Emerging Developer Loan Fund II RFP for the Provision of Consulting Services

Deadline: November 6, 2023



Emerging Developer Loan Fund II RFP for the Provision of Consulting Services   NYCEDC is creating the Emerging Developer Loan Fund II (the “Program”) to provide financial support to real estate developers facing barriers to entry (“Emerging Developers”). The loan fund will finance real estate pre-development, acquisition, and construction costs for private projects, projects administered by NYCEDC, and projects with the City of New York (the “City”).

To facilitate the Program, NYCEDC is seeking a consultant. The consultant will be required to raise additional capital, in addition to the $5 million NYCEDC is already committing, and to structure the monies of the fund. The consultant will also review, underwrite, and originate loans to Emerging Developers. The consultant will also be responsible for the management of the loans and marketing of the fund. Details on each of these areas will be made explicit in the RFP.

NYCEDC’s objective in creating the Program is to eliminate the barriers to entry into the real estate developer community for Emerging Developers and to develop a pipeline of developers. Further, NYCEDC wants to ensure that Black, Indigenous and People of Color (“BIPOC”) real estate developers and BIPOC fund administrators that finance their projects have an opportunity to participate in the Program. To this end, NYCEDC strongly encourages BIPOC fund administrators that seek to finance projects being developed by BIPOC real estate developers to submit a response to this RFP.

NYCEDC plans to select a consultant on the basis of factors stated in the RFP which include but are not limited to: quality of the proposal, experience of key staff identified in the proposal and their experience performing services that are similar to those encompassed in the RFP, quality of the consultant’s existing portfolio, and the proposed additional capital raised and fee structure.
To download a copy of the solicitation documents, please visit

Please be aware that all potential updates and notifications will be sent via email to respondents who have accurately and completely filled out the download form or have picked up the relevant documentation.

In addition to downloading the RFP, you may also be interested in signing up to be listed as a potential subcontractor or supplier for companies responding to our development and procurement opportunities.
Contracts Department
New York City Economic Development Corporation
One Liberty Plaza
New York, NY 10006
[email protected]