Opportunity Zones News

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Opportunity Zone Firms Combining Cryptocurrency, Blockchain, and OZs

Will the Opportunity Zone tax incentive be extended? Congressmen Tim Burchett (R-TN) and Henry Cuellar (D-TX) hope so, and early this year co-sponsored and introduced the Opportunity Zone Extension Act of 2021. To promote the bill and announce the rest of his economic development initiative, Rep. Burchett hosted a roundtable event and press conference earlier this week. The event was held inside the recently renovated Historic Kerns Bakery, located in an Opportunity Zone. During the event, Rep. Burchett credited Opportunity Zones for generating $52 billion in new investment for economically distressed communities.  Recently, several companies have announced initiatives and funds geared towards combining technology and

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Greg Genovese

Post-COVID Opportunity Zone Investing, with Greg Genovese

What can Opportunity Zone investors expect from post-COVID market conditions? And how have Qualified Opportunity Funds evolved since program inception? Greg Genovese is CEO of USG Realty Capital and Investors Choice OZ Fund, a new Qualified Opportunity Fund offered by USG/OZI. Click the play button below to listen to my conversation with Greg. Episode Highlights Post-COVID market conditions and the overall investment environment for Opportunity Zone investors. A breakdown of the four COVID-related investment environments: 1) pre-COVID, 2) COVID, 3) post-COVID recovery, and 4) post-COVID. The evolution of the four types of Opportunity Zone funds available in the OZ marketplace

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Two New Hotels Open Their Doors in Opportunity Zones

This week, two new hotels opened their doors in Opportunity Zones. Hyatt House extended-stay hotel opened for business in downtown Rochester, Minnesota just steps from the Mayo Clinic. The hotel appears to be Rochester’s first Opportunity Zone project and is a part of a multibillion economic development initiative to revitalize the downtown. In a Tucson, Arizona Opportunity Zone, DoubleTree by Hilton is now open to guests. Located next to the Tucson Convention Center, DoubleTree is expected to accommodate the city’s growing visitor demand. Developers expect the hotel to generate an average annual economic impact of $12.1 million. You are reading Jill Homan’s Opportunity Zone Outlook

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Steve Glickman

How OZ Policy May Evolve Under Biden, with Steve Glickman

With Joe Biden in the White House, how might Opportunity Zone policy evolve over the coming years? Steve Glickman recently joined me during a fireside chat at OZ Pitch Day to discuss this topic and more. Steve is founder and CEO of Develop Advisors, a consulting firm for Qualified Opportunity Funds. He previously co-founded the Economic Innovation Group. Click the play button below to listen to the audio recording of my fireside chat with Steve. Or, for the video recording, click here. Episode Highlights The history of Opportunity Zone inception, the role that EIG played, and how the impetus for

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Jon White

Differentiating Approaches and Delivering Value in Opportunity Zones, with Jon White

Why are shovel-ready projects so crucial to a multi-asset Qualified Opportunity Fund strategy? And how can a fund be structured in order to allow investment from self-directed QOFs at the project level? Jon White is president and managing director at Larson Capital, a real estate-focused private equity firm headquartered in St. Louis. Click the play button below to listen to my conversation with Jon. Episode Highlights The types of high net worth clients that Larson Capital Management typically serves, and the Opportunity Zone property types they like best. How acquiring shovel-ready projects and providing the developer with a buyout after

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Chris Cooley

OZworks Group, a Community for OZ Stakeholders, with Chris Cooley

Can an online membership platform bring different Opportunity Zone stakeholders together and help make the OZ initiative a bigger success? Chris Cooley is director and lead connector at OZworks Group. He has extensive experience consulting in the collaborative workspace industry, both nationally and internationally. Click the play button below to listen to my conversation with Chris. Episode Highlights The three main benefits of OZworks Group: 1) executing faster; 2) access to resources; and 3) building relationships. The value in bringing together all of the different types of Opportunity Zone stakeholders in one central community. What’s inside OZworks Group, including video

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Dave Kunz

The Three Best Capital Sources for OZ Deals, with Hall Labs

What are the three different classes of investors that are the most likely capital sources for Opportunity Zone funds or deals? And what are some tips for approaching and pitching to them? Dave Kunz is managing partner and general manager of Hall Venture Partners. Will Walker is a private equity veteran and advisor to Hall Labs and HVP. Click the play button below to listen to my conversation with Dave and Will. Episode Highlights The three capital sources that are typically available for Qualified Opportunity Fund issuers and Opportunity Zone deal sponsors who are raising capital: high net worth investors,

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Eric Berman

OZ Investing in Puerto Rican Tourism, with Lifeafar Capital

What are some of the factors that may make Puerto Rico a compelling destination for Opportunity Zone investment, particularly in a post-COVID world? Eric Berman is chief investment officer and Adrian Beales is director of sales at Lifeafar Capital, a boutique private equity real estate firm with two OZ projects in Puerto Rico. Click the play button below to listen to my conversation with Eric and Adrian. Episode Highlights What makes Puerto Rico unique for Opportunity Zone investors. The investment case for Puerto Rico: why Lifeafar Capital thinks Puerto Rico will rebound as a post-COVID tourist destination. Local tax credits

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Peter Truog

The Evolution of the OZ Marketplace, with Peter Truog

How has the Opportunity Zone marketplace evolved over the past 2+ years and how will it continue to evolve going forward? Peter Truog is founder of The Opportunity Exchange, a marketplace that connects impactful Opportunity Zone projects to capital sources. The Opportunity Exchange is a key partner in OZ Pitch Day. Click the play button below to listen to my conversation with Peter. Episode Highlights How the Opportunity Zone marketplace has evolved over the past couple of years. The many ways in which The Opportunity Exchange supports communities and facilitates the OZ marketplace. The evolution of how communities are approaching

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Clark Spencer

Creating Impact with Essential Housing in Opportunity Zones, with Clark Spencer

After raising over $200 million for Qualified Opportunity Zone investment, how is one OZ fund creating impact with essential housing? Clark Spencer is senior vice president at Grubb Properties, a vertically integrated real estate operating company founded in 1963. Click the play button below to listen to my conversation with Clark. Episode Highlights How Grubb Properties approaches Opportunity Zone investing. Essential housing as multifamily development for residents making between 60-140% of area median income, and how it differs from workforce housing. The Congressional intent of the Opportunity Zone initiative to produce economic impact for the residents of the areas that

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