12945 PURITAN Street Detroit, MI 48227

Listing agency RCH Brokerage Legacy Inc l***@rchlegacy.com Show Phone

Listed by Leonard A Pickett III · License #6501306589 Show Phone

Added: Oct 23, 2024 Updated: May 13 at 3:30AM Checked: Jul 22 at 12:06AM

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MLS# 20240080302

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Investment Insights

Based on property information with market context.

This commercial land, zoned B2, is located in Detroit, MI. The Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development aimed at increasing housing supply, restoring the urban fabric, and enhancing density and walkability. Interested buyers should consult DLBA 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. All offers must be supported by Proof of Funds, with funds meeting or exceeding development costs. The DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property, which may be incompatible 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 proforma and the effect of any tax abatement on the purchase and development financing. The lot size is 0.1 acres.

Key Highlights

• B2 Zoning: Ideal for small- to medium‑scale infill development.
• Opportunity to Increase Housing Supply: Contribute to DLBA's goal of increasing housing.
• Potential for Restoring Urban Fabric: Enhances density and walkability in the area.

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FAQs

What type of property is this?

Commercial land - Commercial land available in Detroit, suitable for infill development.

Where is this commercial land located?

The property is located at 12945 PURITAN Street Detroit, MI.

What is the asking price?

The asking price for this property is Off market.

What are key features of this property?

This property features: B2 Zoning: Ideal for small- to medium‑scale infill development.; Opportunity to Increase Housing Supply: Contribute to DLBA's goal of increasing housing.; Potential for Restoring Urban Fabric: Enhances density and walkability in the area.