Beaverdam Sites Solicitation and Commercial Real Estate Brokerage Services (BURA)

Description

The Beaverdam Sites are 5.5 acres of transit-oriented redevelopment land in downtown Beaverton, owned by the Beaverton Urban Redevelopment Agency (“BURA”), the tax increment financing agency for the City of Beaverton, Oregon. This crown-jewel redevelopment property is envisioned as a high-density, mixed-use project that will serve as a key catalyst for our well-underway downtown revitalization efforts. The site benefits from proximity to light rail (Tri-Met MAX) and bus transit, established retail, a hotel, a parking garage, and The Patricia Reser Center for the Arts – a 550-seat performing arts center nearby – as well as a short distance to Beaverton’s acclaimed restaurant row. BURA is seeking to engage strategic consulting and brokerage services to assist in its development solicitation process, marketing, and potentially developer review and selection this winter/spring, to achieve national developer marketing outreach and ensure a strong pool of potential developers responds. The successful firm will be an experienced consulting and brokerage firm with a national reach, actively marketing and assisting in securing qualified developers to enter into a public-private partnership for the development of the sites, seeking to enter an exclusive negotiation agreement with BURA, culminating in a disposition and development agreement and sale of the property, which may or may not occur in phases (up to 2 likely). Community input was gathered through surveys, meetings, and focus groups, and recommendations were documented in the BURA Board-approved BURA Portfolio Redevelopment Strategy (adopted July 2023). Recommendations included creating flexible office spaces, improving access and connectivity, including new north/south roads, and attracting office tenants among this mix of uses sought. BURA expects to release a development solicitation in Spring 2027.