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November 6, 2023

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642 N 41st St

Renovation, Site Work

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$1,785,000.00

Public - City

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642 N 41st St, Philadelphia, PA

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Mount Olivet, located at 642 N 41st Street, Philadelphia, PA 19104 was built in 1967 and is approximately 4.57 acres consisting of 5 two story buildings with 161 multifamily rental units. There are 151 1-bedroom and 10 2-bedroom apartments along with a community center and on-site parking lots. The site is currently occupied and was originally financed with Low Income Housing Tax Credits (LIHTC's) through the Pennsylvania Housing Finance agency. There has not been any major renovations at the site since it was built and it is now in need of repairs and upgrades. PHA seeks a development partner ("Developer") to acquire and implement upgrades and necessary repairs at the site. The Developer is expected to determine the required scope of work along with the PHFA guidelines for LIHTC minimum standards. It is anticipated that the Developer will apply for LIHTC financing and other sources of funding required to implement the Approved Development Plan. The developer selected under this RFQ will lead all parts the development initiative, including design, financing, construction and management. The selected developer will be required to work closely with PHA and other community stakeholders throughout the development process. Questions Due Date: Aug 15th 2023, 5:00 PM EDT The method of Contractor Selection has not been Determined at this time.

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