Residential Land for Sale in Detroit, Michigan

Great opportunity for infill development.Buyer must submit an application to purchase, including construction plans or precedent architectural images of proposed development and financing plan with proof of funds or a pre-approval letter on a new-construction loan.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 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.BATVAI