Redevelopment of City Owned Property at 264 Keystone Avenue (APN 011-350-30)
Closed State & local contract opportunity Posted
- Solicitation number
- 144361
- State
- Nevada
- Responses due
Opportunity facts
- Jurisdiction
- Point of contact
-
- Bryan McArdle mcardleb@reno.gov (775) 447-3206
Opportunity details come from vendors.planetbids.com. Updated .
About this opportunity
The City of Reno is requesting proposals from qualified developers, investors, and development teams for the purchase and redevelopment of city-owned property at 264 Keystone Avenue (APN 011-350-30), with proposals due September 4, 2026 at 5:00 p.m. PST and an optional property tour scheduled for August 5, 2026 from 9:30 a.m. to 11:00 a.m. The property is a 1.205-acre site zoned MD-NWQ (Mixed-Use Downtown - Northwest Quadrant) and located within Redevelopment Area 1. The City will select the proposal offering the greatest overall public benefit and does not commit to accepting the highest purchase price.
The property comprises a 26,640-square-foot industrial flex building constructed in 1973, with an 820-square-foot finished basement, previously used by the Reno Police Department as an evidence storage facility until evidence operations relocated to the Public Safety Center in 2025. The Phase I Environmental Site Assessment identified recognized environmental conditions associated with asbestos-containing materials and lead-based paint requiring compliance with federal and state abatement and renovation protocols if disturbance occurs. The property is encumbered by existing easements including a ReTRAC retaining wall (31 to 33 feet high) along the eastern portion, a Vine Siphon storm drain at depths of 16 to 37.5 feet, and fire connection infrastructure; final easement terms will be coordinated prior to conveyance.
Proposals must address project concepts including residential, commercial, retail, cultural, civic, recreational, or mixed-use components; team experience; conceptual design and site plans; financial structure and feasibility; proposed purchase price; and implementation timelines with benchmarks. Proposers must demonstrate financial capacity through letters of financial capability, proof of funds, bank statements, or detailed financing narratives. The property is valued at $2.67 million based on the average of two independent MAI appraisals ($2.34 million and $3.0 million). Questions are due August 14, 2026, with responses issued August 21, 2026. The Selection Committee recommendation proceeds to Reno City Council for approval before negotiating a Purchase and Sale Agreement.
Opportunity text
The City of Reno ("City") is requesting proposals from qualified developers, investors, and development teams for the purchase and redevelopment of the City-owned property located at 264 Keystone Avenue, Reno, Nevada 89503 ("Property"), APN 011-350-30. The Property was previously utilized by the Reno Police Department as an evidence storage facility. Following completion of the Public Safety Center, evidence operations were relocated in 2025 and the building has remained vacant. The City has determined there is no future municipal use for the Property. The City's objective is to transfer ownership of the Property to a qualified developer that can return the site to productive use through private investment that strengthens the surrounding area, generates economic activity, and enhances the community. This Request for Proposals provides interested parties with the opportunity to submit redevelopment concepts that are financially feasible, compatible with the surrounding area, and consistent with the City's vision for reinvestment in key gateway and downtown corridor. The City anticipates entering into negotiations with the selected proposer for the sale of the Property subject to approval by the Reno City Council. The City reserves the right to reject any or all proposals, negotiate with one or more proposers, waive informalities, modify this solicitation, or terminate the solicitation process at any time. Respondents are responsible for reviewing and becoming familiar with the contents of all portions of this RFP, including all attachments, all background materials referenced, and all addenda to this Request. Your submission to this RFP acknowledges your understanding and acceptance of the terms and conditions set forth in this RFP.
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