3932 18TH ST Detroit MI 48208 MLS #20230006665

This vacant lot is bundled with 2541, 2553 Poplar, 3940,3944,3948,3956,3962,3968,3974,3980,3984,3992,3998,4004 18th St. A total of 15 lots. Not sold separately. Totaling= 60,000 sqft. 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 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 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. BATVAI