DETROIT – A Detroit developer who had said he wanted to buy and fix up more than 6,000 properties from Wayne County has withdrawn his bid.
Herb Strather and a group of investors made a $3.2 million winning tax auction bid for the "Blight Bundle" properties, but the Wayne County Treasurer's Office on Wednesday said it was withdrawn "following discussions concerning a possible development agreement."
Strather's bid was the only one that satisfied the minimum $500 per parcel price for the more than 6,000 tax-foreclosed properties on the auction block. He is a partner in Detroit Bundle LLC, along with Texas company Eco Solutions. John Page, of Eco Solutions, was the registered bidder. They were required to come up with 10 percent of the $3.1 million price tag within 24 hours and the rest within 14 days.
The mega bundle of properties was the brainchild of Detroit Mayor Mike Duggan and Wayne County Treasurer Raymond Wojtowicz.
"The development of the this package of properties was unique and we appreciate the interest expressed by Eco Solutions, John Page, and Herb Strather," Wojtowicz said in a statement Wednesday. "While we were not able to reach agreement as to a development agreement we do look forward to continued participation by Eco Solutions as we work with Mayor Duggan to address blight in our neighborhoods. Blight elimination is essential to improve conditions in our communities."
There could be another attempted auction or the properties could be moved to the Detroit Land Bank.