RFP for Real Estate Development: 628 1st Avenue, Council Bluffs, Iowa
Overview
The Southwest Iowa Foundation (SWIF) and Front Porch Investments invite proposals from qualified real estate development firms to create rental housing on a prime site in Council Bluffs, Iowa. This initiative aims to spur economic revitalization and enhance housing options in the downtown area.
Project Goals
- Develop at least 40 rental units with a focus on affordability.
- Encourage proposals that demonstrate significant community benefits and economic growth potential.
- Prioritize projects ready to commence construction quickly!
Site Details
- Location: 628 1st Avenue, Council Bluffs, Iowa, encompassing approximately 0.65 acres.
- Currently zoned for commercial use (C4), near downtown and major transport routes.
- Recent site work includes asbestos removal and building demolition.
Eligibility
Developers based in Omaha or Council Bluffs are preferred, but all qualified firms are welcome to apply. The project is particularly aimed at addressing local housing needs in the area.
Funding Opportunities
The site is within a designated opportunity zone, with potential access to local, state, and federal funding sources. Developers are encouraged to leverage these opportunities for project viability.
Timeline
- RFP Release: October 15, 2024
- Proposal Due: 12pm on December 5, 2024
- Final Award Notification (anticipated): January 17, 2025
Intent to Apply
Interested applicants should express their intent to apply by emailing frontporch@omahafoundation.org by November 15, 2024.
Application Deadline
Proposals are due to frontporch@omahafoundation.org by 12pm (noon) on Thursday, December 5th.
Evaluation Criteria
Proposals will be evaluated on experience, proposed use, community benefit, financing approach, and design quality.
Application Instructions
For full details and submission guidelines, please refer to the complete RFP Package:
PDF Request for Proposal Package
