942 main street development

The Town of Manchester, Connecticut, is seeking proposals from experienced real estate developers for a transformative downtown redevelopment project located at 942 and 1050 Main Street in Hartford County. The opportunity involves two adjacent parcels totaling 2.38 acres within a federal Opportunity Zone, including a 1.59-acre lot with 116 existing parking spaces and a 0.79-acre vacant property recently cleared for development. The RFP, released on January 29, 2025, with a response deadline of April 24, 2025, at 2:00 pm, aims to select a qualified developer to create a mixed-use urban development that increases downtown density, improves aesthetics, and provides modern housing and employment opportunities. Proposals should ideally feature multi-story buildings with ground-floor retail and residential or office units, though single-use concepts will be considered. The Town will evaluate proposals based on development approach, project experience, financial capabilities, proposed structure, and management experience, with a focus on overall benefit to the community rather than solely on cost. Desirable project elements include a traditional mix of uses, transformative tenants, rideshare/transit amenities, and mixed-income housing with potential affordable units.

The procurement does not specify explicit set-aside designations for disadvantaged enterprises, but it does include a Living Wage Certification requirement that bidders must complete, with potential exemptions for nonprofits, smaller employers, and contracts under $25,000. The Town is open to either selling or leasing the property and may offer incentives such as tax assessment agreements or reduced purchase/lease prices. While no incumbent vendors are mentioned, the project is situated in a Central Business District zoned for mixed-use development with extremely permissive off-street parking and dimensional requirements. A detailed economic report by Goman+York Advisory Services provides insight into potential development costs, with one conceptual proposal estimating a total development cost of $45,909,682 for a 154,988 square foot mixed-use building featuring 99 residential units (including 20 affordable units) and 7,750 square feet of commercial space. The project is strategically located in Manchester, a community of nearly 60,000 residents, and is positioned to serve as a key gateway development that can potentially transform the downtown area.