278 Belmont Street
Detroit, MI 48202

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Description

This property is listed in a bundle with the following four contiguous parcels and must be sold together: 278 Belmont, 288 Belmont, 296 Belmont, and 302 Belmont. These must be purchased together and cannot be split. Zoned residential, the property offers excellent potential for a new-build/infill development opportunity. How to Apply: Interestedbuyers must submit aproposal that includes: 1. Project Proposal (intended use of structure + timeline) 2.Proof of Funds (bankstatement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof ofPrevious Projects:(include addresses and photos). The DLBA is seeking proposals for small- to medium-scaleinfill developmentto increase housing supply, restore the urban fabric, and improve density and walkability.Interested buyersshould consult the proposal guidelines for new build opportunities. The DLBA alsorecommends reviewingrelevant Neighborhood Framework Plans from the City of Detroit's Planning andDevelopment Department foradditional context about the neighborhood. Please note that the DLBA is entitledto a tax capture for the 5 taxyears subsequent to transferring ownership of the property. The tax capture maybe incompatible with taxabatement that are otherwise available to the selected purchaser. DLBA will reviewrequests to waive its taxcapture rights and may require a payment in lieu of taxes to approve such requests.The payment will bedetermined upon reviewing the development proforma and effect of any tax abatement onthe purchase anddevelopment financing.

Features

• Property Type: Residential Lots & Land
• Sub Type: Residential Lots & Land
• Listing Status: Active
• County/Area: Wayne County
• Zip Code: 48202
• School District: Detroit
• Lot Size: 5663 sq ft lot
• Directions: North on John R Street to Belmont Street
• List Price Acre: 269230.77
• Lot Size Area: 0.13
• Lot Size Square Feet: 5662.8
• Lot Size Units: Acres
• MLS Area Major: Wayne County - 100
• MLS Area Minor: Wayne County - 100
• Main Type: Land
• Parcel Number: W01I003234S
• Street Type: Paved
• Tax Legal Description: S BELMONT W 45 FT 46 MOORE, HODGES & WARRENS L14 P13 PLATS, W C R 1/126 45 X 128