The State Land Bank Authority today announced it will allow qualified developers to have the first chance at being considered to undertake a variety of small- and large-scale development projects throughout the state.
The opportunity for real estate developers to be qualified, which stems from a process SLBA uses for environmental projects, will allow the SLBA to bring on developers quickly who can handle State and county land bank projects ranging from residential, commercial, and industrial development opportunities.
Such developments may range from one to several homes being constructed on targeted or scattered sites, small to large commercial/industrial developments which may or may not be located on brownfield sites, as well as renewable energy solutions where targeted brownfield sites are being considered for solar development opportunities.
By having developers submit their credentials in advance, the SLBA states it can complete the proper vetting and reference checks. Then, as projects become available, the SLBA will submit those projects to prequalified developers who are ready to make development proposals.
Redevelopment projects support SLBA’s mission to resolve some of the toughest barriers to returning land to productive use, helping to unlock the value of properties, and converting them into assets for community revitalization throughout the state.
“We hope to foster strong relationships that will continue to transform vacant spaces into vibrant places and be economic drivers for our state. We look forward to working with these developers to determine the best path forward for these properties,” says Emily Doerr, executive director of the SLBA.
The SLBA seeks interested developers with a record of success in real estate development, especially those with redevelopment or rehabilitation expertise. Qualified developers must be in good standing with the State of Michigan and submit their response by August 13, 2021.
Proposals should be submitted by email to firstname.lastname@example.org. Respondents are welcome to submit after the initial due date, however, those submissions will be reviewed at the end of each quarter.
To learn more about the Land Bank’s efforts to improve communities across Michigan, visit Michigan.gov/LandBank.