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Earlier this week, Kingsbarn Capital and Development announced the acquisition of 6.12 acres within a Carson City, Nevada Opportunity Zone. The multifamily development of 140 garden-style apartments is anticipated to start leasing one year after construction start in July.
GRASS Opportunity Zone Fund announced they were open for their first round of Reg A+ funding. GRASS is open to investors of all income and experience levels, with a minimum investment of $1,000. GRASS will focus on two main areas of investment, blockchain SaaS and aviation innovations.
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San Jose, California Opportunity Zones Spur Development
San Jose, California has seen an increase in development, thanks to Opportunity Zones. Currently, San Jose is home to 11 Opportunity Zones across the city, including parts of downtown and the Monterey Corridor industrial district.
Last week, Urban Catalyst announced six projects either in late planning stages or under construction in San Jose. Most notable being their renovation of the former Camera 12 building. Urban Catalyst is also planning to build a hotel near Google’s Downtown West campus, called Keystone, which co-founder Josh Burroughs says will generate at least $1 million annually in tax revenue for the city.
GRASS Opportunity Zone Fund Now Open to Investors
Growth Resources, Assets, Safety & Stability, or “GRASS”, a Qualified Opportunity Fund (QOF) focused on applying cutting-edge technology to complex compliance processes, is now open for their RegA+ funding round. GRASS is open to investors of all income and experience levels, and is the first-to-market RegA+ QOF.
It will combine the QOF structure with IRS designated Qualified Small Business Stock (“QSBS”) structure. The minimum investment is $1,000. GRASS will focus investments in two major areas, including blockchain-based SaaS, and aviation innovations in government and the private sector.
Kingsbarn Capital and Development Acquires Multifamily Development Site in Carson City, Nevada Opportunity Zone
Kingsbarn Capital and Development announced the acquisition of 6.12 acres of land located within a Carson City, Nevada Opportunity Zone. Kingsbarn plans to break ground in July on a multifamily development site which will bring 140 garden-style apartments to the Carson City market. Kingsbarn anticipates the leasing to begin one year after starting construction, and is expecting to reach 95% occupancy by the spring of 2023.
“This is a well-positioned multifamily development in a rapidly growing community where housing is in short supply. The property has great frontage along Little Lane and is only a few blocks from the Nevada State Capitol. We expect this Property to provide stable cash flow to our investors for years to come,” said Kingsbarn CEO Jeff Pori.