Master Developer For Approximately 240 Acres At Waco Regional Airport

The City of Waco, Texas is requesting proposals for a master developer to plan, finance, develop, lease, operate, and manage approximately 240 acres of undeveloped land at Waco Regional Airport under RFP 2026-035, with proposals due September 15, 2026 at 2:00 p.m. Central Time.

The scope encompasses airport-compatible development over a maximum fifteen-year development period across multiple phases. Acceptable uses include aircraft maintenance, aerospace and advanced manufacturing, air cargo and logistics, flight training and aviation education, and office, hospitality, and retail uses directly supporting the development. Residential uses and uses creating incompatible concentrations of people are not acceptable unless expressly approved by the City and all applicable authorities.

The City contemplates a master development agreement supported by one or more phased ground leases, with an initial ground lease term of up to forty years plus up to two additional five-year renewal options, subject to negotiation and City Council approval. Control of the Project Site will be released incrementally, with each phase conditioned on satisfaction of approved milestones, proof of financing, City and FAA approvals, and compliance with prior-phase obligations. The City makes no commitment to fund infrastructure unless expressly included in an approved agreement.

Proposers must demonstrate financial capacity through audited financial statements for the most recent three fiscal years and provide a financial offer identifying ground rent by phase, escalation, minimum annual payments, and any percentage rent or revenue participation. Proposals must remain valid for 180 days following the submission deadline. The City reserves the right to reject any or all proposals, divide the Project Site, select more than one developer, or pursue any lawful alternative determined to be in its best interest. Proposal preparation costs will not be reimbursed.

A non-mandatory pre-proposal conference and controlled site tour is scheduled for August 19, 2026 at 10:00 a.m. at Waco Regional Airport, requiring advance registration and government-issued identification. Questions are due September 4, 2026. A final addendum target date is September 7, 2026. Evaluation is anticipated September through October 2026, with interviews or presentations potentially conducted in October 2026. Anticipated selection and City Council authorization is expected October through November 2026.