5709 Vermont St Detroit, MI 48208

This vacant land presents a residential infill opportunity near Downtown Detroit, the Motown Museum, Henry Ford Hospital, Corktown, Midtown, and Wayne State University. It is also located close to future major developing areas. The Detroit Land Bank Authority (DLBA) seeks proposals for small- to medium-scale infill development aimed at increasing housing supply and restoring the urban fabric, density, and walkability. Interested buyers should consult the DLBA's 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 property has a lot size of 0.19 acres. The DLBA is entitled to a tax capture for the 5 tax years following the property ownership transfer, which may be incompatible with tax abatements and/or lot combinations. 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 proforma and the effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.