The City of Riverside is seeking a developer to deliver a mixed-use development without any city subsidies, on 7.6 acres of city-owned land, which will bring more hotel rooms, market rate housing, retail/restaurant space, and structured parking to the area.
Under the plans the developer is to expand the existing Riverside Convention Center under a P3 model by 100,000sq ft. The developer will also construct one or two four-star hotels with a preference of 200 rooms, over the convention center expansion area.
Also under the request for proposals the developer will construct a new parking garage to replace existing surface parking stalls (for public use at prevailing rates) and provide sufficient parking for the development.
It is also encouraged to include civic uses as potential tenants and cultural attractions.
A portion of the site is currently occupied by Encore High School until May 2020. The city expects the selected proposer to demolish the structure upon Encore’s vacation.
Proposals are due by December 18, 2018, with questions by November 19.
The RFP document is available here.