Request for Proposals: Development of Vacant Lots on Lake & Lucerne Ave. (Expired 3/27/19)

SUMMARY OF ITB

Purpose

The purpose of this Request for Proposals (RFP) is to solicit proposals for the development of vacant, CRAowned parcels along both Lake and Lucerne Avenues in the mixed-use east zoning district (corresponding land development regulations, future land use policies, density bonuses and economic incentive opportunity are included as appendixes A, B, C & D). A total of eleven lots located along Lake and Lucerne Avenues between “F” and “C” Street and west of the FEC tracks were purchased by the CRA by either Federal Neighborhood Stabilization or Line of Credit funds. The CRA is seeking proposals for all of the parcels available. Although different proposals may be submitted for each of the lots and blocks, the intent of the RFP is to create a unified vision with similar uses in the District that complement the existing landscape as well as each other. A proposal from one developer, willing to develop all of the parcels is preferred. It is the CRA’s intention to competitively select a Developer with the proven ability and interest to construct a development or developments, and also, to own the property once constructed. Projects must be at least two to three stories in height. Each project must have a mix of uses.

Background

The Lake Worth CRA has undertaken both housing and commercial property development over the last decade. The goal of the CRA is to spur private investment and improve property values in the District. In 2010 the CRA was awarded $23M from the U. S. Department of Housing and Urban Development for the development of at least 100 new or rehabilitated affordable housing units. The Lake Worth CRA and its partners, far exceeded this goal and, to date, created over 175 residential units. Other projects associated with the purchase of formerly blighted properties has also lead to the development of over 12,000 square feet of commercial space. With the development of commercial space, local jobs were created, meeting a NSP-2 National Objective. The CRA is seeking to continue the development of housing choices while also creating additional local job opportunities.

With that in mind, the CRA bought properties with NSP-2 funds and land-banked them for further development. Realizing that the development of single parcel, 25 foot lots, would not produce the project we envision, additional lots were bought a few years later, due in part, to a line-of-credit the CRA was able to secure. The CRA is now seeking to collectively develop these parcels in the bourgeoning arts district, in close proximity to the very successful Urban Arts Lofts, West Village and HATCH 1121.

 

To obtain this document, please call 561-493-2550 or Click Here to email your request.
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