2480 Sheridan St Detroit, MI 48214

This vacant land, situated within the West Village Neighborhood Enterprise Zone (NEZ), presents a significant infill opportunity. The sale encompasses two parcels located at 2480 & 2486 Sheridan Street. Development on this land should define space in a meaningful way and complement the surrounding community. The intended use is to provide a diverse residential stock and density at a variety of price points and ownership types, including rental and owned 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 following the transfer of ownership. This tax capture may be incompatible with other tax abatements available to the 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 lot size is approximately 0.07 acres.