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Neighborhood Economic Development for the City of Philadelphia
City of Philadelphia Department of Commerce
The buyer is seeking proposals for neighborhood economic development projects in Philadelphia. The funding opportunity provides gap funding for commercial real estate projects that provide space for businesses serving low and moderate-income residents. Eligible projects include planning, pre-development, development, and acquisition. The buyer aims to support community-driven development that positively impacts neighborhoods and provides vital goods and services.
- 2/13/2025 - Pre-Proposal Meeting
- 2/20/2025 - Applicant Questions Due
- 2/24/2025 - Answers Posted
- 3/31/2025 - Proposal Due Date
- 4/23/2025 - Applicant Selection
- 7/1/2025 - Contract Execution
- Provide gap funding for commercial real estate projects
- Fund planning, pre-development, development, or acquisition of projects
- Develop commercial space for businesses serving low/moderate-income residents
- Submit quarterly progress reports to Commerce Department
- Maintain affordable rents for commercial tenants
- Create jobs targeted to low/moderate-income individuals
- Obtain environmental and historical clearances
- Comply with labor standards and OEO reporting requirements
- Develop a 5-year operating proforma for the project
- Solicit public input for planning projects
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