227 Belmont St, Detroit, Michigan, United States | Residential Land For Sale at GLOBAL LISTINGS

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Residential Land For Sale

$19,220

227 Belmont St
Detroit, Michigan, United States

Listed By: Realtyww Info

Listed On: 08/28/2024

Listing ID: GL11400983 View More Details

Description

Welcome to the latest offering from the Detroit Land Bank Authority. 3 buildable lots in the Greater Northend Gateway community. Sale includes, 219 and 231 Belmont for approximately 13, 000 sqft of buildable area. This area is subject to guidelines of the neighborhood study to help bolster inclusive projects and diverse community participation..The DLBA is seeking proposals that for small- to medium-scale infill development with the goal of increasing housing supply and restoring the urban fabric, as well as density and walkability. Interested buyers should consult our proposal guidelines for new build opportunities. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroits Planning and Development Department for additional context about the neighborhood. Please note that the Detroit Land bank Authority 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 abatements and/or lot combinations 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 abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

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Listed by: Gene Kelley