In a significant step forward for the long-delayed project, Cambridge Waterfront Development, Inc. (CWDI) announced the release of a Request for Proposals (RFP) for experienced commercial real estate brokers to market the development of Cambridge Harbor along the Choptank River.
CWDI plans the development of the 35 acres of prime waterfront properties as a walkable, mixed-use destination shaped by the principles of new urbanism, featuring residential, retail, hospitality, and community spaces, along with a waterfront promenade.
“We are seeking a brokerage partner with the expertise and reach to help us attract developers who can deliver on our vision of a lasting place for our community and a destination on the Eastern Shore,” said Tim Crosby, CWDI’s Planning Committee Chair.
The RFP process will identify a brokerage partner who can help connect CWDI with developers interested in contributing to the long-term success of the site. CWDI states that it offers flexible development opportunities and transaction structures, with a focus on placemaking, economic development, and community inclusion.
The RFP will be released on September 26, with proposals due by midnight on October 31. CWDI expects to select a broker on November 26. Interested respondents should contact CWDI at [email protected] to request a nondisclosure agreement (a standard requirement to ensure that respondents have access to detailed project information while protecting sensitive planning and financial data).
Upon receipt of the signed agreement, CWDI will provide access to the RFP materials. Proposals should be submitted electronically via Google Drive, with each respondent receiving a dedicated folder linked to the email address provided in the signed agreement.
City Councilmember Brett Summers, a professional developer and close observer of the Harbor project, said the RFP was a welcome and important milestone in the process. He explained that once a broker begins work in November, the firm will prepare an offering memorandum with market information, concept plans, and pro formas, and then take it to the market. The firm will then work with CWDI on an ongoing basis to identify developers and negotiate the sale of the land.
“CWDI is taking the right steps,” Summers told The Spy. “Cambridge Harbor’s success will soon be realized.”
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