1944 Putnam St, Detroit, MI 48208

Description

4 Vacant Land parcels located in the Woodbridge neighborhood. Addresses included in subject listing are: 1944 Putnam, 5104 Vermont, 5114 Vermont, & 5120 Vermont. Lots average .10 acres each. Total purchase price is $25,000. The average new rowhouse development going for an average of $350K. The DLBA is seeking proposals that 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. Interested buyers should consult our proposal guidelines for new build opportunities. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional context about the neighborhood. Please note that the DLBA 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 abatement 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 abatement on the purchase and development financing.