555 Smith Street Detroit, MI 48202

Eleven contiguous residential parcels are available in Detroit's North End. The properties, located on Smith Street, are zoned residential and offer potential for new-build or infill development. Interested buyers must submit a proposal that includes a project proposal with intended use and timeline, proof of funds, scope of work with 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. 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 neighborhood context. The DLBA is entitled to tax capture for the 5 tax years after property ownership transfer. This tax capture may not be compatible with other tax abatements. 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 will be determined upon reviewing the development pro forma and the effect of any tax abatement on the purchase and development financing. The total lot size is 0.1 acres.