The City of Pasadena has initiated a sealed bid process to secure highly-qualified residential real estate listing brokers for the disposition of approximately 17 vacant single-family properties, in accordance with California Senate Bill 959.
The net sales proceeds will be used by the City to develop affordable housing elsewhere in the City
Under Senate Bill 959, the city has the opportunity to purchase surplus properties from the California Department of Transportation, with the intent to subsequently sell them to market buyers “as-is” and utilize the proceeds for affordable housing development.
The City anticipates successfully acquiring the 17 homes from Caltrans, according to an online City document.
To facilitate the sale, the City is seeking real estate brokers to list, market, and sell these properties, with each selected proposer responsible for no more than five (5) properties. The assignment of properties may involve random allocation, geographical location, or specialization.
The deadline for questions related to the solicitation is Tuesday, July 18 at 2:00 pm.
Questions should be submitted through the City’s eProcurement Portal Q&A function.
The project timeline includes the question submission deadline of July 18 at 2:00 pm, and the proposal submission deadline of July 25 at 2:00 pm.
For more details and to participate in the bid process, interested parties are encouraged to review the full solicitation documents available on the City of Pasadena’s eProcurement Portal:
Caroline Nelson, Housing Production Program Coordinator, can be contacted for further information at (626) 744-8314 and firstname.lastname@example.org.