Crain's reports that a new program by the Detroit Land Bank Authority has dramatically increased sales of vacant lots in Detroit from 300 or so a year to more than 2000 since June 2014. The program allows neighbors to find their addresses online at the Land Bank's website and buy side lots adjoining their properties for just $100. Like Amazon, the site takes plastic, so you could own land in Detroit for the price of a midrange car stereo. Or about half the price of the mower you'd need to maintain it.
In addition to the side lot website, the Land Bank also hosts a summer fair and a winter fair at area high schools where buyers can walk out, deeds in hand. There should be plenty of inventory to choose from, too—last year, Detroit City council authorized the transfer of roughly 10,000 city-owned lots to the Land Bank.
·Detroit Land Bank program boosts vacant lot sales [Crain's Detroit Business]
·Side Lot Sales [Detroit Land Bank Authority]
·Detroit revs up campaign to sell next-door lots for $100 [Detroit Free Press]
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