OZ Pitch Day - June 13, 2024
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OZ Pitch Day - June 13, 2024
Census Tract 517, North Plainfield, New Jersey
Census Tract 517 is a Low-Income CommunityOpportunity Zone located in North Plainfield, New Jersey.
This 0.3 square milecensus tract has a population of approximately 4,800and is one of 3 Opportunity Zones in Somerset County.
The adjacent map shows the location of this Opportunity Zone in New Jersey.
Census Tract 517 Demographics
The charts below illustrate how this Opportunity Zone compares to the broader city, county, and state on various socioeconomic indicators:
Median Household Income
$69K |
This Opportunity Zone has a median household incomeof approximately $69,000, which is 20% lowerthan the median household income for the state of New Jersey of $86,000.
Poverty Rate
18% |
The percentage of households below the poverty line in this Opportunity Zone is 18%, which is 9% higherthan the rate for the state of New Jersey of 9.2%.
Median Home Value
$246K |
This Opportunity Zone has a median home valueof approximately $250,000, which is 29% lowerthan the median home value for the state of New Jersey of $350,000.
Education
75% |
This Opportunity Zone has a percentage of population with high school diplomaof approximately 75%, which is 15% lowerthan the rate for the state of New Jersey of 90%.
Median Age
36 |
This Opportunity Zone has a median ageof approximately 36, which is 10% 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 |