Could it finally be Lee Plaza’s time for redevelopment? Plans have been introduced to redevelop the 15-story building west of New Center in recent years, only to fall short in funding.

A new request for proposals (RFP) has just been released for redevelopment of the long-vacant building, plus the surrounding land. In total, it’s 1.68 acres about one mile west of the Fisher Building on West Grand Boulevard. The building is on the National Register of Historic Places and qualifies for historic tax credits. The asking price? $350,000.

The RFP is presenting a partnership between the Detroit Building Authority (DBA), the City of Detroit Housing & Revitalization Department (HRD). Specifically, “HRD seeks to partner with a developer with a proven track record of development. The successful proposer will have the experience and a development plan adequate to rehabilitate the historic building and other properties included in this offering into a mixed income building, for sale or for rent including affordable housing over 20% and serving 60% AMI.”

The RFP was just released and proposals are due March 1. The city expects the development (rehab plus possible new construction) to take two to five years to complete.

This comes at a time when development seems to be making its way west down the Boulevard. Many more properties in nearby La Salle Gardens have been rehabbed and sold recently. The nearby Motown Museum is undergoing an extensive renovation. New Center is currently booming with construction.

The full RFP can be read here.