302 Belmont Street, Detroit, MI 48202

This offering presents an opportunity to acquire four connected vacant land parcels in Detroit's North End. The property consists of four contiguous parcels: 278 Belmont, 288 Belmont, 296 Belmont, and 302 Belmont, which must be purchased together as they cannot be split. Zoned residential, the combined 0.09-acre property provides potential for a new-build or infill development. Interested buyers are required to submit a proposal that includes a project proposal outlining the intended use and timeline, proof of funds, a scope of work detailing renovation costs, and proof of previous projects with addresses and photos. The Detroit Land Bank Authority (DLBA) seeks proposals for small- to medium-scale infill development aimed at increasing housing supply, restoring the urban fabric, and improving density and walkability. Buyers should consult 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 DLBA is entitled to tax capture for the five tax years following property ownership transfer, which may be incompatible with other available tax abatements. Requests to waive tax capture rights will be reviewed, and a payment in lieu of taxes may be required upon reviewing the development pro forma and the effect of any tax abatement on financing.