A real estate firm with ties to the Ambassador Bridge is offering the City of Detroit an alternate proposal for hundreds of parcels of land needed to build a new border crossing.
Dan Stamper, key executive of Real Estate Purchasing LLC, submitted a proposal to the city on Monday that would see the group purchase 301 parcels of land for $1.5 million. It comes the same day city council is scheduled to discuss whether to transfer the properties to the Michigan Land Bank.
In a news release, Stamper, who is also president of the Ambassador Bridge Company, says the firm would also offer an additional $1-million to the city as a start-up fund to spur redevelopment. As part of the agreement, Real Estate Purchasing would transfer the properties back to the city as redevelopment takes place.
Detroit emergency manager Kevyn Orr is proposing to transfer the 301 parcels to the Michigan Land Bank in exchange for $1.4 million from the Canadian government.
The properties on the city’s southwest side are where the Detroit River International Crossing would connect Windsor with Michigan.
