1515 Madison Avenue Property Sale and Redevelopment
City of Covington > Community Development Department > Finance Department, Procurement Office
Original Solicitation Links
RFP261003
]surplus real property sale; 1515 madison ave
Contact
Submission Instructions
Description
The City of Covington is offering its city-owned vacant commercial parcel at 1515 Madison Avenue for acquisition and redevelopment. Proposed uses may include office, retail, multifamily housing, or other compatible commercial or residential development that enhances the surrounding neighborhood and community. The property is offered as-is, and the successful respondent will be responsible for due diligence, title verification, closing-related deed recording, and redevelopment. Proposals must include the proposed purchase price, development concept and intended use, project schedule, team qualifications and similar-project experience, financial statements, a preliminary capital pro forma, proof of financing or sources of funds, public benefits, estimated rehabilitation costs, projected taxable value, and required affidavits. The City will evaluate professional experience, financial capacity, project feasibility, purchase price, verified financing, completion timeline, and proposal completeness. Attendance at the mandatory property/site tour is required, and full outsourcing or subcontracting is not permitted without the City's written approval.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- Commercial General Liability — $1,000,000.00
- Professional Liability — $2,000,000.00
- Workers Compensation
- Minimum 3 references
- Client point of contact required for each reference
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