Philadelphia, PA – December 9, 2013 – (RealEstateRama) — The Philadelphia Housing Authority (PHA) has issued a Request for Proposals (RFP) for qualified development firms with the goal of redeveloping three parcels located on Chestnut Street.
The agency is seeking proposals for the redevelopment of 2012, 2014, and 2016 Chestnut Street. A vacant, four-story building at 2012 Chestnut Street which at one time held its executive offices, finance and budget, and technology departments. Agency operations were relocated in the late 2000s and the building has been vacant ever since. The 2014 and 2016 addresses are vacant parcels formerly used for parking.
The RFP calls for proposals that could include either demolition or rehabilitation of the vacant building at 2012 Chestnut Street, with a design and completion of a building for the best use covering 2012, 2014, and 2016 Chestnut Street.
“We know that the Chestnut Street property is attractive and have received inquiries about it from time to time,” said PHA President and CEO Kelvin Jeremiah. “It’s in the best interest of PHA and the City to redevelop this property to help maintain a vibrant, healthy atmosphere in Center City.”
Under the proposal, PHA would continue to own the ground at the site and lease it to the new developer. The developers would finance, plan, design, construct, own, and operate the building or buildings at that location. The best uses may involve mixed-use, office, commercial, or residential use. The site is located in the Center City West Commercial Historic District and the winning developer or development team will be required to have the expertise to comply with the historic review process that governs the area.
The deadline for submitting proposals is February 7, 2014. The agency will take questions from interested parties until Monday, January 6. The agency plans on awarding a development contract in May 2014.