Residential Land For Sale

Picture of Residential Land For Sale in Hamtramck, Michigan, United States

$15,500

5500 Talbot St
Hamtramck, Michigan, United States

Listed By: Realtyww Info

Listed On: 08/29/2024

Listing ID: GL11382814 View More Details

Description

This property is in a 3 lot bundle with 5506 and 5510 Talbot. All Totaling 10, 373 sqft. Not sold separately. Lots zoned R2.The DLBA is seeking proposals 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 DLBA 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. All offers must be supported by Proof of Funds (funds should meet or exceed development costs). Note that the DLBA 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. 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 abatement on the purchase and development financing. See attached documents for DLBA requirements and offer submission info. BATVAI

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Listed by: Leonard Pickett

Source: The World Property Journal

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