1197 Concord St Detroit, MI 48207

This property is a 0.16-acre residential land parcel listed in a bundle with seven contiguous parcels: 1207 Concord, 1197 Concord, 1191 Concord, 1185 Concord, 1179 Concord, 1173 Concord, and 1221 Concord. The properties must be purchased together and cannot be split. Zoned residential, the property provides excellent potential for a new build or infill development opportunity. Interested buyers must submit a proposal that includes a project proposal with the intended use of structure and timeline, proof of funds, scope of work with a breakdown of renovation costs, and proof of previous projects including addresses and photos. The Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development to increase housing supply, restore the urban fabric, and improve density and walkability. Interested buyers should consult the 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. 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.