Thank you for your interest in doing business with Island City Development (ICD). Island City Development lists opportunities to work with us on a variety of projects. Various types of solicitations may be posted, including:
- Request for Proposals (RFP’s)
- Request for Qualifications (RFQ’s)
- Professional or Administrative Consultant Services
- Notice of Intent to Award Letters
All available items will be listed below when they become available. Please note that information is subject to change with little to no notice. All questions regarding any of these business opportunities should be directed to the contact person in the Procurement Document. For additional Opportunities visit AHA’s procurement page.
RFP – Construction-term Debt Webster Street Hotel Conversion
Published March 2, 2023
FAQ Published March 20, 2023
Island City Development seeks proposals from qualified lenders to assist in financing the acquisition and renovation of a hotel conversion project with a total of 50 units at 1628 Webster Street, Alameda, CA 94501. This acquisition and renovation is expected to close on September 25, 2023.
The Webster Street Hotel Conversion development is the conversion of an extended stay hotel, in good condition, elevator-served, on an engaging, transit-oriented street in the City of Alameda. This project contains forty-nine studio units of affordable housing (with their own kitchenettes and baths). Thirteen of the units will serve CES-filled homeless individuals that will need case management. Renovation will focus on creating additional accessibility, updating community spaces and adding solar for streamlining operating costs. Island City Development operates and reviews multiple affordable developments within a few miles of the site and is a hands-on and responsive owner to its residents, funders, and the surrounding neighborhood. The Housing Authority of the City of Alameda (AHA) is a co-sponsor of this development.
The permanent funding sources for this development include the Multifamily Housing Program of the State of California and the Housing Authority of the city of Alameda. There is no permanent mortgage. AHA funds are available during construction, but the State funds are only available after construction and conversion.
Deadline for Questions regarding the RFP are due March 16th, 2023, by 5:00PM.
Questions must be e-mailed to Sylvia Martinez, Director of Housing Development at email@example.com with a copy to Jocelyn Layte, Housing Development Specialist at firstname.lastname@example.org. Please use the subject line “Webster St Hotel Conversion Debt RFP – Questions.” A list of the questions asked and the answers will be published here.
Deadline for Submittal of Proposals for the RFP is April 10, 2023, by 5:00PM.
Please email responses to Sylvia Martinez at email@example.com with a copy to Jocelyn Layte at firstname.lastname@example.org. Subject of the email should be labeled “Webster St Hotel Conversion – Const. Debt RFP Proposal by [Respondent’s name].”
Request for Proposals and Exhibits
RFP FAQ Response
RFQ- Debt and Equity for North Housing Block A
Published: February 23, 2023
March 24,2023 – Addendum #1 Exhibits
March 27,2023 – Submittal Deadline Extended.
Island City Development is seeking qualifications from qualified lenders and tax credit investors to assist in financing the construction of all three projects with a total of 155 units at North Housing Block A, the first phase of the 12-acre North Housing development in the City of Alameda, California (Project(s)). The timing of the transaction(s) is still to-be-determined; however, one of the three projects is expected to break ground in November 2023.
North Housing is a 12-acre site that will be developed in multiple phases to be completed over several years. Block A is the first phase of the larger 12-acre redevelopment. The proposed new construction projects at Block A of the North Housing Development will be developed with three projects, totaling one-hundred and fifty-five (155) units.
• North Housing Permanent Supportive Housing I (PSH I) – 45 units
• North Housing Permanent Supportive Housing II (PSH II) – 46 units
• North Housing Senior Apartments (NH Senior) – 64 units
ICD highly encourages single sourcing of loans and equity, or a proposed team of qualified lenders/investors. Respondents can propose to serve as construction and/or permanent lender, tax credit investor, or both to the extent legally permitted. ICD will also consider qualifications for just a loan or equity. ICD expect qualifications to encapsulate all three properties because of their close proximity; however, if proposers wish to separate the projects, ICD will only accept standalone submissions for NH Senior. PSH I and PSH II MUST be included under one submission given the nature of the planned development.
The lender and tax credit investor selected through this RFQ process will have a 99.99% interest in each of the limited partnerships and are expected to receive 99.99% of the annual federal low-income housing tax credits and state tax credits.
Deadline for Questions regarding the RFQ are due March 16th, 2023, by 5:00PM. Questions must be emailed with the subject line “North Housing Block A Debt&Equity RFQ – Questions” to Sylvia Martinez, Director of Housing Development, email@example.com, with a copy to Tony Weng, Senior Project Manager, firstname.lastname@example.org and Jocelyn Layte, Housing Development Specialist, email@example.com.
Deadline for Submittal Qualifications of the RFQ has been extended from April 6, 2023, to April 20, 2023, by 5:00PM. Please email responses with the subject line “North Housing Block A Debt&Equity RFQ – Qualifications by [Respondents name]” to Sylvia Martinez, firstname.lastname@example.org, with a copy to Tony Weng, email@example.com and Jocelyn Layte, firstname.lastname@example.org.