Bloomington HRA Request for Developer Interest

The Housing and Redevelopment Authority in and for the City of Bloomington (HRA) is seeking proposals from emerging developers to develop a four-acre property on the 8600 block of Xerxes Avenue for affordable homeownership opportunities. The ideal partners would have some experience with similar small-scale affordable projects, demonstrate commitment to affordable housing, and have financing capabilities and local market knowledge for the proposed project. Partnerships are eligible for this Request for Developer Interest.Because a goal of this program is to expand partnership opportunities and work with emerging developers, we welcome applicants who have not completed new construction projects but who may have worked in adjacent fields such as construction, real estate, etc., and who are expanding into development projects.Development requires cash and up-front investment. The Bloomington HRA is seeking partners who can contribute equity to this project in the amount of $30,000 or more. The HRA remains committed to seeking additional funding opportunities and investing in the properties on this site