An affordable housing project Investors are hoping to raise billions of dollars for Opportunity Zones projects across the country, but critics worry little of that money will go to the troubled neighborhoods the federal tax incentive initiative was meant to help. Now, the philanthropic Kresge Foundation is partnering with two investment firms that are launching […]
The Closing: Anthony Scaramucci
Anthony Scaramucci (Photos by Studio Scrivo) Anthony Scaramucci may be best known for his 11 tumultuous days as President Donald Trump’s White House communications director, before he got the axe from then-Chief of Staff John Kelly in July 2017. That was the first time Kelly and Scaramucci had met. The fast-talking 55-year-old financier, whose recent […]
National Cheat Sheet: Developers among 50 charged in college admissions scandal, Ben Carson wants to boost affordable housing in Opportunity Zones … & more
Clockwise from top left: Real estate developers among 50 charged in college admissions fraud scheme, HUD will give preference to affordable housing in Opportunity Zones, Ben Carson says, New York congresswoman presents bill that would expose LLCs’ beneficial owners, and CoStar Group sues two NY firms claiming copyright infringement. Real estate developers among 50 charged […]
Steve Wynn’s Opportunity Zones meeting with Treasury Department officials raises eyebrows
From left: Steven Mnuchin and Steve Wynn (Credit: Wikipedia) Steve Wynn is a fan of Opportunity Zones, too, evidently. The disgraced casino mogul met with Treasury Department officials last June to discuss the federal tax incentive program for developers, just as the agency was writing new rules for the program, according to the Wall Street […]
Ben Carson says HUD will give preference to developers who build affordable housing in Opportunity Zones
Ben Carson and a map of opportunity zones (Credit: Getty Images) Housing and Urban Development Secretary Ben Carson said the agency will give preference to developers and investors who build affordable housing in federal Opportunity Zones when it comes to certain grants. In an interview with The Real Deal on Tuesday, Carson said HUD will […]
Silverstein, Cantor Fitzgerald to raise nearly $2B Opportunity Zone fund
Howard Lutnick and Larry Silverstein (Credit: Getty Images and iStock) Silverstein Properties and Cantor Fitzgerald are looking to raise almost $2 billion for an Opportunity Zone fund. The joint venture will target primary metropolitan markets for mostly ground-up developments, including retail, office, industrial and hospitality buildings, the firms announced. It is not clear which markets […]