-135
 
development uses, parking and circulation, landscaping and other siteimprovements, and relationship to surrounding land uses. The Proposalshould also include project renderings with images of proposed buildingelevations and façades and a development program delineating the squarefootage of commercial uses and the number and size of housing units bytenure.2.
Financing Plan
– For the Park & Ride lot, DART anticipates the successfulProposer will enter into a long-term land lease for the development project. The lease value will be based on the current appraised value of the propertybased on an independent appraisal conducted by DART at the time of acontract. The actual lease rate is negotiable based on verification of projectfeasibility and the developer’s ability to receive a fair and equitable return fordeveloping and operating the project.For all sites, the proposal shall include a development pro forma for at least aten-year period, sources and uses of finances, and an ongoing investmentprogram for capital expenditures, if applicable.3.
Relevant Project Experience
 
 The City and DART are seeking a developerwith experience developing TOD or other mixed-use infill developmentprojects.4.
Developer Qualifications
 
 The City and DART will require the Proposer toprovide evidence of its capability to develop the proposed project including asummary of previous projects, references, history of litigation, and existingand prior contracts with the City of Dallas and DART, if applicable.5.
Financial Statements
 
 The Proposal shall provide evidence of theProposer’s financial capability to develop, finance and operate the proposedproject, including a description of the entity’s type of business, referencesfrom banks or lenders, history of litigation and audited financial statements.6.
Transit Operations Plan, If Applicable
– If the Proposal includes DART-owned property (including the development pad site and/or existing DARTPark & Ride lot), the Proposal shall include a plan to address the provision of safe and efficient transit operations during both project construction andupon project completion.7.
Parking Replacement, If Applicable
If the Proposal includes DARTowned property (including the development pad site and/or existing DARTPark & Ride lot), the Proposal shall include a plan to replace any Park & Ridespaces lost for development determined by DART to be needed for futuretransit service.
3Rev. 1 - 03/25/10Doc#BDPS-FRM-135

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