3065 SHERIDAN Street Detroit, MI 48214

This residential land, zoned R2, is an opportunity for development in the historic Island View neighborhood. The lot is sold together with 3059 Sheridan, totaling 6,625 square feet. The location offers proximity to West Village shops, restaurants, and Belle Isle. The Detroit Land Bank Authority (DLBA) seeks proposals for small- to medium-scale infill development to increase housing supply and restore the urban fabric, density, and walkability. Interested buyers should consult proposal guidelines for new build opportunities and review relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. The Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property, which may be incompatible with tax abatement otherwise available. 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. The lot size is 0.08 acres.