There are nearly 9,000 communities designated as Opportunity Zones across the U.S. (Courtesy of Enterprise Community Partners) | Click to view interactive 1. What is the Opportunity Zones program and where does it target? Enacted late last year as part of the federal tax overhaul, the Opportunity Zones program provides tax incentives to developers who […]
“The rich will get richer anyway”: HUD Secretary Ben Carson dismisses concerns that Opportunity Zones will only benefit rich people
Secretary of the Department of Housing and Urban Development Ben Carson (Credit: Getty Images and iStock) Ben Carson is well aware of the complaints directed at the federal Opportunity Zones, and how the tax incentive program meant to boost struggling communities may only end up benefiting rich investors and developers. On Friday, Carson, the Secretary […]
Nipsey Hussle’s partners are raising Opportunity Zone fund, but authorities raise questions about his property
Nipsey Hussle and his property at 3420 West Slauson Avenue (Credit: Getty Images, Google Maps, Wikipedia, Pixabay) After rapper Nipsey Hussle was shot and killed, Los Angeles celebrated him as a hero and his business partners launched an Opportunity Zone fund to spark development and investment in South Los Angeles. But even though the police […]
Shovel-ready in DTLA: Multifamily developer seeks $20M for construction site
Rendering of 1400 South Flower Street (Credit: DLANC) When a developer envisioned a multifamily building in Downtown Los Angeles three years ago, incentives like density bonuses and tax credits were not commonplace. But times have changed. Now, the shovel-ready site is on the market for $19.5 million, and is looking to benefit from a growing […]
Bridge Investment met its $500M Opportunity Zone fund goal. Now what?
Bridge Investment Group Chairman Robert Morse and the Willet’s Point neighborhood (Credit: Getty Images) Bridge Investment Group said it had raised $509 million through its Opportunity Zone fund, becoming one of the few big firms to meet its fund-raise goal for the federal tax incentive program that targets development projects in distressed areas. The company […]
Opportunity Fund eyes $100M for solar-powered affordable housing
From left: 548 Capital managing partner A.J. Patton, partner Erica Johnson and director of acquisitions Charles Cole (Credit: iStock) A local investment group took a leap this month in its sweeping plan to update and preserve thousands of units of affordable housing in Opportunity Zones across the city’s South and West sides. 548 Capital closed […]