1925 MERRICK Street Detroit, MI 48208

This residential land offers a new build infill opportunity within the thriving Woodbridge community, conveniently located near downtown Detroit. The intended use of the property is for residential development. The building design should complement the community, defining space in a meaningful way. The development should provide a diverse residential stock and density at a variety of price points and ownership types, including rental and owner-occupied housing. Housing types should also vary. Densities should support opportunities for neighborhood commercial investments and job creation, stimulating growth in the local economy. The Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years subsequent to transferring ownership of the property. This tax capture may be incompatible with tax abatements otherwise available to the selected purchaser. The 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 amount will be determined upon reviewing the development proforma and the effect of any tax abatement on the purchase and development financing. The property is located in Detroit, Michigan, with a postal code of 48208, situated in Wayne County.