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2 Saint Jean
Detroit, MI 48214
Rare Waterfront Development Opportunity · Land For Sale
·
9.36 AC
INVESTMENT HIGHLIGHTS
- Rare Waterfront Development Opportunity
- Comes with Canal and Riverfront Frontage
EXECUTIVE SUMMARY
• Marketing Open — March 1, 2023
Response Packets
Please include the following in your bid request:
-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.
-Site Design: Conceptual site plan and renderings and/or precedent images.
- 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.
- Timeline: Project completion schedule, including public approvals, land sale and financing closings, and construction start and completion.
- Team and Experience: History and overview of the Respondent and team members, including descriptions of other residential or mixed-use developments completed.
PROPERTY FACTS Under Contract
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 9.36 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Commercial | Parcel Number | 21-000059 |
| Zoning | PD | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 9.36 AC |
| Opportunity Zone |
Yes |
| Zoning | PD |
| Parcel Number | 21-000059 |
1 LOT AVAILABLE
Lot
| Price | $4,950,000 | Lot Size | 9.36 AC |
| Price Per AC | $528,846.15 |
| Price | $4,950,000 |
| Price Per AC | $528,846.15 |
| Lot Size | 9.36 AC |
Approximately 9.36 AC (407,575sf) (NOTE: This is inclusive of approximately 2 acres in the Canal)
DESCRIPTION
Property Features: • Prime waterfront acreage located on the Detroit River • Over 1000 feet of Canal Frontage and over 350 feet of Detroit River Frontage • Located Directly Across from Belle Isle • Immediately adjacent to Riverside Marina, Safe Harbor Marina, Bayview Yacht Club and Morgan Waterfront Estates. • Close Proximity to Roostertail and Sinbads Restaurant • 10 Minute Drive and short boat ride from Downtown Detroit • Immediately adjacent to a public boat launch PROPERTY OVERVIEW In partnership with the Detroit Building Authority (DBA), the City of Detroit’s Housing and Revitalization Department (HRD) and Planning and Development Department (PDD) seek proposals from qualified entities to propose a development for this prime Waterfront location. The development site is located at 2 Saint Jean, directly across from Belle Isle and immediately adjacent to Riverside Marina, Safe Harbor Marina, Bayview Yacht Club, and Morgan Waterfront Estates. The site is approximately 407,575 square feet, or 9.36 acres. This acreage is inclusive of approximately 2 acres of property located in the Canal. The City of Detroit seeks proposals for new development that will build upon the inherent strengths of this rare location and properly unlock its potential.
