New Residential, Multi-family Property Available for Development

Michigan Department of Labor and Economic Opportunity sent this bulletin at 07/01/2022 01:38 PM EDT

New Residential, Multi-family Property Available for Development

The State Land Bank Authority (SLBA) is accepting applications from developers who have a vision for the property located on 1647 N 24th St, Saginaw in Buena Vista Township.

“The State Land Bank Authority has a unique opportunity to spark significant economic growth by redeveloping land to productive use,” said Emily Doerr, Executive Director of the SLBA. “We’re excited to promote, revitalize and transform this property and all other parcels in our inventory into future assets for the community and for our state as a whole.”

Located within the Saginaw School District, the property is a triple lot and zoned for residential, multifamily use with a third of an acre of space and easy access to I-75 and I-675. Crow Island State Game Area, a wildlife refuge and marshland, is nearby and offers seasonal hunting, fishing and trails. Just a short drive away, Eastern Michigan's Bay-Zil Rail Trail is lined with trees and picturesque farmland. This property offers unique value for the right developer.

Interested buyers are encouraged review valuation guidelines for assistance in submitting a reasonable offer. Offers can be submitted on the SLBA website using the “State Land Bank Properties” link on the homepage. With more than 2,600 properties available for purchase statewide through the SLBA, developers are also encouraged to explore the property search feature and apply for State Land Bank owned property that best meets their needs.

Through collaboration with local communities, county land banks and other state agencies, the SLBA serves as a proactive, problem-solving partner to catalyze development across Michigan. Housed within the Michigan Department of Labor and Economic Opportunity (LEO), the SLBA collaborates closely with the department in their efforts to build vibrant communities and create affordable housing.

Since 2010, the SLBA has demolished 3,362 blighted structures and returned 2,480 properties to productive use. They continue to be laser-focused on promoting and supporting land bank operations at the county and local levels.

To learn more about SLBA's efforts to improve communities across the state, visit Michigan.gov/LandBank. 

The mission of the State Land Bank is to create positive economic impact to Michigan communities by recycling land to productive use.

Michigan.gov/LandBank

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