578 Westminster Street Detroit, MI 48202

Located in Detroit's popular North End neighborhood, this offering includes five bundled vacant lots: 570, 562, 552, and 542 Westminster, along with the subject property. The combined area of the five lots totals 28,750 square feet. The lots are not available for individual purchase and are zoned R3. The Detroit Land Bank Authority (DLBA) seeks proposals for small- to medium-scale infill development to increase housing supply, restore the urban fabric, and enhance 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 Detroit Land Bank Authority is entitled to a tax capture for the five tax years following the property ownership transfer. This tax capture may be incompatible with other available tax abatements. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes. The payment amount will be determined after reviewing the development proforma and the effect of any tax abatement on the purchase and development financing. The lot size is approximately 0.13 acres.