***NEW BUILD OPPORTUNITY IN POPULAR VIRGINIA PARK*** This vacant parcel is in a prime area for new builds, and includes 1950 Blaine and 1954 Blaine. The property is located in the Virginia Park neighborhood and offers an opportunity for new construction and infill development. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.
