Housing and Economic Opportunities, Inc. (HEO), on behalf of the Housing Authority of the City of Wilmington, North Carolina (WHA), seeks proposals from qualified, experienced and capable real estate developers, with financial strength and resources, who have a demonstrated record of accomplishment in successfully developing/re-developing properties into sustainable mixed-income, mixed-use communities. The goal is to choose from the proposals received, a development firm that will partner with HEO to redevelop the WHA public housing community into a new mixed-income, mixed-use community at the location identified in Exhibit A of this document. For the public housing community listed in Exhibit A, WHA anticipates that it will be demolished, and the units will be replaced using a variety of funding mechanisms including, but not limited to, Low Income Housing Tax Credits, New Market Tax Credits, Tax Increment Financing, Affordable Housing Bonds, FHA Insured Financing, conversion to RAD, private financing, etc. HEO expects that the public housing community will be redeveloped as a vibrant sustainable mixed-income, mixed-use community, with a variety of housing types and mixed-use opportunities integrated, where appropriate. WHA is open to strategies that consider public housing replacement units in a variety of ways and encourages respondents to be creative in their approach. If WHA is approved for RAD or other subsidies in the redevelopment plan, there would be an opportunity to request RAD project-based vouchers and subsidy to be included in new developments. For example, replacement public housing could be built back on the original public housing site, built on newly acquired sites, or included in existing development deals that the responder brings to the transaction. All public housing replacement sites must meet HUD’s Site and Neighborhood Standards.
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