From left: Clayco CEO Bob Clark and Farpoint founding principal Scott Goodman (Credit: iStock) A pair of Chicago development firms are teaming up on a new Opportunity Zones venture, hoping to fund and build up to $20 billion in new projects over the next 10 years. Farpoint Development and Clayco will spearhead the Decennial Group, […]
Home sale prices in Opportunity Zone jump 25%
Home prices are up in Opportunity Zones (Credit: iStock) With government officials projecting that more than $10 billion in private capital will pour into federal Opportunity Zones, real estate values in those areas are expected to jump. According to one study, so far they’re right. Home sale prices of residential properties in designated Opportunity Zones […]
Opportunity Zone investors see big tax breaks in the offing… but will lenders follow?
When Avra Jain started redeveloping the historic Vagabond Hotel in 2012, people thought she was crazy. With few tourist destinations nearby, the debris-ridden, mosquito-infested former motel on Biscayne Boulevard in the MiMo District was far removed from the glitzy sophistication of Brickell and South Beach. One of the former Wall Street bond trader-turned-developer’s biggest challenges […]
Here are the latest under 50-unit resi projects proposed in LA
From top left, clockwise: 12757 W. Mitchell Avenue, 11155 W. Huston Street, and 181 S. Virgil Avenue (Credit: Google Maps) Developers continue to mine the city’s Transit Oriented Communities incentives and are beginning to seize on the federal Opportunity Zone program for residential projects of under 50 units. In the latest round, the largest of […]
National Cheat Sheet: HomeServices named largest US resi brokerage, housing starts hit 8-month low… & more
Clockwise from top left: Warren Buffett’s HomeServices named largest resi brokerage in the U.S., New-home groundbreakings hit an 8-month low in February, report says, BlackRock snaps up real estate analytics firm eFront for $1.3B, and private real estate funds struggling to invest record amounts of cash. Warren Buffett’s HomeServices named top US resi brokerage Berkshire […]
For Travis County, Texas, Opportunity is definitely calling
From left: Palm Beach County and Los Angeles (Credit: Wikipedia) Real estate investors and developers are raising hundreds of millions of dollars for projects in the thousands of Opportunity Zones scattered around the country. But not all areas offer the best return for investors. With that in mind, what are the top counties in the […]