Development of 342 Main Street

The City of Nashua is soliciting proposals from real estate developers to purchase and develop 342 Main Street, a 0.229-acre vacant parcel in downtown Nashua, with proposals due July 13, 2026 at 3:00 p.m. and a mandatory pre-proposal meeting and site walk on June 18, 2026 at 3:30 p.m.

The property, Parcel ID 0009-00027, is zoned D3MU and located near Mine Falls Park, the Historic Millyard, and the Nashua River waterfront. The 9,968-square-foot lot consists of vacant land with asphalt parking. The 2020 assessed value was $204,600. No minimum bid price is set; the City completed a 2026 appraisal and will evaluate proposals on criteria beyond financial offer.

Evaluation prioritizes alignment with development objectives—mixed-use development, maximized density and tax revenue, preservation of Main Street character, and economic stimulus—along with proposer experience of five or more years in similar development, documented financial capacity with lending commitments, development schedule completion within two to three years, and projected tax revenue generation. The City will conduct interviews with qualified proposers before designating the Developer of Record.

The selected developer must execute a Purchase and Sale Agreement within ninety days of acceptance and provide a ten percent deposit at that time. Closing shall occur within thirty days of permit receipt, contingent on the developer obtaining City-approved financing. The developer must carry general liability insurance of $1 million per occurrence / $2 million aggregate, combined single limit automobile liability of $1 million, and workers' compensation per New Hampshire statutes.

Questions are due June 26 at 10:00 a.m., with responses posted July 1 at 4:00 p.m. Proposals may be submitted electronically via Bonfire or in paper format (one hardcopy and one USB drive copy). Proposals are binding for ninety days following the deadline or until contract execution, whichever is later. All submissions become City property and are public records under New Hampshire Right-to-Know Law.