2 St, Detroit, MI 48214

This exceptional 9.36-acre waterfront property in Detroit, Michigan, presents a unique development opportunity. Located at 2 St. Jean, this commercially and residentially zoned (PD) land boasts stunning views of Belle Isle and sits adjacent to several marinas and yacht clubs. The site encompasses approximately 407,575 square feet, including roughly 2 acres within the canal. The City of Detroit is seeking proposals for a development that leverages this prime location's potential. While the city is open to various development plans, proposals including residential components should incorporate at least 20% of rental units affordable to households earning up to 80% of the Area Median Income. Prospective developers are responsible for conducting their own due diligence, including investigating necessary zoning and permitting approvals. Construction of a seawall is required, and a development agreement will be negotiated with the city to ensure timely completion. The successful proposal will be selected based on a combination of price and the plan deemed most beneficial to the city. The asking price for this exceptional property is $4,950,000. This is a truly rare opportunity to create a landmark development in a vibrant and rapidly growing area of Detroit. The property is owned by the City of Detroit and located in Wayne County, zip code 48214.