555 Smith St Detroit, MI 48202

Eleven contiguous vacant land parcels are available for purchase as a bundle in Detroit's North End. The properties, zoned residential, are located at 525 Smith, 531 Smith, 537 Smith, 543 Smith, 549 Smith, 555 Smith, 561 Smith, 567 Smith, 573 Smith, 579 Smith, and 585 Smith. The combined lot size is 0.1 acres. The property offers potential for a new-build or infill development opportunity. Interested buyers must submit a proposal that includes a project proposal with intended use and timeline, proof of funds, scope of work with a breakdown of renovation costs, and proof of previous projects with addresses and photos. The Detroit Land Bank Authority (DLBA) is seeking 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 context about the neighborhood. The DLBA is entitled to tax capture for the 5 tax years subsequent to transferring ownership of the property and 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 pro forma and the effect of any tax abatement on the purchase and development financing.