Description
The Village of Islamorada is seeking a qualified developer to construct and operate an affordable housing development on village-owned land. The project should provide high-quality design, materials, and construction, and achieve sustainability and energy-efficient goals. The developer will be responsible for obtaining all necessary approvals, financing, and construction commitments. The Village is looking for a knowledgeable, financially sound, and experienced developer who can meet the current needs of lower-income residents. The project should include deed-restricted units for rent, with restricted rental rates, and should be managed by the developer or a homeowners' association.
• The project site includes four vacant lots, approximately 2.42 acres combined.
• The Village Comprehensive Plan allows for a maximum density of four units per lot, which equates to 16 total maximum units.
• The Village seeks to have the project developed as soon as possible, with a 99-year lease agreement.
• The Village will waive 100% of associated building permit fees and affordable housing in-lieu-of fees, and up to 50% of public safety, transportation, and parks and recreation impact fees.
• The developer should submit a proposal that includes a statement of interest, company overview, project management experience, project team qualifications, and a project timeline.