Hunden Strategic Partners (HSP), on behalf of the City of Sioux City (City), is issuing a Solicitation of Interest (SOI) from developers and/or development teams regarding the ultimate redevelopment of the Badgerow Building (Project) at 622 4th Street in Sioux City, Iowa.
HSP and the City invite firms experienced in developing mixed-use projects to submit their interest in response to this SOI. The Badgerow Building is a 12-story historic building that is listed on the National Register of Historic Places. The building sits on a 0.22-acre site in downtown Sioux City, just north of the Missouri River and I-29. The building, built in 1933, boasts unique architectural features from the time and operated initially as an office building. It is located on the edge of Sioux City’s Historic 4th Street Entertainment District.
The City is seeking to have the building redeveloped to accommodate a mix of uses, including, but not limited to, retail, restaurant, office, and market-rate residential. Sioux City is open to helping induce a compelling redevelopment via the use of incentives if proven needed.
This SOI is the first step in a process that will culminate in a negotiated agreement between the City and a qualified Developer. A pre-submittal Q&A conference call and pre-recorded tour of the building is part of the process so that interested parties do not need to travel to Sioux City in order to view the building or ask questions.
Development Teams are to have experience and expertise in urban mixed-use project financing, development, design, construction, and operation, including office, residential, retail, restaurant and/or parking. Experience with historic buildings and historic tax credits is preferred, but not required. Development Teams are to be composed of, at minimum, a Development company. Additional team members may be included at this SOI stage, but are not required.
The City anticipates entering into an agreement (Agreement) with a firm to serve as the developer of the proposed Project. The Client intends for the Developer to purchase the building as part of the Agreement, as well as for the Developer to finance and redevelop the Project, to manage the process, and to provide for the operation and management of the Project.
Firms are invited to submit their interest in developing mixed-use projects of this type. Submittals are due electronically no later than 4 p.m. CT on Wednesday, May 13, 2020.
For more information on the SOI, to download the SOI materials, and to register as a document holder to be included in future communications, please visit www.hundenpartners.com. Navigate to the “Downloads” tab on the website to download SOI materials.
Proposers are to contact Rob Hunden, president of Hunden Strategic Partners, via email at firstname.lastname@example.org with questions concerning this SOI. All questions will be responded to via an addendum that will be provided to all respondents registered prior to the due date.
About Hunden Strategic Partners
Hunden Strategic Partners, headquartered in Chicago, completes feasibility studies and developer strategy processes for destination and mixed-use projects ranging from $5 million to $1.5 billion. HSP has worked on sports and mixed-use projects on three continents. For the last 25 years, Rob Hunden has been a sought-after expert on destination real estate advisory, especially when it comes to comprehensive mixed-use and public-private developments. For a complete download of this and other presentations given by the firm, please visit https://hundenpartners.com/.