278 Belmont St Detroit, MI 48202

This property, zoned residential, is listed in a bundle with four contiguous parcels: 288 Belmont, 296 Belmont, and 302 Belmont, all of which must be sold together. Encompassing 0.13 acres, the land offers potential for a new-build or infill development opportunity. Interested buyers must submit a proposal that includes a project proposal detailing the intended use and timeline, proof of funds, a scope of work outlining renovation costs, and proof of previous projects with addresses and photos. The Detroit Land Bank Authority (DLBA) seeks 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 and review relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional neighborhood context. The DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property, which may be incompatible with tax abatements. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes, determined upon reviewing the development proforma and the effect of any tax abatement on the purchase and development financing.