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The Detroit Land Bank Authority [1] is a public authority that owns and manages approximately 100,000 parcels of property in the city of Detroit, making it the city's largest landowner. [ 2 ] Occasionally framed as a quasi-governmental entity , the Detroit Land Bank operates a number of programs to reduce the number of Detroit properties that ...
A landlocked parcel is a real estate plot that has no legal access to a public right of way. [1] Generally, a landlocked parcel has less value than a parcel that is not landlocked. [ 2 ] Often, the owner of a landlocked parcel can obtain access to a public roadway by easement .
The city of Detroit plans to sell Lee Plaza to a joint venture that will redevelop the historic building into 180 residential units, and retail. The redevelopment will be a joint effort by Detroit-based Roxbury Group and Ethos Development Partners, who bought the property from the city in 2019 for $350,000.
Here are a couple of top REITs to consider investing in before you go down the path of purchasing your first rental property in 2025. ... on metro areas benefiting from above-average job and ...
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The plan was for 40,000 properties to be taken down to allow for property values to rise and have land for new homes and office space to be built in the city. Poverty and crime continue to impact the city, and the demolition program was created in hopes to improve conditions for the people living in the urban areas of Detroit.
A new study from University of Michigan Poverty Solutions showed that Detroit's Black homeowners gained $2.8 billion in home value during the span from 2014 to 2022.. The net value of these homes ...
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