city OF ATLANTA, Dept. of Housing and Community Development Awards Construction Contract to Mccormack Baron Salazar (March 2024)
city OF ATLANTA, Dept. of Housing and Community DevelopmentLocal Housing Authority · Atlanta, GA- Disclosed value
- Not to exceed $19,534,612 loan; $2,056,779 purchase money note; $1,543,221 ground rent; estimated total development cost $53,480,839
- From minutes
- Approved
- Mar 20, 2024
- Renews
- Free account
The 30-second brief
Atlanta Housing Authority selected McCormack Baron Salazar as lead developer of Bowen Homes Phase 1, approving a complex financing and ground lease deal for 151 multifamily units to enhance affordable housing.
Mccormack Baron Salazar holds this construction contract with city OF ATLANTA, Dept. of Housing and Community Development. 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.
The renewal date is on record. A free account shows it, with the renewals for every city OF ATLANTA, Dept. of Housing and Community Development contract.
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Contract details
- Contract type
- Construction
- Amount
- Not to exceed $19,534,612 loan; $2,056,779 purchase money note; $1,543,221 ground rent; estimated total development cost $53,480,839
- Document date
- March 20, 2024
- Term
- 75 years ground lease; Loan: 24 months construction, then 40 year permanent period (approx. 42 years total)
- Renews
- Free account
- Vendor
- Mccormack Baron Salazar
- Source document
- housing-authority-of-the-city-of-atlanta-meeting-minutes-march-20-2024_f6d.pdf (Minutes)
Mccormack Baron Salazar's other public contracts
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Questions about this contract
Who was awarded the construction contract by city OF ATLANTA, Dept. of Housing and Community Development?
Mccormack Baron Salazar was awarded this construction contract by city OF ATLANTA, Dept. of Housing and Community Development, as recorded on March 20, 2024. The contract value is Not to exceed $19,534,612 loan; $2,056,779 purchase money note; $1,543,221 ground rent; estimated total development cost $53,480,839.
How much is the Mccormack Baron Salazar contract with city OF ATLANTA, Dept. of Housing and Community Development worth?
The Mccormack Baron Salazar contract with city OF ATLANTA, Dept. of Housing and Community Development is valued at Not to exceed $19,534,612 loan; $2,056,779 purchase money note; $1,543,221 ground rent; estimated 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-meeting-minutes-march-20-2024_f6d.pdf (Minutes), dated March 20, 2024 from city OF ATLANTA, Dept. of Housing and Community Development. 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 city OF ATLANTA, Dept. of Housing and Community Development currently buying?
Explore city OF ATLANTA, Dept. of Housing and Community Development's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.