The tract was created via MassDOT’s Route 79/Davol Street Corridor Improvements Project, which demolished the old elevated highway that was 600-feet wide in places and blocked access for pedestrians and bikers. The DOT has spent $135 million on the project to date, according to the Fall River Reporter newspaper.

The corridor is located adjacent to the Massachusetts Bay Transportation Authority’s new Fall River Depot, which connects Massachusetts’ South Coast to the broader region, including Boston and Providence, Rhode Island.

“By transforming the Route 79 corridor into a multimodal boulevard, investing in South Coast Rail, and improving connections between neighborhoods and the waterfront, we are glad to now release the invitation to bid on this transit-oriented development site,” Phillip Eng, MassDOT interim secretary and MBTA general manager, said in the release.

The site represents one of New England's largest waterfront redevelopment opportunities directly adjacent to commuter rail, according to the release.

Per MassDOT’s invitation to bid, the agency is looking for bidders with financial experience and the capacity to close and perform, organizational competence and legal compliance, among other attributes.

Those criteria also include developers capable of delivering a massive transit-oriented project that features more than 1,400 housing units, mixed-use commercial space and public amenities such as entertainment venues, according to the Fall River Reporter. The news outlet also reported the agency is looking for one to three developers to take on the project.

The ITB sets a deadline of Oct. 21 for proposals, with a virtual informational meeting scheduled for Aug. 5.