MIXED INCOME RESIDENTIAL/MIXED-USE
University Research Park, Inc. is offering to lease 2.3 to 2.9 acres of land for a mixed-income residential/mixed use development within a future-oriented jobs center in Madison, Wisconsin. The goal of this project is to enhance the University Research Park campus as live-work-play environment while capturing market-rate land values to support the University of Wisconsin-Madison. This Request for Proposals lays out the vision for the project and the developer selection process.
Q) What are the key criteria URP will use to judge teams/projects?
A) The selection committee will be balancing the financial return to UW-Madison with the potential for a good project.
Q) What is a good project?
A) A good project has good design, increases density, fills a URP/community need, and is financially feasible.
Q) So do we need to produce architectural drawings or sketches to compete?
A) No, it’s not necessary to submit drawings or sketches. We do not want to require respondents to spend money speculatively at the RFP stage—we’re developers too!
Q) Does ‘density’ mean 12 stories and high rise construction?
A) The City of Madison has a preference for achieving density at the site via building height. URP will support such density, but conceiving a viable project is most important to URP.
Q) So what about proposing deal economics?
A) We took a stab at a proposal that reflects our preferences. Your response may confirm terms or propose alternatives. If you are proposing alternatives, please be as clear as possible about your math and assumptions.
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