The Austin Housing Finance Corporation (AHFC) released a competitive Request for Qualifications (RFQ) solicitation to develop, own, and operate a proposed approximately 90 to 100-unit multifamily apartment on a 2.5-acre property owned by AHFC located at 5900 South Pleasant Valley Road in south Austin. Later this year, AHFC will release a separate RFQ to identify a preferred developer to partner with AHFC to develop approximately 40 to 50 units using AHFC’s community land trust (CLT) model on the eastern lot (Block 4, 5901 Drowsy Willow Trail).
Supporting documentation is available on the RFP web page.
The development of the property at 5900 South Pleasant Valley Road is anticipated to address both affordable housing priorities and additional community priorities that were identified through previous public engagement efforts. The development shall consist of an approximately 90 to 100-unit multifamily rental apartment developed as low-income affordable housing accommodating a variety of household types.
Complete responses must be submitted to the AHFC by 11:59 p.m. CST on April 26, 2023 to be considered for award. Submission instructions are included within the RFQ—available on the RFP web page.
Following contract award, as determined by the Austin City Council and AHFC Board of Directors, the proposed developer(s) will enter an Exclusive Negotiation Period with the AHFC, the goal of which shall be the negotiation and execution of at minimum the following agreements by October 13, 2022:
- Ground Lease Option
- Limited Partnership Agreement
- Master Agreement
- Memorandum of Understanding and Summary of Terms
Questions regarding this Request for Qualifications may be directed to the RFQ’s Authorized Contacts:
Procurement Specialist IV
Persons desiring further information or interpretation of the RFQ requirements must make a written request for such information to AHFC no later than ten working days before the RFQ submittal due date. Changes to the RFQ documents will be made by addendum only. Questions and Answers that are significant will be provided as a Clarification Document(s).