Rancho Cordova Opengov #310732

Development and long-term operation of The Ranch affordable housing community

The City of Rancho Cordova is seeking a development partner for The Ranch, an affordable rental community planned for City-owned land. - Buyer: City of Rancho Cordova, Community Development Department. - Opportunity: Solicitation 310732 for The Ranch Affordable Housing Development Project, on property near Rancho Cordova Parkway and Chrysanthy Boulevard in Rancho Cordova, California. - Requested work: Finance, design, obtain approvals for, construct, own, operate, and maintain the community, including completing due diligence and securing required permits and financing. - Scale and residents: Provide at least 210 affordable rental units for lower-income households, including extremely low-, very low-, and low-income households. Offer a range of unit sizes, with family-oriented housing encouraged. - Development features: Proposals should address resident amenities and services, community and open space, quality design and landscaping, neighborhood compatibility, sustainability, resilience, and energy efficiency. Bicycle parking and EV charging should be considered as appropriate. - Long-term obligations: Maintain affordability and regulatory compliance for the applicable affordability period; its duration is not specified. Respondents propose the project schedule and long-term ownership, management, and maintenance approach. - Site and funding: The City anticipates making the site available through a land conveyance or ground lease. City funding is limited, and respondents should explain financing, funding sources and uses, and any requested City assistance. - OEMs and vendors: No OEMs, commercial vendors, or product part numbers are identified; this is a real estate development and operating-services opportunity. - Evaluation and selection: Proposals are assessed on development concept and community benefit, and on financial feasibility and funding leverage, each weighted at 25%. Selection is subject to City Council approval and does not guarantee a final agreement, property disposition, City funding, or project approval.

Description

The City of Rancho Cordova is requesting proposals from qualified developers to finance, design, entitle, construct, own, operate, and maintain an affordable multifamily rental housing development on City-owned property. The project must provide at least 210 units for lower-income households, serving a mix of extremely low-, very low-, and low-income households. The selected developer will secure financing, obtain required approvals, manage construction and the development team, and maintain affordability and regulatory compliance for the required period. Proposals are due online through the City's OpenGov portal by October 30, 2026, before 5:00 p.m.; the City anticipates making the property available through a land conveyance or ground lease, subject to approval and negotiation.

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