3223 MELDRUM Street Detroit, MI 48207

Listing agency Bellabay Realty Tri Counties n***@comcast.net Show Phone

Listed by Natasha C Richards · License #6502385914 Show Phone

Added: Sep 6, 2024 Updated: May 13 at 3:30AM Checked: Jul 22 at 10:06PM

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MLS# 20240058649

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Investment Insights

Based on property information with market context.

This Islandview infill lot, offered by the Detroit Land Bank Authority, measures 30x140. The Detroit Land Bank Authority is seeking proposals for small- to medium-scale infill development aimed at increasing housing supply and restoring the urban fabric, density, and walkability. Interested buyers are advised to 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. Please note that the Detroit Land Bank Authority 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 abatements and/or lot combinations that are otherwise available to the selected purchaser. The Detroit Land Bank Authority 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 abatements on the purchase and development financing. Please refer to the Detroit Land Bank Authority proposal guidelines.

Key Highlights

• Infill lot (30x140) in Islandview, Detroit, suitable for small- to medium‑scale development
• Opportunity to increase housing supply and restore urban fabric
• Located in an area where the Detroit Land Bank Authority (DLBA) is seeking proposals for new build opportunities

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FAQs

What type of property is this?

Residential land & home lot - Islandview infill lot for small- to medium-scale development.

Where is this residential land & home lot located?

The property is located at 3223 MELDRUM Street Detroit, MI.

What is the asking price?

The asking price for this property is Off market.

What are key features of this property?

This property features: Infill lot (30x140) in Islandview, Detroit, suitable for small- to medium‑scale development; Opportunity to increase housing supply and restore urban fabric; Located in an area where the Detroit Land Bank Authority (DLBA) is seeking proposals for new build opportunities