Moore Square RFI(3)

Moore
Square RFI3
raleighnc.gov

Purpose and Background
Two properties will be made available for redevelopment on
Moore Square, the signature public park in downtown Raleigh.
To prepare for the opportunity, the City of Raleigh is releasing
this Request for Interest/Information/Input (RFI3).
The purpose of the RFI3 is to gather ideas and feedback.
This input will help shape a fair and effective process for
selecting development partners. These partners should be
able to deliver financially sound projects that add vibrancy
and affordability to the east side of downtown.
averaging
3.78 acres zoned for
over 2,000
across two up to 20
daily park
blocks stories
visitors

Parties responding to this
RFI3 should keep the following
objectives in mind:
o Letting the City know your level of
interest in the sites and what uses
you believe are the most viable.
o Sharing information with the City
that you believe would be useful in
developing the eventual Request for
Proposal (RFP) document(s).
o Providing input on the City's
preliminary RFP parameters,
which are described later in this
document.
The properties were previously included
in a 2022 request for proposals, but that
process did not result in a viable project.
The City plans to apply what it learned
from that experience to the upcoming
effort. To support this, the City is seeking
early feedback from interested parties,
which will help improve the chances of
successfully selecting a redevelopment
partner.

Description of
the Properties
The City owns or controls approximately
2.85 acres of land on the block directly
east of Moore Square ("the East Site").
W Hargett St
Three zoning districts cover the property.
E Hargett St
E Hargett St
Lots fronting on Moore Square are zoned East
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historic district is zoned DX-12-SH for 12D X-20-SH DX-7-UG DX-3-DE PD NX-3-UL-CU
stories of development, while the portion IX-3-UL-CU
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station and Blake Street parcels) is zoned
DX-3-SH.

Demand Drivers Nearby developments include:
* Hargett Place townhomes
The sites sit along Moore Square, one of
Raleigh's original five public squares laid
* Lincoln Apartments
out in 1792 when the city became North
* Acorn Apartments
Carolina's capital. Moore Square recently
underwent a $12.5 million renovation that
* Skyhouse Apartments
opened in August 2019.
* Fayetteville Street, the historic
Marbles Children's Museum is a vital anchor
commercial spine of downtown Raleigh
on the square and receives over half a
and home to its tallest office buildings, is
million visitors each year. The museum
three blocks away. It hosts festivals and
brings families with children ranging from
events throughout the year.
toddlers to 10 years old to the Moore
Square area.
Opening in 1914, the historic City Market
was Raleigh's first municipal farmers' The park now features:
market. Its historic buildings frame the
Spanish Mission-style market building o Play areas, a splash pad
and cobblestone streets. Together with
its eclectic mix of tenants, they create o A food and beverage pavilion
a unique open air dining and retail
o Plenty of seating
destination.
GoRaleigh Station is the transit system's o Large open lawns used for
primary transit hub. Renovations costing
events like outdoor movies,
$9.5 million were completed in 2017. About
concerts, and yoga
15,000 riders use the station each day.
W Morgan St
State Capitol
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Museum Place Cemetery
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Performing Arts

Desired Development occupying the Bloodworth Street frontage.
The City has commissioned architectural
Outcomes and
test fits which indicate that about 120
Affordability Approaches
or more units could fit on the footprint
shown in Figure 1 if a single level of podium
For the market-rate components, the City
parking is utilized with 4 stories of Type 3
is seeking development that brings activity
or 5 construction above. This would occupy
and energy to Moore Square, City Market,
about 1.4 acres of the City property on this
and the east side of downtown, including
block, leaving 1.45 acres for market-rate
the surrounding sidewalks. Multifamily
development.
housing or hospitality uses are expected to
be the primary components of any project Recently, the City has been researching
on these sites. Ground-floor retail would new models for financing and building
support an active street environment. mixed-income housing which have the
Retail should provide amenities for potential to produce a more coordinated
residents and guests. Current zoning development approach, allow sharing
requires retail along the N. Person Street of amenities between market-rate and
frontage. Outdoor food and beverage affordable units, and avoid limitations
seating-at street level or above-would imposed on the development by
further enliven the area. certain financial assistance programs,
such as the federal tax credit program.
The City believes that the quickest and
most proven method for producing The City is open to receiving ideas and
affordable housing is to reserve a portion feedback about both of these potential
of the land on the Moore Square East block approaches to the East Site.
for an affordable housing development
Development that will add activity and vitality
to Moore Square park, including:
o Multi-family housing
o Hospitality developments
o Ground-floor retail
o Food & beverage seating

Anticipated Disposition Process
The City plans to make the properties available through up to three Request for
Proposals processes. This approach allows for a shared vision with a development
partner. It also comes with some challenges and unintended incentives. The City outlines
these issues and proposed solutions below. To refine the parameters listed below, the
City is seeking feedback on the following:
o Overpromising through a competitive bid process,
When selection is based heavily on the market value is naturally discovered.
ambition or visual appeal of a proposal, In an RFP process, it is typically based
developers may be encouraged to on appraisals. The City will commission
overpromise. If those plans prove two independent appraisals or other
unrealistic, it can undermine trust in the acceptable means of establishing value
process and cause the project to fall immediately prior to issuing an RFP
apart. and will use these to set a floor on the
price of the land. Developers who are
To address this, the City proposes
not prepared to meet this price floor
three steps:
should not submit to any future RFP
associated with these sites.
1. The selection process will place
strong emphasis on qualifications
o Performance
and a proven track record in different
A primary motivation for utilizing an
market conditions (an RFQ may
RFP rather than a simple competitive
precede the RFP to create a short
bid process is to ensure that the
list).
property goes to an entity that intends
to move forward with development,
2. To better understand realistic site
rather than land banking. The RFP
potential, the City has commissioned
will set forth reasonable and clear
a market and design study from
expectations as to the timeline for
RCLCO and LS3P. This will be shared
development plan submittals, approvals,
during the RFP process.
closing on the property, and start
3. Proposals must include of construction; and, for affordable
documentation showing financial projects with City financing, required
viability. This can include pro formas terms associated with such financing.
and letters of intent from investors Proposers should only propose uses
and lenders. they believe will be viable over this
timeline and avoid any uses that rely on
o Price discovery
assumptions of greatly improved future
The City is legally required to recover
market conditions.
market value when selling or leasing
property for market-rate development.
When sold to the highest bidder

The City also seeks input from interested parties on three other questions that
need answering before issuing an RFP:
o Separate or unified RFPs for the East and South sites?
The City is unsure whether the three assemblages (East Site proposed market-rate,
East Site proposed affordable, and South Site) would be more appealing if offered
together or separately. A single RFP could allow proposals for either one or multiple
sites, but it makes comparisons harder and may create an uneven process. Separate
RFPs could miss opportunities for coordination between the sites, such as shared
parking. The City would like to know whether potential proposers prefer to consider
the sites individually or as a package.
o Land assembly
Proposals will be limited to the property the City owns (or has under site control) and
any land over which the proposer can demonstrate site control at time of proposal.
After the award, the City understands that the selected developer may want to
expand the site by negotiating with the three private owners on the eastern block.
The City is open to this, as long as the original development plan for the RFP property
is not significantly reduced and the timeline is not delayed. The City would like
feedback on whether this approach works and how much time developers would need
for those negotiations.
o Parking
It is the City's understanding that the South site is too narrow to accommodate a
conventional ramp garage. An alternative to on-site parking is to rely on nearby public
parking facilities. Is a commitment from the City to dedicate a certain number of
off-site parking spaces in a nearby City-owned deck necessary for a viable project,
or could it be up to patrons to find parking on their own? If so, which City-owned
parking facilities would the proposal require access to and what parameters would be
necessary for the allotted spaces?

Submittal Submittal
Requirements Instructions
At this early stage, the City aims All responses should be submitted via
to keep submittals simple. There email to the City's Urban Projects Group
are no minimum requirements. at Urban.Projects@raleighnc.gov.
Respondents may provide as little or
Responses must be submitted by
as much information as they want to
Friday, May 15, 2026 at 5:00pm EST.
show interest and offer useful input.
Responses may range from a brief letter
of interest to more detailed materials
such as a concept plan, preliminary pro
forma, and/or narrative description.
Responses may address solely market-
rate development, solely affordable
development, or suggest a mixed-
income approach.
Thank you for your
time and interest.
Legal Disclaimer
This RFI3 is issued solely for information-gathering and market-sounding purposes. It is informal and non-binding. The
City of Raleigh does not intend to, and shall not be deemed to, enter into any contractual, procurement, or other legal
obligation of any kind by virtue of issuing this RFI3 or receiving any response. Responses to this RFI3 are subject to North
Carolina public records laws and any material submitted where confidentiality is being sought under N.C.G.S. 132-1.2
must be marked in the manner required by law to receive such protection. The City will release any materials associated
with this RFI3 to the extent required by law, as determined by the City in its sole judgment.
raleighnc.gov