RFP for Development Partner for Workforce Homeownership Housing

Project Description: The Bucks County Housing Authority (the “Authority”) invites qualified real estate development teams to submit proposals for a joint venture to plan, design, finance, and bid out for construction new workforce housing on land currently owned by the Authority on Tyburn Road in Falls Township, Bucks County, Pennsylvania (the “Site”).
The Authority has acquired the Site with the goal of creating homeownership opportunities for households earning approximately 80%–120% of Area Median Income (AMI). The Authority seeks to partner with a development team that shares its commitment to:
• Delivering high-quality, attainable homes for working families.
• Ensuring long-term attainability through deed restrictions, resale formulas, or other sustainable affordability mechanisms (collectively, “Attainability Mechanisms”). To further support lasting attainability, the Authority will retain a soft-second mortgage (non-amortizing, subordinate mortgage lien) in the amount of any Authority subsidy allocated to an eventual homeowner, which will be repayable upon resale or other transfer events as specified in the Attainability Mechanisms.
• Advancing innovative, sustainable, and green building practices.
• Designing a project that complements and integrates with the surrounding neighborhood, much of which has historic character.
• Providing shared amenities that foster a sense of community among homeowners, including a community playground and garden.
• Promoting opportunities for local workforce participation in construction and related activities.
The Authority will take the lead on securing zoning approvals and other required development entitlements (such as site plan or subdivision approvals) (collectively, “Entitlements”) and anticipates playing an active role as a co-developer and long-term steward of affordability.