Why Eliminating the Detroit Land Bank Would Create More Chaos Than Benefit

Описание: Eddy breaks down the growing push to reform the Detroit Land Bank Authority—Detroit’s single largest landowner—and what those changes could mean for residents, local builders, and investors. Eddy reacts to City Council member Mary Waters’ call for a more balanced governance structure, where board appointments are split between the Mayor’s Office and City Council, and explains why eliminating the Land Bank entirely could create chaos in title, inventory, and disposition.

Drawing from his own firsthand experience buying Land Bank properties, Eddy highlights the real-world challenges buyers face: tight rehab timelines, underestimated rehab costs, surprise infrastructure issues like cut water lines, and jobsite theft during renovations. He also discusses the frustrations around properties the Land Bank owns but doesn’t list publicly—potentially limiting opportunities for neighborhood residents and smaller local developers.

To ground the conversation in data, Eddy walks through the Detroit Land Bank website, reviews key program metrics (auction closings, vacant lots sold, compliance rates, and Rehabbed & Ready sales), and tours current listings—from $1,000 auction rehabs to move-in ready homes priced far below the national median. He closes with a clear takeaway: smart reform can strengthen the Land Bank’s impact without tearing down the infrastructure Detroit needs to keep neighborhood redevelopment moving forward.

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Media Credits
Local 4 Detroit -    • Detroit Land Bank reforms gain support wit...  

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