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Housing Authority of the City of Milwaukee·Wisconsin

Equity Investors - Carver Park

Closes 10/11/2021$8M – $12MRequest for Proposal
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Description

The Housing Authority of the City of Milwaukee (HACM) seeks an equity‑investor (or investors) to provide equity financing for the Carver Park RAD conversion project—a 122‑unit, low‑income housing redevelopment in Milwaukee, WI. The investor will fund the equity portion according to a defined pay‑in schedule (10 % at closing, 75 % at construction completion, 10 % at stabilization, 5 % at final IRS filing) and may optionally propose construction or permanent‑loan financing. The partnership will be governed by a proposed partnership agreement, includes requirements for insurance, EEO/AA/ADA compliance, and non‑collusive affidavit. Evaluation heavily weights pricing (50 % of score) with additional points for guarantees, RAD experience, and coordination ability.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Kent Britton(Procurement Contact)

[email protected]

(414) 286-5863

Key dates

Opened
9/18/2021
Questions due
9/28/2021
Closes
10/11/2021
Duration
5 – 10 years

Last updated

Details

Type
Request for Proposal
Industry
Real Estate
NAICS
531311
Solicitation №
58029

Budget estimate

$8,000,000 – $12,000,000

The RFP does not disclose the exact equity amount, but the overall development cost is roughly $19.9 million, with a typical equity share of 30‑50 % for LIHTC projects. Assuming a 40 % equity contribution, the equity financing to be provided could range from $7 million to $10 million. Including fees for partnership management and potential construction financing, the total contract value to the investor could be in the $8 million‑$12 million range.

AI estimate from the solicitation

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