45 e euclid, detroit, MI 48202

Phenomenal North End development opportunity with over 25,000+ square feet of vacant land, zoned R3 and right across from the Detroit People's Food Co-Op. The desired development the DLBA is requesting is townhomes, duplex or fourplex residential structures; or, a multifamily building. Lots included in the sale are 51, 57, 63, 71 & 77 E. Euclid (Cannot be sold separately). BUILDING SHOULD DEFINE SPACE IN MEANINGFUL WAY. BUILDING SHOULD BE DESIGNED TO COMPLEMENT COMMUNITY.PROVIDE A DIVERSE RESIDENTIAL STOCK AND DENSITY AT A VARIETY OF PROCEDURE OF PRICES POINTS, OWNERSHIP TYPES(I.E.RENT,OWN),HOUSING TYPES. DENSITIES SHALL SUPPORT OPPORTUNITIES FOR NEIGHBORHOOD COMMERICAL INVESTMENTS & JOBS CREATION, STIMULATING GROWTH IN LOCAL ECONOMY. 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 & MAY REQUIRE A PAYMENT IN LIEU OF TAXES TO APPROVE SUCH REQUESTS.THE PAYMENT WILL BE DETERMINED UPON REVIEWING THE DEVELOPMENT PROFORMA & EFFECT OF ANY TAX ABATEMENT ON THE PURCHASE AND DEVELOPMENT FINANCING.SEE ADDITIONAL ATTACHED DOCS.

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All information provided is deemed reliable but is not guaranteed and should be independently verified. Participants are required to indicate on their websites that the information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing By: Natasha Richards of Bellabay Realty Tri Counties

This listing last updated: Fri, June 14, 2024 at 12:39:17 PM EDT

MIRealSource Listing Data Last Updated On Saturday, July 6 2024 at 9:45am