OZ 2.0 Enacted!
OZ 2.0 Enacted!
The New York Senate voted this week to decouple the state’s capital gains rate from the Opportunity Zone incentive, a move that has been widely anticipated since S.B. 6800 was introduced last year. The measure passed the Senate 44-17 without…
EJF Capital has secured a $67 million construction loan from Synovus Bank for its multifamily development in Nashville’s Metrocenter District. The project is located at the old Watkins College campus in north Nashville. Watkins College merged with Belmont University in…
Urban Catalyst has officially broken ground on its Gifford Place project in San Jose. The property will be developed into a 167-unit senior living facility, one of the only such facilities to be built in the city over the past…
Luxury home builder Toll Brothers announced plans to develop a 501-unit multifamily development in Washington, D.C. that will be financed through a $163 million construction loan from Bank OZK. The property, located at 113 Potomac in the Buzzard Point neighborhood…
Ryan Companies has started construction on a 151-unit multifamily project in an Opportunity Zone in the Denver suburb of Lakewood. The project will encompass more than 130,000 square feet in a six floor building. Amenities will include a pool, patio,…
Standard Communities has secured $47 million in financing for the development of a 219-unit Class A development in Savannah, Georgia. The Line community will consist of two buildings and feature a pool, sundeck, and fitness center. “We are incredibly proud…
Parsonex Capital Partners and Senergy Builders have broken ground on their second OZ project. The Brookwillow Estates project will consist of 36 condominium units in the booming town of Grand Junction, which is located off of I-70 near the Utah–Colorado…
Eagle OZ has announced the launch of its second qualified opportunity fund, which will seek to raise $50 million to complete the construction of 444 multifamily apartment rentals in Chicago. The Eagle OZ fund will specifically target the Bronzeville neighborhood…
Bipartisan and bicameral legislation was introduced last week that would improve Opportunity Zones and push back the tax incentive’s deferral date by two years, from 2026 to 2028. Co-sponsored by Senators Cory Booker (D-NJ) and Tim Scott (R-SC) and U.S.…
The Opportunity Zones program has not been without controversy and debate. Despite public sparring over whether the program is achieving its intended purpose, the new Opportunity Zones in 2022: Perception vs. Reality report, published by JTC Americas in partnership with OpportunityDb,…