The City of Fairbanks is seeking proposals for a lease opportunity at 550 1st Avenue. The selected proposer will be responsible for leasing and activating the property, formerly known as the Yukon Quest Cabin. The goal is to enhance downtown vitality and economic development. Proposals should detail the intended use, operational plan, proposed improvements, financial capability, and relevant experience. The lease term is expected to be long-term, ranging from 4 to 10 years. All proposals must be submitted by June 17, 2026, at 2:00 PM AKDT to the City Clerk's Office. Communication regarding the RFP must be directed to the purchasing agent. Proposals will be evaluated based on proposed use, downtown activation, community benefit, operational plan, long-term viability, proposed improvements, tenant investment, financial capability, and relevant experience.
Sealed proposals are due prior to the deadline of June 17, 2026, 2:00 PM AKDT. Late proposals will not be accepted, with no exceptions.
The city anticipates entering into lease negotiations with the offeror whose proposal is determined to be the most advantageous to the city, considering the evaluation criteria identified in this RFP. Selection will not be based solely on proposed rental amount.
The city is requesting proposals from firms qualified and interested in providing the lease opportunity. Proposals should include sufficient detail to allow the city to evaluate the proposers qualifications, intended use, and ability to successfully occupy and operate the property.
Proposers are strongly encouraged to inspect the property and become familiar with existing site conditions prior to submitting a proposal.
The preproposal question deadline is June 10, 2026, at 5:00 PM AKDT.
Any one or more of the following reasons may cause proposals to be rejected: communication with any employees or agents of the city during the RFP process (excluding those specifically listed), evidence of collusion or other anticompetitive practices among offerors, lack of competency, lack of responsibility, or uncompleted work under other current contracts.