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Edinburg Housing Authority Serving Families Since 1949

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Edinburg Housing Authority Serving Families Since 1949 Edinburg Housing Authority Serving Families since 1949 REQUEST FOR BIDS The Housing Authority of the City of Edinburg, TX will receive bids until 3:00PM on Wednesday 09/24/ 2018, at 910 South Sugar Road Edinburg, Texas 78539, for more or less 13 acres, improved with a public housing apartment complex called “Albores Courts”. The property has 98 apartments with approximately 73,644 SF, plus numerous amenity buildings such as an office, gym, learning center, etc. All buildings proposed for deconstruction. The subject property is a rectangular shaped inside tract located just south of University Drive along the east side of Expressway 281 (Interstate 69C). It has more or less 789 FF along the east side of the expressway frontage road and a depth of more or less 720 feet. The property is an excellent location for commercial development. For information, please contact Edinburg Housing Authority’s Executive Director, Rodolfo Ramirez at [email protected], or Director of Operations, Liz Hernandez at [email protected] or at the number (956) 383-3839. Email communication is preferred. The property is a public housing development owned by the Edinburg Housing Authority that is planned for disposition. The successful bidder shall be required to enter into a contract of sale within 30 days of official notification of being the successful bidder and shall have a 60-day due diligence period. The earnest money shall be nonrefundable after the end of the due diligence period. Final closing shall be negotiated by the Housing Authority and the successful bidder. Extensions shall be considered upon the bidder's payment of additional earnest money and the Housing Authority reserves the right to make payments for extensions nonrefundable. The Housing Authority will undertake “deconstruction” of the 98 apartments prior to conveying the property as defined by HUD. In contrast to demolition where buildings are knocked down and materials are landfield, deconstruction involves carefully taking apart portion of buildings or removing their contents with the primary goal of reuse. The buyer will be responsible for demolition of the remaining structures. The Housing Authority will assist the successful bidder in obtaining approvals from the city for zoning changes. Hand delivered or mailed bids shall include seven (7) copies and be placed in a sealed envelope marked BID FOR ALBORES COURT, addressed to: Executive Director Rodolfo Ramirez Edinburg Housing Authority 910 S. Sugar Rd. Edinburg, TX 78539 The Housing Authority reserves the right to reject any and all bids and has the right to request additional information. Late Bids will not be accepted. Albores Courts Request for Sealed Bid 1 | Page Ciro Treviño Administration Building • 910 S. Sugar Rd. Edinburg, Texas 78539 • P. O. Box 295 Edinburg, Texas 78540 Tel: (956) 383-3839 • Fax: (956) 383-6672 • www.edinburgha.org 1. Location Description The subject tract of land is the Albores Court Public Housing development fronting Expressway 281 (Interstate 69C). The subject tract of land is bordered by E. Cano St. to the North, E. Fray St. to the South, S. 29th Ave. to the East, and S. 25th Ave. to the West (Expressway 281). The market area is in the stable stage of its life cycle, since the market area consists of the Eastern Division of the city, which is fully developed with few city lots remaining. Recent development activity has included numerous hotels, restaurants, and other commercial developments which have been developed on sites where existing older improvements have been demolished to make way for these newer improvements. The highest and best use for the subject tract of land is also for a newer, commercial development, where existing improvements are meant to be demolished. In comparison to other areas in the region, the market area is rated as follows: MARKET AREA ATTRIBUTE RATINGS Highway Access Very Good Demand Generators Average Convenience to Support Services Average Convenience to Public Very Good Property Compatibility Good General Appearance of Properties Average Appeal to Market Good Prices / Value Trend Average 2. Neighborhood Description: Boundaries of the neighborhood: The neighborhood boundaries could be described as Expressway 281 to the West, South Raul Longoria Rd. to the North, East University Dr. to the to the East, and East Sprague St. to the South. The subject tract of land is located 4 blocks South of the University of Texas Rio Grande Valley. Commercial development in the neighborhood includes a variety of hotels, restaurants, sales and service centers, and other commercial properties along East University Drive (East service road to Expressway 281). There are a few commercial vacant lots remaining. There were minimal vacant buildings in the immediate area. The overall condition of the surrounding properties is considered average. Commercial development includes The Texas Inn and Suites City Center at University Dr., Fast Food Chains (Whataburger, McDonald’s, DQ, and Burger King), as well as a Walgreens and a 7-eleven. Typical price range of residential homes in the neighborhood is between $150,000 to $157,900. The neighborhood is about 95% built up. The improvements range in age from about 65 years to newer buildings. Edinburg is showing improvements over the past years. Demand for additional residential, commercial, Albores Courts Request for Sealed Bid 2 | Page and light industrial developments continues to improve. Occupancy rates in the area appear to be stable. Given the history of the area and current market trends, the property values will continue at a gradual pace in the near future. The subject neighborhood is well-located for commercial uses. There are no external factors which negatively influence the subject neighborhood. There are no known nuisances or hazards in the neighborhood. Neighborhood Life Cycle: The complementary land uses that comprise neighborhoods typically evolve through four stages. 1. Growth – a period during which the neighborhood gains public favor and acceptance 2. Stability – a period of equilibrium without market gains or losses 3. Decline – a period of diminishing demand 4. Revitalization – a period of renewal, modernization, and increasing demand. th (From The Appraisal of Real Estate 12 Edition, Appraisal Institute) 3. Property Information Property Name: Part of Albores Courts Public Housing Development Fronting Expressway 281 (Interstate 69C). Address: 220 South 25th Avenue, Edinburg, Texas, 78542 Tract Code: 0237.00 MSA-State-County-Tract: 32580-48-215-0237.00 Legal Description: EUREKA ACRES LOTS 11 TO 16 W 108.05' LOTS 25 36 E. 13 ACS PAYMENT IN LIEU OF TAXES. Tax ID: Tax exempt Property Type: Urban Residential Owner of Record: Housing Authority of the City of Edinburg Site Characteristics Estimated Land Size: 13.05 Acres or 568,514 sq. ft. Estimated Frontage: Approx. 789 FF along the East side of Expressway 281 frontage road and a depth of approximately 720.55 feet Shape: Rectangular. Albores Courts Request for Sealed Bid 3 | Page Corner influences: No Topography: Level Flood Zone: According to FIRM Map No. 48338 0020 E, revised June 6, 2000; the subject is located within a zone “X500” designated area, which does not typically require special flood insurance coverage. Zoning Designation: Urban Residential. Highest and Best Use As if Vacant – Commercial use Albores Courts Request for Sealed Bid 4 | Page 4. Location Map The property Albores Courts Request for Sealed Bid 5 | Page 5. City Location Map Albores Courts Request for Sealed Bid 6 | Page 6. Property Plat Albores Courts Request for Sealed Bid 7 | Page 7. Flood Map 8. Properties Phots Albores Courts Request for Sealed Bid 10 | Page View of Subject Property View of Office and Amenities Albores Courts Request for Sealed Bid 11 | Page View of Typical Apartments View of Apartments and Gym Albores Courts Request for Sealed Bid 12 | Page View of Project Entrance Street View, Subject on the Right Albores Courts Request for Sealed Bid 13 | Page Street View, Subject on the Left Albores Courts Request for Sealed Bid 14 | Page 9. Property Identification The subject tract of land is the Albores Courts Public Housing development fronting S. 25th Ave. (expressway 281). The subject tract of land is bordered by E. Fray St. to the West, S. 25th Ave. to the South, E. Cano St. to the East, and S. 29th Ave. to the north. The MSA-State-County-Tract is listed as 32580-48-215-0237.00 the property is legally described as: EUREKA ACRES LOTS 11 TO 16 W 108.05' LOTS 25 36 E. 13 ACS PAYMENT IN LIEU OF TAXES Location and Population: Edinburg lies at the epicenter of one of the most dynamic regions in North America, a region that is keeping pace with the speed of change. Edinburg is the educational and technological capital of a Texas- Mexico border region. With a population of more than 2 million, this region has the highest concentration of people between the ages of 18 and 24 in North America. The result is an excellent and trainable workforce and one of the largest concentrations of Maquiladora plants along the U.S. Mexico border. Edinburg is located in the Rio Grande Valley, a four-county area that has a larger population than South Dakota, Delaware, North Dakota, Vermont, Alaska, and Wyoming. With a land area of 11,122,712 square kilometers, the Rio Grande Valley is almost twice the size of Delaware and four times the size of Rhode Island. Edinburg is the county seat of Hidalgo, the seventh largest county in Texas and is home to the University of Texas Rio Grande Valley, the state’s tenth largest public university. Centrally located within one of the largest trade corridors in the world, Edinburg is also the gateway to U.S. 281, which is being transformed in to Interstate 69 or the NAFTA Highway. In 1999, more than 54% of all trade between Mexico and the United States made its way through South Texas ports of entry.
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