Housing Authority of the city of ATLANTA Georgia Awards Construction Contract to Mccormack Baron Salazar (March 2024)
Housing Authority of the city of ATLANTA GeorgiaLocal Housing Authority · Atlanta, GA- Disclosed value
- Ground rent of $1,543,221, Purchase Money Note of $2,056,779, AH loan not to exceed $19,534,612 at 4% interest, Total development cost $53,480,839
- From minutes
- Approved
- Mar 27, 2024
The 30-second brief
Atlanta Housing approved entering a 75-year ground lease with McCormack Baron Salazar for the Bowen Homes Phase 1 redevelopment, authorizing a ground rent, construction loan, and homeownership support as part of a $53 million mixed-income housing project.
Mccormack Baron Salazar holds this construction contract with Housing Authority of the city of ATLANTA Georgia. Its other public contracts on record include work for Housing Authority of the city of Pittsburgh and PHA in and for the city of Minneapolis.
Term as filed: Ground Lease up to 75 years, AH loan for 40 years, Construction period 24 months.
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Contract details
- Contract type
- Construction
- Amount
- Ground rent of $1,543,221, Purchase Money Note of $2,056,779, AH loan not to exceed $19,534,612 at 4% interest, Total development cost $53,480,839
- Document date
- March 27, 2024
- Term
- Ground Lease up to 75 years, AH loan for 40 years, Construction period 24 months
- Vendor
- Mccormack Baron Salazar
- Source document
- housing-authority-of-the-city-of-atlanta-georgia-meeting-minutes-march-27-2024_801.pdf (Minutes)
Mccormack Baron Salazar's other public contracts
More Housing Authority of the city of ATLANTA Georgia contracts
Questions about this contract
Who was awarded the construction contract by Housing Authority of the city of ATLANTA Georgia?
Mccormack Baron Salazar was awarded this construction contract by Housing Authority of the city of ATLANTA Georgia, as recorded on March 27, 2024. The contract value is Ground rent of $1,543,221, Purchase Money Note of $2,056,779, AH loan not to exceed $19,534,612 at 4% interest, Total development cost $53,480,839.
How much is the Mccormack Baron Salazar contract with Housing Authority of the city of ATLANTA Georgia worth?
The Mccormack Baron Salazar contract with Housing Authority of the city of ATLANTA Georgia is valued at Ground rent of $1,543,221, Purchase Money Note of $2,056,779, AH loan not to exceed $19,534,612 at 4% interest, Total development cost $53,480,839, covering construction work.
What type of contract is this?
This is a Construction contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in housing-authority-of-the-city-of-atlanta-georgia-meeting-minutes-march-27-2024_801.pdf (Minutes), dated March 27, 2024 from Housing Authority of the city of ATLANTA Georgia. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Mccormack Baron Salazar hold?
Mccormack Baron Salazar may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Housing Authority of the city of ATLANTA Georgia currently buying?
Explore Housing Authority of the city of ATLANTA Georgia's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.