OZ Pitch Day - June 13, 2024
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OZ Pitch Day - June 13, 2024
Census Tract 37, Grand Rapids, Michigan
Census Tract 37 is a Low-Income CommunityOpportunity Zone located in Grand Rapids, Michigan.
This 0.6 square milecensus tract has a population of approximately 4,500and is one of 10 Opportunity Zones in Kent County.
The adjacent map shows the location of this Opportunity Zone in Michigan.
Census Tract 37 Demographics
The charts below illustrate how this Opportunity Zone compares to the broader city, county, and state on various socioeconomic indicators:
Median Household Income
$37K |
This Opportunity Zone has a median household incomeof approximately $37,000, which is 38% lowerthan the median household income for the state of Michigan of $60,000.
Poverty Rate
26% |
The percentage of households below the poverty line in this Opportunity Zone is 26%, which is 13% higherthan the rate for the state of Michigan of 13%.
Median Home Value
$89K |
This Opportunity Zone has a median home valueof approximately $89,000, which is 48% lowerthan the median home value for the state of Michigan of $170,000.
Education
73% |
This Opportunity Zone has a percentage of population with high school diplomaof approximately 73%, which is 18% lowerthan the rate for the state of Michigan of 91%.
Median Age
30 |
This Opportunity Zone has a median ageof approximately 30, which is 25% lowerthan the median age for the state of Michigan of 40.
Michigan OZ Funds
There are 6QOZ Fundsin the OpportunityDb database with an investment objective that specifically identify Michiganas a target market. Additional OZ funds may also invest in Michigan; see a complete list of Opportunity Zone Funds here.
| Fund Name | Asset Classes | Property Types | Fund Size |
|---|---|---|---|
| Accredited Capital | Real Estate | Multi-Family Housing, Residential, Single-Family Housing | $25M |
| Beacon Rose Opportunity Zone Fund | Real Estate | Industrial, Mixed-Use, Multi-Family Housing, Residential, Student Housing | $100M |
| Community Outcome Fund | Business, Real Estate | Commercial, Infrastructure, Mixed-Use, Residential | $500M |
| Greatwater Opportunity Capital Detroit Opportunity Fund | Real Estate | Commercial, Mixed-Use, Multi-Family Housing, Residential | $100M |
| Urban Array Opportunity Fund | Business, Real Estate | Commercial, Office, Residential | $5M |
| Wefunder Detroit Opportunity Fund | Business | $100K |