$50,000

The DLBA is seeking proposals for the renovation and reuse of this multi family home situated along one of Detroit’s well-traveled corridors, 8788 Dexter Avenue offers a location rich in convenience, accessibility, and neighborhood character, this property is ideal for a buyer ready to take on a renovation project and bring it back into productive use. Interested buyers should submit a complete proposal outlining the intended use, renovation scope, project budget, timeline, proof of funds, and relevant prior experience. All proposals will be reviewed competitively based on purchase price, project feasibility, financial capacity, development experience, and neighborhood benefit. Please note that the DLBA is entitled to a tax capture for the five tax years following the transfer of ownership. This tax capture may be incompatible with certain tax abatements that may otherwise be available to the selected purchaser. The DLBA will review waiver requests on a case-by-case basis and may require a payment in lieu of taxes. Any payment will be determined after review of the development pro forma and the impact of any tax abatement on the project financing.