RiversEdge Featured Property

15 Acre Opportunity Zone RiverFront Property Available in Beautiful Bay City, MI for $99,999!

Development of Property is Required

 

Looking East

 

 

 

 

 

 

 

 

 

  

 
 

ARC GIS/ESRI Bay County Aerial 2010.  Exact size and shape available below in ALTA pdf.

PROPERTY DOCUMENTATION

  RiversEdge Surath Site.pdf

  Preliminary Soil Evaluation - Former Surath Property 15 OCT '01.pdf

  Final PDF Phase I ESA.pdf

  Wade Trim ALTA.pdf

  Wade Trim Boundary Survey.pdf

  MDEQ Brownfield Redevelopment Assessment Report 27 SEPT '18.pdf

This is a unique opportunity to acquire up to 15.93 acres, of one of the Midwest’s best, undeveloped tracts of land along the picturesque Saginaw River. The Saginaw River and the city’s major thoroughfares bound this amazing property, in Bay City, Michigan. There are no comparable parcels like this available in the region. This property offers buyers an opportunity to design and develop their own vision including a mixed-use development.

OPPORTUNITY ZONES Provide an Investment Boost for Buyers at this Riverfront Property: 


In addition, this property is certified as a federal “Opportunity Zone” under the Tax Cuts and Jobs Act of 2017. Opportunity Zones provide substantial incentives to spur private investment in development and job creation. The benefit to buyers is preferential tax treatment for private investment in development.
 
The Internal Revenue Service has published a detailed list of Frequently Asked Questions about the Opportunity Zone program. 
According to Treasury.gov: 

“Qualified Opportunity Zones retain this designation for 10 years. Investors can defer tax on any prior gains until no later than December 31, 2026, so long as the gain is reinvested in a Qualified Opportunity Fund, an investment vehicle organized to make investments in Qualified Opportunity Zones. In addition, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold.” Rules and regulations regarding the Opportunity Zone program can be found at https://www.irs.gov/pub/irs-drop/rp-18-16.pdf.

 

 PROPERTY DETAILS

Property Type

Riverfront, vacant, and undeveloped

Site Size

15.93 acres

Location

1001 E. Ohio Street

Liberty Bridge Row

Marina Park Drive

Marina Park Drive

City

Bay City

County

Bay

State

Michigan

Utilities

All public utilities available at the site

Zoning

Waterfront District (WF). Offers a variety of commercial, office, civic, cultural, entertainment, recreational, residential, and tourism-oriented uses in a compact, high intensity urban downtown environment.

Topography

Flat

Parcel Property Nos.

09-160-021-151-002-00

09-160-021-151-003-00

09-160-021-151-004-00

09-160-021-151-005-00

Distance from Interstate

Two miles from I-75/M-84 (Exit 160),

I-75/M-25 (Exit 162A), and I-75/M-13 (Exit 164).

Offering Price

Negotiable, depending on development

Delivery Condition

As-is

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

Site is a brownfield and is not considered shovel ready. 

DISCLAIMER: Property sold as is where is, with all faults with no representations or warranties.  Development on the site is required.  RiversEdge Dev. Corp.'s responsibility is to identify a capable developer that will bring new tax base, construction, jobs, and/or housing to this site.  As public-private partnerships both RiversEdge Dev. Corp. and Bay Future, Inc. offer confidentiality. Price of option assignment is dependent upon development offered.


 

The RiversEdge Development Corporation is a non-profit 501 (c)4, public-private corporation formed by regional leaders (who made private contributions of both time and capital) and the City of Bay City to realize a shared vision of economic activity on this centerpiece downtown waterfront property.  The RDC has an assignable purchase option on the site.  This option may be assigned in whole or in part.

 

For additional information or questions, please contact Bay Future, Inc.:

 Trevor M. Keyes

President & CEO, Bay Future, Inc.

721 Washington Ave., Suite 309, Bay City, MI 48708

P: 989.892.1400