Name of Document: Request for Qualifications: Proposal Guidelines Development of Mixed-Income For-Sale Housing on Real Property located at 2907-2015 Welton Street
Date: 15 August 2017
Contact: City of Denver Office of Economic Development
Source: City of Denver website
The City and County of Denver’s (the “City”) Office of Economic Development (OED) has partnered with the Regional Transportation District (RTD) to procure an outstanding development partner to construct a transit-oriented, mixed-income condominium project at 2907-2915 Welton Street, Denver, Colorado. OED and RTD are offering a unique opportunity for the selected development team to play a leadership role in the creation of a new model of affordable homeownership as part of a dynamic public-private partnership.
In December 2016, RTD’s Board of Directors approved an option agreement for the City or its assignee to purchase RTD-owned property at 2907-2915 Welton Street (the “Property”) at fair market value, recently appraised at $1,800,000, for the development of mixed-income housing. The exercise of the option is contingent on the mutual selection of a development partner. OED is prepared to make attractive financing available to the selected developer.
The objective of this Request for Qualifications (RFQ) is to select a development partner to whom OED may assign its option to purchase the site and who is able to implement OED and RTD’s shared vision for the site, as described in greater detail in Section A.2 and Section B. The ideal development partner will have experience constructing condominiums in a construction-defects context, constructing incomequalified housing, and leveraging public finance. OED and RTD will not prescribe a specific development program, site design, or financing structure in this RFQ. Instead, OED and RTD expect the ultimate project to reflect the selected developer’s commitment to market viability, innovation, and attainable housing opportunity for Denver residents and families.”