The redevelopment of Odd Fellows Hall at 333 Water Street in downtown Augusta, ME is believed to be the first opportunity zone project in the United States. According to Mainebiz’s correspondence with Jason Richardson, director of research and evaluation for the National Community Reinvestment Coalition: “We have heard about people getting the funds set up,
Opportunity Zones News
Property developer and asset management firm Sound West Group has announced the launch of Sound West Realty Capital, an investment firm focused on qualified opportunity zone funds. Their first program — Sound West OZ Fund I — will be available for investment in September 2018. That fund will be a multi-class project in the greater
RXR Realty is raising $500 million for an the RXR Realty Opportunity Zone Fund, which will invest in residential, retail, commercial, and mixed-use properties in and around New York City. Included in the plans are a $170 million development in downtown New Rochelle with 354 residential units and 13,000 square feet of retail space; an
Public sector publication Route Fifty recently spent time in Birmingham and Huntsville, in an attempt to figure out if the new opportunity zones program can revitalize these struggling communities. Local leaders in these two cities see both promise of investment and risks of resident displacement. In Birmingham’s Woodlawn neighborhood, nonprofit Woodlawn Foundation worked behind the
Virtua Partners is one of the first to offer a qualified opportunity fund. The Phoenix-based private equity firm known for commercial real estate investing is raising $200 million for the Virtua Opportunity Zone Fund I, which will invest in three Phoenix-area projects in low-income communities. The fund will have a $50,000 investment minimum, and may
I just listened to Meb Faber’s podcast interview with Steve Glickman, CEO and co-founder of the Economic Innovation Group. At one point toward the end of the show, Steve refers to opportunity zone investing as having the potential to be “the biggest economic development program in U.S. history.” He later added, “It will move 30
OpportunityDb.com provides world-class tools, education, and analysis to help interested parties discover opportunities in the federal Opportunity Zones program.