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New York & Tri-State  + Outer  + Opportunity Zones  | 

Shorewood, Bridge, Capricorn Partner on $155M O-Zone Project

Shorewood Real Estate Group has formed a $155-million Opportunity Zone partnership with Bridge Investment Group LLC and Capricorn Investment Group LLC. The partnership, which brings together three prominent players in the Opportunity Zone space, will develop a 315-unit rental project in Queens’ Jamaica neighborhood.

“We’re excited to align ourselves with such distinguished partners on this important project,” said Shorewood president and CEO S. Lawrence Davis. “With our firms’ combined experience in urban real estate, I’m confident this partnership will have a positive impact in Jamaica and other future community development projects.”

The announcement comes a few days after Bridge said it had exceeded its $500-million goal for its first Opportunity Zone fund. It identified Queens as one of the markets in which the fund would be deployed.

Shorewood didn’t provide specifics on the Jamaica project’s location or the timeline for development.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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