Request for Proposals for the Development of Property Within the VABeachBio Innovation Park
Virginia Beach, Virginia
NOTE: If you plan to submit your proposal on Saturday, October 21st, or Sunday, October 22nd, please deliver it to the security guard in the lobby of the Armada Hoffler Tower (222 Central Park Avenue, Virginia Beach, VA 23462) between the hours of 9:00 a.m. and 5:00 p.m. Email or call David Couch (email@example.com; 757-385-6468) or Steve Harrison (firstname.lastname@example.org; 757-385-6466) with questions.
The City of Virginia Beach Development Authority ("VBDA") requests proposals and certain information from interested parties for the development of at least a 60,000 sq. ft. class "A" building for the purposes of housing Bio related companies. The Property is owned by the VBDA and is located at the southern intersection of Princess Anne Rd. and Winterberry Rd. extended in the Princess Anne area of Virginia Beach, Virginia. The VBDA may have an interest in leasing approximatley15,000 - 20,000 sq. ft. within this building to be used as a Bio Accelerator.
The property (VaBeachBio Innovation Park-"Bio Park") consists of approximately 155 acres, with the anticipated first phase of development being within the northern 35 acres of the park. The Bio Park is within the Interfacility Traffic Area (ITA).
The anticipated first building within the Bio Park will need to conform to the Princess Anne Commons Development Guidelines as outlined in the rezoning proffers. This building will also need to consider its place within the larger context of the park and consider walking paths, common areas, and integration and collaboration within the other design elements of the park.
All relevant documents can be found below.
To maximize the long-term development potential of the property in keeping with the spirit and intent of the City's ITA Plan, the Bio Park Design proffers, and the Virginia Beach Bio Industry initiative plans; achieve the construction of Class "A" building space (to include office, lab, and/or medical manufacturing); and provide for connectivity to the other design elements within the Park, and surrounding amenities, and future transit stops.
The VBDA will consider the sale or lease of property necessary for development of the desired building.
Submittal of Responses:
Statements of Interest shall be submitted and time-stamped in the office described below no later than October 22, 2017. All responses should be addressed in writing to:
Warren D. Harris, Director
Virginia Beach Economic Development
4525 Main Street, Suite 700
Virginia Beach, VA 23462
Technical questions or requests regarding the project should be directed to Economic Development staff members David Couch or Steve Harrison at (757) 385-6464.
Contents of Response:
Respondents are requested to provide the following information:
- Terms of offer to purchase and/or lease
- Proposed use/concept
- Estimated time frame for closing
- Estimated development time frame
- Estimated cost of improvements
- Proposed financing mechanisms
- Purchasing entity and names of principals
- 4 copies of the proposal
City staff (Economic Development) will solicit and review interests and preliminary submissions for the purchase and private development of the property. A respondent or short list of respondents may have the opportunity to modify submissions and/or may be asked to provide additional details following review by staff. Selection will be based upon compliance with the stated objectives. Staff may solicit other submissions if deemed necessary.
If a submission is selected, terms of the sale and/or lease of the property, as well as structure of the overall development plan, will be negotiated and finalized with the respondent. At a minimum the respondent will be expected to obtain an approved site plan for the property and deliver a shell building as close as possible to December 2018. Respondents will also need to provide the City with a financing plan for the proposed development, acceptable to the City/VBDA, as part of their submission.
Disposition of the property is subject to review and approval by the VBDA. The real estate closing, if any, shall take place as soon as possible following VBDA approval.