RFP #25-027 205/207 Pine Avenue

The Downtown Development Authority of Albany, Georgia (DDA) and the City of Albany are seeking proposals through RFP #25-027 for the purchase and redevelopment of the vacant Hotel Gordon building located at 205/207 Pine Avenue. The primary objective is to convert the historic six-story, 57,200 square-foot building into a boutique hotel that will enhance downtown Albany's hospitality landscape and commercial activity. Proposers must demonstrate expertise in historic property redevelopment, with evaluation criteria focusing on firm qualifications, project approach, experience with similar projects, budget and funding sources, professional references, and alignment with city objectives. A mandatory pre-proposal conference and site visit is scheduled for December 4, 2024, with proposals due by January 3, 2025, at 5:00 p.m. EDT. The city anticipates contract award on January 29, 2025, and will be looking for a development plan that creates an upscale hotel targeting both leisure and business travelers.

The procurement appears open to private development firms with hospitality and historic renovation experience, with no specific set-aside designations mentioned. The city is prepared to offer multiple incentives to facilitate the project, including potential land write-downs, tax increment financing, and low-interest bridge loans. A comprehensive Hotel Market Analysis conducted in May 2023 suggests the project's feasibility, projecting development costs between $8.45-9.75 million (approximately $130,000 to $150,000 per room) for an 80-room property. The market analysis indicates strong potential with projected occupancy rates of 65-70% and average daily rates of $153 in stabilized operation. Proposers must comply with the Georgia Security and Immigration Compliance Act and will be required to integrate the development within the downtown master plan's vision for increased tourism and economic development.