688 Field Street Detroit, MI 48214

This land offering in Detroit, MI, is comprised of three parcels (688, 698 & 704 Field St) that must be sold together as a bundle package for $25,000. Zoned for residential use, the Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development. The goal is to increase housing supply, restore the urban fabric, and enhance density and walkability in the area. Interested buyers should consult the proposal guidelines for new build opportunities. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. Please note that the DLBA 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 abatement that are otherwise available to the selected purchaser. 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 effect of any tax abatement on the purchase and development financing.