Bethany House Releases Property Management RFP

Bethany House Services (BHS) is soliciting proposals from qualified, licensed, and insured third-party property management firms to provide pre-development advisory, lease-up, compliance, and full-service property management for a new affordable family housing development planned at 250 & 264 William Howard Taft Road in Cincinnati, Ohio. BHS is developing the project in partnership with Urban Sites, who will act as the co-developer and general contractor.

The project, currently referred to for RFP purposes as Wm. Howard Taft Apartments, is anticipated to contain 89 two- and three-bedroom units and to be financed as a 4% Low-Income Housing Tax Credit (LIHTC) development with tax-exempt bonds. BHS seeks a management partner with demonstrated Ohio LIHTC experience, significant experience managing income-restricted family housing (parent(s) plus minor-age children and/or related individuals), strong Cincinnati-area operating capacity, and the systems and staff necessary to protect long-term compliance, physical condition, resident experience, and financial performance.

Because the development is expected to consist entirely of two- and three-bedroom units, experience serving families at restricted income levels is a priority. The selected firm must also have the ability to provide dedicated on-site management and/or leasing staff if BHS and the project team determine that an on-site model is appropriate.