OZ Pitch Day - June 13, 2024
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OZ Pitch Day - June 13, 2024
Census Tract 1754.02, Passaic, New Jersey
Census Tract 1754.02 is a Low-Income CommunityOpportunity Zone located in Passaic, New Jersey.
This 0.2 square milecensus tract has a population of approximately 4,500and is one of 15 Opportunity Zones in Passaic County.
The adjacent map shows the location of this Opportunity Zone in New Jersey.
Census Tract 1754.02 Demographics
The charts below illustrate how this Opportunity Zone compares to the broader city, county, and state on various socioeconomic indicators:
Median Household Income
$31K |
This Opportunity Zone has a median household incomeof approximately $31,000, which is 64% lowerthan the median household income for the state of New Jersey of $86,000.
Poverty Rate
37% |
The percentage of households below the poverty line in this Opportunity Zone is 37%, which is 28% higherthan the rate for the state of New Jersey of 9.2%.
Median Home Value
$232K |
This Opportunity Zone has a median home valueof approximately $230,000, which is 34% lowerthan the median home value for the state of New Jersey of $350,000.
Education
60% |
This Opportunity Zone has a percentage of population with high school diplomaof approximately 60%, which is 30% lowerthan the rate for the state of New Jersey of 90%.
Median Age
28 |
This Opportunity Zone has a median ageof approximately 28, which is 30% lowerthan the median age for the state of New Jersey of 40.
New Jersey OZ Funds
There are 6QOZ Fundsin the OpportunityDb database with an investment objective that specifically identify New Jerseyas a target market. Additional OZ funds may also invest in New Jersey; see a complete list of Opportunity Zone Funds here.
| Fund Name | Asset Classes | Property Types | Fund Size |
|---|---|---|---|
| Golden Door Asset Management Opportunity Fund | Business | $100M | |
| KindCare Assisted Living | Business, Real Estate | Residential, Senior Housing | $30M |
| Normandy Opportunity Zone Fund LP | Real Estate | Commercial, Industrial, Mixed-Use, Office, Residential | $250M |
| Saxum Opportunity Zone Fund | Real Estate | Industrial, Office, Residential | $100M |
| Shorewood Opportunity Zone Fund | Real Estate | Affordable Housing, Mixed-Use, Residential | $250M |
| Strategic Rivermont OZ Fund, LLC | Real Estate | Commercial, Energy Development, Hotel, Mixed-Use, Residential, Stadiums and Arenas, Student Housing | $100M |