2546 W Forest Ave, Detroit, MI 48208

Property Description

2546 W. Forest + 2540 W. Forest present a unique opportunity to acquire a structure in need of renovation along with an adjacent vacant lot. The DLBA is seeking a qualified proposal for the rehabilitation of 2546 W. Forest, with 2540 W. Forest to be included as part of the overall site plan and redevelopment approach. Proposals should clearly outline the scope of renovation for the existing structure, the intended use of the additional lot, project costs, timeline, and proof of funds sufficient to support completion. The strongest proposals will demonstrate a feasible redevelopment plan, relevant experience, and a cohesive vision for both parcels that contributes positively to the surrounding neighborhood. 2546 & 2540 W Forest are part of a bundle package and must be sold together for $60,000.00 Please 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.