(NEWARK, NJ) -- On December 14, 2023, Mayor Ras J. Baraka announced that the City of Newark has issued a Solicitation for Proposals to enable it to choose experienced contractors, developers, and non-profits to participate in a major new equitable growth housing initiative. The initiative will help increase affordability and build wealth through creating or renovating multi-family buildings and homes that residents can own. It will also expand opportunities for Minority/Women-owned Business Enterprise (MWBE) developers and contractors, and provide jobs and job training for Newark residents.
"This initiative is an opportunity for experienced developers, contractors, and housing non-profits to participate in building an equitable future for Newark," Mayor Baraka said. "It is an important step toward creating more affordable housing, increasing homeownership, reducing the wealth gap, providing training and jobs for Newark residents, and expanding opportunities for MWBE businesses."
* The deadline to submit proposals for the second round of Solicitations for Proposals will now be Monday, January 22, 2024, by 5:00pm
* All proposals shall be submitted via the newly established online submission portal (on City website page); the portal will be closed to all submissions after the deadline mentioned above.
* A new webpage has been created for this initiative and Zoning verification letters are available.
The initiative, "Equitable Investments in Newark Communities" is a response to reports by the Rutgers Center on Law, Inequality and Metropolitan Equity (CLiME) and the NJ Institute for Social Justice that document the enormous wealth gap between white and Black/Brown families in New Jersey. The reports also show that homeownership, the major path for families to build wealth, is being eroded in Newark by the widespread purchase of residential properties by corporate buyers.
Equitable Investments in Newark Communities will use properties acquired from the City, the Newark Landbank, or private owners to build or renovate affordable housing units and sell homes to residents at affordable prices with low interest mortgages.
This round of Solicitation for Proposals will qualify and select general contractors and developers for construction and rehabilitation work such as construction of new housing, rehabilitation of distressed properties, and participation in home repair projects. Applicants may be individuals and organizations, both non-profit and for-profit, with the experience, financial resources, and capacity to acquire, manage, construct, rehabilitate, and maintain housing projects.
The City encourages collaborative partnerships between experienced organizations and small, local minority/women-owned enterprises, particularly small, local contractors, subcontractors, developers, and non-profit community development organizations. Interested applicants who do not individually have the required qualifications may form joint ventures that will collectively strengthen the team's qualifications.
For more information on the City of Newark, please visit www.newarknj.gov
