Moore Square East Redevelopment

The City of Raleigh Housing and Community Development Department is requesting qualifications for a development partner to redevelop Moore Square East, a 1.8-acre City-owned property in downtown Raleigh with frontage on E Hargett, S Bloodworth, and E Martin streets, under RFQ #274-HCD-FY27-7, with proposals due November 12, 2026 at 10:00 AM EST. Threshold qualifications require completion of at least one 4% or 9% LIHTC project in Raleigh since January 1, 2021, and prior successful completion of a LIHTC project utilizing City of Raleigh and Wake County gap financing — a capability filter that eliminates developers without demonstrated local tax-credit and gap-financing experience.

The scope calls for minimum 100 units of affordable housing utilizing 4% Low Income Housing Tax Credits, with a minimum of one unit and up to 10% of units set aside for City of Raleigh referrals, and up to 30% of total units potentially restricted to individuals with disabilities or experiencing homelessness. The City will provide a long-term ground lease at nominal rent and between $4 million and $8 million in gap financing. The gap-financing loan carries 0–2% interest rates with terms of 20, 30, or 40 years and deferred, monthly, or annual repayment options tailored to project needs. Proposers must have an approved property management firm on the NCHFA vendor list and must submit written confirmation of acceptance of City terms for gap financing and ground lease.

Evaluation weights are team and firm experience (25%), project experience (35%), firm financial stability (10%), and project understanding and approach (30%). The pre-proposal conference is October 7, 2026 at 1:00 PM EST via Microsoft Teams. Written questions are due October 9, 2026. Short-list notifications are anticipated November 24, 2026, with interviews and selection announcement in early December 2026, followed by City Council approval January 5, 2027. The City targets a January 2027 pre-application deadline to the North Carolina Housing Finance Agency.