DEVELOPMENT OF REAL ESTATE

The Waterbury Housing Authority (WHA) is seeking a qualified development partner to act as co‑developer for the West Grove Street Redevelopment project in Waterbury, CT. The partner will be responsible for procuring and managing construction, providing performance and completion guarantees, overseeing the delivery of 46 (or 40) affordable multi‑family units (all ≤ 60 % AMI) plus supportive‑housing units for households earning ≤ 30 % AMI, and handling ownership structuring, fee splits, cash‑flow distribution, and the right‑of‑first‑refusal arrangement with WHA. The project is fully funded through a $7.7 M Community Investment Fund grant, pending 4 % LIHTC, tax‑exempt bonds and other sources, with a target completion date of Dec 31 2025. • Scope includes full development‑partner responsibilities: design finalization, contractor procurement, construction management, guarantee provision, and post‑construction stabilization. • Financing relies on LIHTC, tax‑exempt bonds, CIF grant, and potential DOH funds; developer must structure the capital stack and assume all required guarantees. • WHA will act as co‑general partner, retain ownership interest, and receive a portion of the developer fee and cash‑flow; a right‑of‑first‑refusal on investor interest is included.