1670 Lee Place

Description

Development Opportunity in the Virginia Park Community. Welcome to 1670 Lee Place, Detroit, MI, a Detroit Land Bank Authority property located in the heart of the Virginia Park Community, an area experiencing active revitalization and increased neighborhood investment. The property is within walking distance to the well-known restaurants, cafés, and is conveniently located near Henry Ford Hospital, New Center, and surrounding development projects currently underway. Residents also benefit from access to nearby bike lanes, neighborhood parks, and the Joseph Williams Recreation Center. This property presents an excellent opportunity for an investor, rehab buyer, or owner-occupant looking to restore and personalize a home in a historic and evolving Detroit neighborhood. Ideal for renovation, redevelopment, or long-term ownership. A strong opportunity for buyers seeking to contribute to community growth while building value in a prime location. 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.