Riverside Seeks Proposals for University Avenue & Five Points
The City of Riverside has released two request for proposals for development of Successor Agency owned parcels, one for parcels on University Avenue and the other for the Five Points area at the corner of Pierce Street and La Sierra Avenue.
2731-2871 University Avenue:
This request for purchase and development proposals offers a unique mixed-use development opportunity in the University Neighborhood of the City of Riverside. The development site is approximately 1.95 acres located at the northeast corner of University Avenue and Park Avenue. The Property is situated along one of the City’s most important gateways with a four-lane thoroughfare linking Downtown Riverside and UCR, has excellent freeway access and located within a neighborhood that consists of a diverse, actively engaged community and is within the Eastside Neighborhood Plan. The Property is located within a neighborhood that offers a unique mix of land uses ranging from high-density student-oriented apartments to a thriving center of commerce and entertainment, to low density hillside housing and finally to large sections of farm land. Student housing dominates the region and businesses are concentrated along University Avenue, just a short walk from UCR. The Successor Agency would consider a high quality mixed-use residential/office/retail development including a neighborhood market for the Property. To access the full RFP, click here.
Five Points - Site B:
This request for purchase and development proposals offers a unique mixed-use development opportunity in the western gateway to the City of Riverside. The development site is approximately 2.4 acres located at the Five Points intersection, a City landmark, which is a short walk from La Sierra University, located near upscale shops, high-quality restaurants and key services, as well as the Inland Empire’s most prestigious shopping center, the Galleria at Tyler. The Property is located within a diverse neighborhood with business parks, retail and a wide variety of residential development. The Successor Agency would consider a high quality mixed-use development including a sit down restaurant with no drive-thru at the corner of Pierce Street and La Sierra Avenue and an office project on the adjacent parcels, which will support the community, enhance the surrounding neighborhood and provide job opportunities for local residents.To access the full RFP, click here.