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20923972

227 Watson St, Detroit, MI 48201

BP
MI MI 6502357630
Summit Commercial LLC
Summit Commercial LLC
Listed by Summit Commercial LLC
$375,000
541 days on market
Updated 106 days ago
Opportunity zone

Prime Brush Park Development Opportunity - 227 & 241 Watson

Details
Property Type Land
Sub Type Commercial, Residential
Broker Co-Op Yes
Lot Size (SqFt) 14,985
Zoning PD
Ownership City of Detroit

227 & 241 Watson | 14,985 SF

Marketing description

DESIRED DEVELOPMENT PROGRAM

The City seeks a residential development designed in conformance with the Brush Park Form Based Code. Residential proposals may include units for rent or for sale. A minimum of 20% of rental units should be affordable to households earning up to 80% of the Area Median Income.

The site is currently zoned PD Planned Development, however it benefits from its location in the Form Based Code district created specifically for Brush Park to provide residents and developers with a predictable vision of the built environment. All plans should be designed to be consistent with this new code, as provided in this link.

The development site is also located within the boundaries of the local historic district. Development plans will require approval from the Historic District Commission. Respondents will be responsible for conducting their own due diligence on what additional zoning and permitting approvals, if any, may be required.

Key Dates

Marketing Open – Monday, December 9, 2024

Bids Due – Friday, February 7, 2025

Response Packets

Please include the following in your bid request:

1. Letter of Intent: Narrative of respondent’s approach to the development of the site, including proposed programming, unit mix and affordability, and any notable design features.

2. Site Design: Conceptual site plan and precedent images and/or renderings.

3. Financials: Include bid price, sources and uses, and a 10-year pro forma. List specific public sources and incentives and identify any anticipated funding partners.

4. Timeline: Project completion schedule, including public approvals, land sale and financing closings, and construction start and completion.

5. Team and Experience: History and overview of the respondent and team members, including descriptions of other residential or mixed-use developments completed.

Listing Contacts

BP
MI MI 6502357630
Summit Commercial LLC
Summit Commercial LLC
Listed by Summit Commercial LLC

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Additional Information

Name
Bunia Parker
License
MI 6502357630
Brokerage
Summit Commercial
Brokerage Phone
3138721300
Title
Principal Associate Broker
Brokerage Address
1407 Randolph Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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