Development of 342 Main Street

Location:	New Hampshire
Posted:	Jun 11, 2026
Due:	Jul 13, 2026
Agency:	City of Nashua
Type of Government:	State & Local
Category:	A - Research and development
Solicitation No:	RFP0742-071326
Publication URL:	To access bid details, please log in.

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Request for Proposals

For Development of 342 Main Street, Nashua NH 03060

RFP0742-071326

June 2026

Overview

The City of Nashua (the “City”) is seeking Request for Proposals (“RFP”) from Real Estate Developers to

purchase and develop 342 Main Street Nashua, NH 03060, Parcel ID 0009-00027, (“the property”). The

property consists of 0.229 Acres of vacant land with asphalt parking lot.

Currently, the property is zoned D3MU. The City considers this property to be in a premium location that

offers unique residential, mixed-use or commercial development opportunities because of its proximity to

Downtown Nashua.

Local Context and Market:

The property, located on Downtown Nashua’s Main Street, a thriving restaurant scene, large recreational

amenities such as Mine Falls Park, the Historic Millyard and relatively new completed Broad Street

Parkway. The site is close to a new market-rate multi-family housing development on High Street, known

as High Street Flats, and a new Affordable housing project at 249 Main Street with 55 units. Property

value in the greater metro area has increased by almost 5% over the last three years.

In addition, the City has recently developed the Nashua River waterfront and the Performing Arts Center

all within a mile of said property. The City of Nashua also boasts five Business Districts comprising of

professional services, retail and high tech manufacturing industries. These employers attract a vast

majority of talents that live or work in the City. Nashua also has a public transit system that is easily

accessible across the City. In 2024, the City earned WalletHUB’s designation of Best Place to Live

because of employment, dining, entertainment and educational opportunity.

The selected Developer will demonstrate its experience in maintaining the historical nature of similar

properties they have previously acquired and developed. The Developer should have familiarity with laws

and practices applicable to municipal real estate matters including relevant local land use and zoning.

The City is willing to work with a prospective Developer of the property to develop a mutually suitable

vision and proposal. The City, however, will closely look at submitted proposals and prioritize them

according to their potential to maintain the nature of Main Street, market demand and highest economic

benefit to the City.

Description of Property

Please see attached Assessing Property Record Card (Attachment A)

Neighborhood Characteristics

The neighborhood of the property is located in the southern area of the downtown district in the City

along Main Street, bounded by the Enterprise Rent-a-Car business to the north. The neighborhood is

defined by multi-family and mixed-use development and zoning is classified as a “D3MU”, which allows

for flexible development and use programming. More importantly, the property is situated walking

distance from the downtown and the grocery store making it an attractive infill development site. The

property’s neighborhood life cycle is in a stable stage.

Ownership

The property is currently owned in fee by the City. The property will be transferred by the City via a quit

claim deed to the prospective Developer.

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Land Tour and Briefing

It is strongly suggested that interested proposers have a representative present at a briefing session/site

visit on the date and time cited herein. Failure to attend the briefing will not be an excuse for not

submitting all of the required information.

Zoning and Permitting

The property is located in the D3MU, which allows for flexible development conditions. Further

information about applicable zoning requirements can be found at https://www.nashuanh.gov/296/Land-

Use-Code. Prospective Developers are responsible for examining all aspects of the property themselves,

including applicable federal, state, and local zoning regulations. Prospective Developers are responsible

for determining zoning permitted uses and restrictions affecting the property.

Available Utilities, Environmental and Subsurface Conditions

Prospective Developers are responsible for determining the adequacy and availability of utilities which

exist within or serve the property, subsurface conditions that exist on the property (including active and

inactive utilities whether documented or not), and environmental conditions or hazardous materials.

Title Information, Easements, Encumbrances, and Restrictions

The City of Nashua is the owner of the property, which it acquired through a tax collector’s deed at Book

9051, Page 659 of the Hillsborough Country Registry of Deeds. Prospective Developers are responsible

for examining the title to the property at their own expense and prior to submitting a response.

Prospective Developers are responsible for determining the existence of any encumbrances affecting the

property.

Condition of the Property

The property is being sold in “as is where is” condition. It is the Selected Developer’s responsibility to

identify, assess, and remediate any contamination as necessary for its proposed development project and

otherwise as required by applicable laws, ordinances, codes, orders, rules and regulations, and the

Selected Developer’s will be required to indemnify and hold the City harmless, from and against any and

all environmental liabilities arising from its failure to perform such remediation and other environmental

matters.

Prospective Developers may do limited inspection and investigation of the property, to the extent it does

not cause material damage to the land/property. Any such inspection of the property shall be subject to

one (1) or more access agreements to be negotiated by the City and the potential Developer, which shall

contain provisions, among others, specifying the scope of permitted investigations, establishing

procedures for notice prior to entry upon the property, and providing for insurance and indemnification

requirements while also returning the structure back to its current state. Invasive testing of the property

shall be subject to City prior written consent, in its sole and absolute discretion.

If not conducted prior to the submittal of a proposal, the Prospective Developer, at the Developer’s

expense, may complete an investigation of the property, including environmental investigation. Any site

investigation, including without limitation, environmental investigation, if conducted, must be completed

within the Due Diligence Period. The Selected Respondent shall waive its rights to conduct or complete

such investigation if it is not completed within the Due Diligence Period. If requested to do so in writing,

the Selected Respondent shall submit all investigatory test results and reports obtained to the City and/or

its consultants.

Representations

The City makes all of the above information available to prospective developers solely to facilitate

interested Developer’s independent investigations, examinations, due diligence reviews and analyses of

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the property. The City makes no representation or warranty as to the accuracy, completeness, currency,

and/or correctness of any of the information contained in or furnished pursuant to this RFP.

Minimum Bid Price

There is no minimum bid price, but the City has had an appraisal completed on the property in 2026. The

City will consider other factors that provide value to the City, such as a development that clearly

demonstrates the ability to create a uniform approach across adjacent parcels in a manner that facilitates

an optimum value to the City. In that value determination, the City may also consider committed due

diligence funds for offsite issues.

A letter contained in the sealed envelope, outlining and committing to these facts, is required for alternate

consideration of value.

General Conditions

A. The City reserves the right to reject any and all proposals when, in its sole opinion, it is in the best

interest of the City to do so. The City also reserves the right to waive minor discrepancies, to permit a

Proposer to clarify such discrepancies, and to conduct interviews with all qualified Proposers in any

manner necessary to serve the best interests of the City. The City further reserves the right to

designate a Developer of Record based on written proposals received, without interviews, and to

reject any and all proposals if deemed in the City’s best interest to do so.

B. The City assumes no liability for the payment of costs and expenses incurred by any party in responding

to this invitation for proposal. All proposals become the sole property of the City of Nashua. This

invitation for proposal is not a contract and alone shall not be interpreted as such but rather serves as

an instrument through which qualifications are solicited.

C. The City makes no representations or warranties, expressed or implied, as to the accuracy and/or

completeness of the information provided in this RFP.

D. Each Proposer shall be responsible for investigating the condition of the property and the City’s title.

The Mayor, Board of Aldermen, and the City’s employees, agents, representatives and contractors

make no warranty or representation whatsoever as to the condition of the property or its suitability for

any particular purpose, or the title thereto.

E. The Proposer should understand that under the New Hampshire Right-to-Know Law (RSA 91-A), all

documents submitted in response to this request, including financial information, are considered public

information and will be made available to the public upon request, unless specifically exempted under

the law.

Communications

All inquiries about this RFP, including requests for clarification or any additional information, must be

submitted in writing to the email address and contact as cited below.

No requests or questions will be accepted after the deadline as cited below. The Proposer must provide

the name, address, telephone number, and email address of the person to whom such additional

information should be sent.

Responses to questions shall be issued in writing as an Addendum(s) to this RFP. No oral

communications may be relied upon.

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Access to City Records

Proposers seeking a copy of the Nashua Zoning Ordinance may obtain it at the City of Nashua’s official

municipal website at this link: https://www.nashuanh.gov/296/Land-Use-Code

Requests for specific information about the property should be directed in writing to the below email

address for questions not to individual City departments. The City does not attest or certify to the

accuracy of available data.

Project and Development Objectives

The property has been vacant for many years and is very visible as one enters the downtown. The City

views this parcel as a key welcoming opportunity to the downtown’s economy critical for the region and

municipality’s success. Specifically, the City views the property as a location for uses that support mixed-

use development and economic ripple effects toward expanding the economic vibrancy of the downtown.

Economic ripple effect should deliver new expenditures into the region from visitors outside the region.

As economic ripple impact is crucial, so is the ability to generate tax revenue from the highest and best

use of the site. Proposals which expand taxation opportunities are considered more favorable. Proposals

that incorporate the historic nature of the structure into their proposals will be looked upon more

favorably. Partnerships with the City, in this regard, are considered as supportive of this objective.

The proposals must be supported by a company that has proven experience to proceed to completion of a

viable project. Projects which create high‐traffic trip‐generating retail, at peak periods, and does not

generate new visitors nor investment in the community, are not considered as positive for this site.

While the revenue associated with a sale of the Land is important, more important is the long term

viability of the site to support the local economy; therefore, the City favors proposals that meet the above

guidance and long‐term economic benefits versus the high‐bidder proposal.

Acceptable Project Types

The City has a strong preference for development proposals that exceed the requirements below:

A) Development of the parcel, and, if possible, adjacent parcels, to form an economic gateway to the

City in a form and manner that meets zoning and the below objectives.

B) A Project that maximizes density and tax revenue.

C) Mixed-Use structures.

Development Objectives

The prevailing proposal must take into consideration the City’s development objectives, which

include:

1. Maximize Development Potential

The Prospective Developer shall make all efforts to expand development beyond the subject

parcel by including neighboring properties to expand the favorable economic impacts of the

proposal to the greatest extent possible. Proposals which incorporate abutting parcels and have

agreements with those land owners for a complete development of the area, are more favorable.

2. Coordination with Public Properties

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This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.

Bid Number:	RFP0742-071326
Bid Title:	Development of 342 Main Street
Category:	City
Status:	Open

Development of 342 Main Street

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See also