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Flexible Capital Funding to Catalyze Housing Development in Cambridge
12/31/2024
10000000
Cambridge, MA
Cambridge Redevelopment Authority
The buyer is seeking proposals from housing developers for multifamily housing projects in Cambridge. The buyer has committed up to $10 million to accelerate housing development by offering low-cost and flexible equity and debt financing. Projects must include both market-rate and below-market units, with a minimum of 10 units total. The buyer aims to stimulate housing production and increase affordable housing options in Cambridge.
- 11/15/2024 - First Deadline for Written Questions
- 12/6/2024 - Second Deadline for Written Questions
- 12/31/2024 - Proposal Due Date
- 3/31/2025 - Second Round Proposal Deadline
- Project is permitted by existing zoning requirements
- Project contains at least 10 residential units
- Project includes both below-market and market-rate residential units
- Project site is located entirely in Cambridge
- Propose multifamily housing development project in Cambridge
- Request financial assistance up to $5 million per project
- Provide enhanced affordability or public benefits beyond 20% inclusionary requirement
- Submit detailed project description and funding proposal
- Demonstrate experience in delivering multifamily housing projects
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