1051 Concord St, Detroit, MI 48207

Description

Welcome to the latest offering from the Detroit Land Bank Authority. Six (6) buildable lots in the Islandview neighborhood just minutes from Belle Isle park. Sale includes 1075, 1069, 1063, 1057 and 1043 Concord. The DLBA is seeking proposals for small- to medium-scale infill development with the goal of increasing housing supply and restoring the urban fabric, as well as density and walkability. These parcels are currently zoned R2 but higher-density proposals may be possible as a conditional use. Interested buyers should consult DLBA proposal guidelines for new build opportunities and provide a project description with their offer. The DLBA also recommends reviewing the Islandview Greater Villages Neighborhood Framework Plan from the City of Detroit's Planning and Development Department for additional context about the neighborhood. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines