RFP 2575 Falk Road

The City of Vancouver, Washington Economic Prosperity & Housing Department is seeking a development partner to lead the development of a workforce housing project on a 2.76-acre vacant site at 2575 Falk Road in the Fourth Plain neighborhood, with proposals due September 4, 2026 at 5:00 p.m. PT. The City prioritizes cost-efficient design financed independently from competitive public funding programs and will not allocate Affordable Housing Fund dollars to this project.

The scope requires workforce housing targeting households at 80–120% of Area Median Income with demonstrated long-term affordability mechanisms. The site is zoned Mixed-Use with a minimum density requirement of 32 units per acre, a maximum height limit of 110 feet, and density-bonus eligibility for larger units; studio units must not exceed 20% of the unit mix. Hard construction costs must be at or below $225 per square foot. Proposals may structure the transaction as a site sale or ground lease for minimal City consideration based on project outcomes. Proposals should not exceed 50 pages and must include development team information, preliminary designs, development budgets, financing plans, affordability strategies, and operating pro-formas for rental projects.

Evaluation weights cost at 35%, financial feasibility at 20%, affordability at 20%, and project team experience and qualifications at 25%. Available City incentives include an 8-, 12-, or soon-to-be-available 20-year Multi-Family Tax Exemption Program; partial impact fee exemptions or waivers up to 80%; and a Permit Re-use Program with 50% reduction in building permit review fees. Proposals must be submitted through the City of Vancouver Procurement Portal. An Applicants Briefing Session was held June 25, 2026. The City will announce finalists by September 30, 2026, conduct interviews the week of October 5, 2026, and seek City Council consent on the selected partner by November 2, 2026.