2525 MELDRUM Street, Detroit, MI 48207

This residential vacant lot is located in the Islandview neighborhood of Detroit, Michigan, placing it within minutes of Downtown Detroit. The Detroit Land Bank is offering this property and seeking proposals to support the activation and stewardship of vacant land sites. Potential uses include urban agriculture, gardening, or beautification, whether for profit or community activation. Interested buyers should consult the proposal guidelines for land-based sites and the Guide to Plot Plan, Site Design, and Maintenance. It is also recommended to review relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. The lot size is approximately 0.09 acres. Please note that the Detroit Land Bank 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. The Detroit Land Bank 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.