Catalyst wins Lakeland RFQ
The Lakeland Community Redevelopment Agency (CRA) and city commissioners have selected Catalyst Asset Management as the developer for a 1.49 acre city-owned site in downtown Lakeland. Catalyst plans to acquire and develop a mixed-income, mixed-use property, comprised of market-rate and workforce housing rental units.
Michael Allan, Managing Director of Catalyst, was responsible for preparing the RFQ response and will lead the development team for this project. "There is still a great deal of work to be done, but at this point in the process, we're very excited and equally encouraged about the City of Lakeland and CRA's willingness to work with us," Allan said. "Together, along with community input, we're dedicated to delivering a creative design that fits within the character of downtown Lakeland, while maintaining the construction quality that Catalyst is known for." Catalyst will work with the CRA over the next 90 days to assess the needs of the market and negotiate the terms of the developer agreement.
Read more about the RFQ from the Lakeland Ledger:
Catalyst Asset Management, Inc., is an impact investment management firm, organized as a public benefit corporation (B Corp), specializing in strategies that achieve attractive risk adjusted investment returns, social impact, and environmental sustainability. The company develops market rate and affordable housing, commercial, and mixed-use projects in Florida, and provides debt and equity capital to small business owners and mission-driven real estate developers nationwide through its nonprofit affiliate, Catalyst Community Capital.