Equity and Debt Proposals for Revitalization of Jefferson Park

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REQUEST FOR PROPOSALS 

EQUITY AND DEBT PROPOSALS FOR

REVITALIZATON OF JEFFERSON PARK

The Cambridge Housing Authority hereby requests the submission of written proposals from prospective lenders and/or low-income housing tax credit investors (“Respondents”) to assist in the financing the Revitalization of Jefferson Park Federal.  Equity is estimated to be over $94 million, and construction debt of potentially $142 millon.

Respondents can apply for construction lending and/or equity.  Respondents specific to equity can also propose to serve as construction lender or construction bridge lender.  Respondents specific to lending can propose to serve as construction lender, construction bridge lender, or both.  MassHousing will be providing the permanent loan.

The Project sponsor is the Cambridge Housing Authority.  The Project developer is expected to be Kennedy Management Inc., a non-profit instrumentality of the CHA.  The property will be owned by a separate LLC, and will have a separate managing member.  It is expected that the Project is anticipated to close in mid-July 2022.

The Request for Proposals (RFP) contains specific requirements and other information necessary for submitting a proposal.  Please contact Carsten Snow-Eikelberg via email at:  csnow-eikelberg@cambridge-housing.org or via phone at:  617-520-6259 and Stefan Wolkenhauer via email at:  swolkenhauer@cambridge-housing.orgwww or via phone at: 617-520-6253 if you wish to receive a copy of this RFP.

Proposals must be received no later than 5:00 PM EST on Wednesday, October 6, 2021.  Proposals received after this deadline will not be considered.

This RFP is not an offer to sell, or the solicitation of an offer to buy, any security.

 

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