Surplus Residential Property Sale and Development
City of Covington > Department of Community Development > Finance Department > Procurement Office
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Contact
Submission Instructions
Description
The City of Covington is offering seven city-owned vacant residential parcels for sale and redevelopment: five parcels on Pleasant Street and two parcels on East 13th Street. Proposals may provide single-family, townhouse, condominium, or multifamily housing, with preference for redevelopment of multiple or all contiguous lots. The proposed development should complement the surrounding neighborhood and may provide homeownership or rental opportunities. Respondents must submit a purchase price for each property, a development concept, public-benefit narrative, project schedule, preliminary capital pro forma, financing information, team experience, licensing evidence, references, and required affidavits. Affordable housing proposals may purchase the parcels below full market value if all units serve households at or below 80% of area median income; market-rate proposals must offer full market value. The property is offered as-is, with the successful respondent responsible for due diligence, title verification, and recording the quitclaim deed.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- Commercial General Liability — $1,000,000.00
- Commercial General Liability — General Aggregate — $2,000,000.00
- Professional Liability — $2,000,000.00
- Workers' Compensation
- Minimum 3 references
- Client point of contact required for each reference
Location
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