5092 CHARLES Street, Hamtramck, MI 48212

Listing Description

Welcome to the latest offering from the Detroit land Bank authority. 3 buildable lots in the Buffalo/Charles area, right across the street from a park on the border of Hamtramck. Sale includes 5086 and 5098 charles as well. Over 9000 Sqft of buildable land zoned residential.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 Detroit’s 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.

Source: SparkMLS

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