Developers who are interested in building a hotel in Davis Square have until Feb. 4 to submit their plans to the city, according to a request for proposals issued Dec. 19.
The city is seeking to sell the parking lot at Herbert and Day streets—home to the Davis Square Farmers Market—to a hotel developer and is accepting proposals from both big chains and independent operators, according to the request for proposals, which you can read here.
The land is valued at $1,001,400, and developers will have to show how their proposal will add revenue to the city's coffers and maintain parking spots in the area, the request says.
It says the city plans to interview development teams and chose a developer by March.
Somerville sought to bring a hotel to the Davis Square area a few years ago but received little interest, according to Board of Aldermen proceedings held in October. It's hoping an improved real estate market will interest developers this time around.
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