5500 Talbot Street, Hamtramck, MI 48212

Property Description

This property is in a 3 lot bundle with 5506 and 5510 Talbot. All Totaling 10,373 sqft. Not sold separately. Lots zoned R2.The DLBA is seeking proposals 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 DLBA 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. All offers must be supported by Proof of Funds (funds should meet or exceed development costs). Note that 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 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. See attached documents for DLBA requirements and offer submission info. BATVAI

Listing Status:

Active

Date Added:

August 27, 2024 at 05:00AM

Listing Office:

RCH Brokerage Legacy Inc : 248-440-2268

Listing Agent:

Leonard Pickett : 313-510-7887

MLS ID:

60334888

Location

• Road/Access: Paved
• Originating MLS: MiRealSource
• School District: Hamtramck Public Schools
• County: Wayne

Lot

• Zoning: S TALBOT 43 THE J L HUDSON CO L32 P38 PLATSW C R 13/213 20 IRREG

Utilities

• Water: Public

Financial

• Source: MiRealSource

This listing courtesy of Leonard Pickett, RCH Brokerage Legacy Inc