North Carolina eVP #274-HCD-FY26-18

City of Raleigh Seeks Development Partners for Affordable Housing Redevelopment at Hillsborough-Western Site

The City of Raleigh is seeking qualified development partners for the redevelopment of approximately 3.5 acres of City-owned land at the Hillsborough-Western site into affordable or mixed-income multifamily rental housing. - Government Buyer: - City of Raleigh, Housing and Community Development Department - Redevelopment Projects Administrator: Lauren North - Project Scope: - Redevelopment of parcels at 0 Western Blvd., 5508 Western Blvd., 5507 Hillsborough Street, and 5511 Hillsborough Street - Transit-oriented, surface-parked, three- to five-story multifamily rental housing - Estimated 89-124 units based on preliminary test fits - Affordable Housing Requirements: - At least 20% of units must be affordable to households earning ≤60% Area Median Income (AMI) - Affordability period of at least 50 years - Additional set-asides for City referrals and potentially for people with disabilities or experiencing homelessness - Site and Financing Details: - Long-term ground lease (minimum 50 years, up to 99 years) - Gap financing up to $1.5 million available - Potential partnership with Raleigh Housing Authority for RAD Project Based Vouchers - Unique/Notable Requirements: - Compliance with Neuse River Riparian Buffer regulations - Emphasis on innovative, creative, and efficient site use - Demonstration of financial stability and experience with affordable housing - Incorporation of sustainability features - Solicitation Process: - Two-step process: RFQ to shortlist developers, followed by RFP for selected teams - No specific OEMs or vendors are named; focus is on developer qualifications and vision

Description

The City of Raleigh is seeking qualified for-profit or non-profit development partners for the redevelopment of City-owned parcels located at 0 Western Blvd., 5508 Western Blvd., 5507 Hillsborough Street, and 5511 Hillsborough Street totaling approximately 3.5 acres. The redevelopment aims to create affordable housing along the planned Western Boulevard Bus Rapid Transit (BRT) corridor. The City encourages innovative proposals that maximize the potential and efficiency of the site, with a significant affordable housing component. The project will be made available via long-term land lease and will follow a two-step solicitation process starting with this Request for Qualifications (RFQ).

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