Latest Atlanta & Southeast Opportunity Zones Stories

Capital Square Launches OZ Fund to Develop Luxury Charleston Hotel

Atlanta & Southeast  + Southeast  + Opportunity Zones | January 21, 2020

National real estate firm Capital Square has announced the launch of CSRA Opportunity Zone Fund IV. The project-specific opportunity zone fund is raising capital to develop 529 King Street, a 50-unit, luxury apartment hotel and retail property within a designated opportunity zone in Charleston’s historic King Street corridor. The fund seeks to raise $7.7 million …

Capital Square Launches OZ Fund in Richmond

Atlanta & Southeast  + Southeast  + Opportunity Zones | December 23, 2019

National investment sponsor Capital Square has announced the launch of CSRA Opportunity Zone Fund III LLC, a project-specific opportunity zone fund focused on a multifamily property in Richmond, VA. The fund is raising capital to develop Scott’s Collection III, a 72-unit, multifamily property in the Scott’s Addition designated opportunity zone in Richmond. Scott’s Collection III …

Latest Boston & New England Opportunity Zones Stories

JLL Arranges Sale of 50K-SF Industrial Facility in Malden

Boston & New England  + Opportunity Zones | August 31, 2020

JLL has arranged the $7.3 million sale of a 50,000-square-foot industrial facility within a Qualified Opportunity Zone in the suburban Boston community of Malden. Michael Restivo and Matthew Sherry of JLL represented the seller, a private family, in the transaction. The buyer was real estate investment firm Eastern Real Estate. Located on nearly two acres …

Boston Realty Advisors Secure $30M Construction Loan for MXU Redevelopment

Boston & New England  + Metro Boston  + Opportunity Zones | June 24, 2019

Boston Realty Advisors arranged a $30.9 million construction loan for the ground up redevelopment of 21 E. St. in North Attleborough. The apartment community will consist of 193 market-rate units and 11,500 square feet of retail. The redevelopment will replace the former L.G. Balfour Building in downtown North Attleborough. The site is situated in one of …

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Latest California Opportunity Zones Stories

Cityview Raises Nearly $100M in OZ Capital for Oakland Waterfront

California  + Bay Area  + Opportunity Zones | May 28, 2021

Cityview raised nearly $100 million in opportunity zone capital for its Oakland Waterfront project, a 378-unit multifamily development slated for completion in 2023. The eight-story community will feature a mix of studios and one-, two- and three-bedroom apartments with more than 80 percent of the units overlooking the waterfront. The construction of Oakland Waterfront is …

Ashurst Ranch Buyer Plans Water, Oil Well Improvements

California  + Opportunity Zones | May 20, 2021

Rancho Mountain Properties recently shed the 58,154-acre Ashurst Ranch in California’s Central Valley. The cattle property is primarily located in San Benito County but extends into Fresno County. The ranch sold to Scott Raven, a long-time farmer in the Central Valley who will maintain a cattle operation on the ranch. The price was undisclosed. In …

Latest Chicago & Midwest Opportunity Zones Stories

Developer Sells Home Depot Distribution Center in MO

Chicago & Midwest  + South Side  + Opportunity Zones | April 26, 2021

Stan Johnson Company (SJC) recently completed the sale of a single-tenant industrial warehouse and distribution center leased to Home Depot. The property, located at 5701 U.S. Hwy. 54 East in Mexico, MO, totals approximately 310,000 square feet. The seller, a Midwest-based developer, was represented by SJC’s Jonathan Ameen and Brad Pepin. A private investor from New York purchased …

Habitat’s Ogden Commons Hosts INVEST South/West Anniversary

Chicago & Midwest  + North Side  + Opportunity Zones | November 18, 2020

The Habitat Company was honored to host Chicago Mayor Lori Lightfoot and city officials recently at Ogden Commons to mark the one-year anniversary of the mayor’s INVEST South/West initiative.  Ogden Commons, a 10-acre, $200-million mixed-use project in the West Side’s North Lawndale neighborhood is under development by a public-private partnership led by Habitat in conjunction with Sinai Health System, Cinespace Chicago …

Latest Florida & Gulf Coast Opportunity Zones Stories

Related Group Breaks Ground on Nation’s Largest O-Zone Resi Project

Florida & Gulf Coast  + Opportunity Zones | August 14, 2020

Related Urban Development Group broke ground for Three Round Towers B&C/Brisas del Este, an affordable housing development that will encompass three buildings for a combined total of 383 units in the Allapattah area of Miami-Dade County. Total development cost is more than $106 million, and the project is reportedly the largest of its kind in …

JLL Handles New Orleans Self-Storage Development Site Sale

Florida & Gulf Coast  + Gulf Coast  + Opportunity Zones | April 30, 2020

York Developments purchased a 1.16-acre land site in New Orleans with plans to develop a three-story, Class A self-storage facility. The project is envisioned for 836 climate-controlled units that will be branded under SpaceBox Storage. The site at 1125 S. Liberty St. is within a Qualified Opportunity Zone. The infill location in New Orleans’s CBD …

Latest Global Opportunity Zones Stories

Latest National Opportunity Zones Stories

Qualified Opportunity Funds Continue to Grow Their Equity

National  + Opportunity Zones | February 5, 2021

Equity raised by qualified opportunity funds (QOFs) that are tracked by national accounting and consulting firm Novogradac surpassed $15 billion at the end of 2020. The firm’s Novogradac Opportunity Zones Investment Report: Data Through Dec. 31, 2020 reports $15.16 billion in equity raised by QOFs for which Novogradac has information.  Novogradac is tracking 969 QOFs, of which 659 have reported the dollar amount …

Silverstein, Cantor Fitzgerald Partner on Philly Life Sciences Project

National  + Pennsylvania  + Opportunity Zones | December 3, 2020

Manhattan-based Silverstein Properties and Cantor Fitzgerald are partnering with University Place Associates (UPA), a sustainable commercial development firm based in Philadelphia, to develop, operate and lease 3.0 University Place, a life sciences-enabled building located in Philadelphia’s rapidly growing submarket of University City. Slated to open in the first quarter of 2022, the 250,000-square-foot 3.0 University …

Latest New York & Tri-State Opportunity Zones Stories

CushWake Markets “Mega-Scale” Parcel in Jamaica

New York & Tri-State  + Outer  + Opportunity Zones | December 7, 2020

Cushman & Wakefield has been retained to market The Queens Pinnacle at Jamaica Station for sale. The 900,000-buildable-square-foot, transit-oriented development site is located in a qualified Opportunity Zone at 94-01 Sutphin Blvd. in Downtown Jamaica, Queens. A Cushman & Wakefield team of Stephen R. Preuss, Kevin Schmitz, Kevin Louie and Andreas Efthymiou will lead marketing efforts on …

Avison Team Markets CT O-Zone Site

New York & Tri-State  + Fairfield/Westchester  + Opportunity Zones | October 2, 2020

The Tri-State Investment Sales Group for Avison Young is marketing 64 S. Main St., a 1.45-acre lot in South Norwalk, CT. The site is located in an Opportunity Zone and is being offered without an asking price. An Avison Young team led by Tri-State Investment Sales head James Nelson; principals Erik Edeen, Sean Cahill and Kevin Malloy; VP …

Latest Phoenix & Southwest Opportunity Zones Stories

First and Only Hotel Connected to Tucson Convention Center Opens its Doors

Phoenix & Southwest  + New Mexico  + Opportunity Zones | March 25, 2021

The first and only hotel connected to the Tucson Convention Center, DoubleTree by Hilton Tucson Downtown, opened its doors this week, according to CaliberCos Inc. and Ryan Companies US Inc. The project broke ground in May 2019 and was the first Opportunity Zone project in Arizona for Caliber and Ryan Companies. This new hotel supports …

Pintar and Suncrest Partnership Acquire OZ Land in Phoenix

Phoenix & Southwest  + Phoenix  + Opportunity Zones | March 10, 2021

Pintar Investment Company and Suncrest Real Estate & Land recently acquired an 8.68-acre Opportunity Zone parcel in Phoenix. The partnership identified the land parcel opportunity for a 109-unit build-to-rent community called Zora Encanto as an investment within the PICOZ Fund I L.P. This is the fourth asset in this investment vehicle. “We have been actively …

Latest Seattle & Northwest Opportunity Zones Stories

Two OZ Multifamily Projects Align with Existing Transit Improvements

Seattle & Northwest  + Opportunity Zones | January 27, 2021

Two Opportunity Zone mixed-use mid-rise apartment projects, one in the Jackson Park neighborhood of Seattle and the other in the City Center District of Lynnwood about 15 miles north of downtown Seattle, are set for development beginning in March and summer 2021, respectively. Developers Hatteras Sky and Trent Development, along with capital partner Cresset Diversified …

Holland, Virginia Firm Join Forces on Vancouver Opportunity Zone Project

Seattle & Northwest  + Opportunity Zones | July 6, 2020

Vancouver, WA-based Holland Partner Group (HPG) and Arlington, VA-based EJF Capital are partnering on Block 10, a mixed-use opportunity zone development in downtown Vancouver, WA. Project plans include 110 multifamily units, 79,000 square feet of office and roughly 10,000 square feet of retail. Holland executed a 60-year ground lease with the city last year that …

Latest Texas Opportunity Zones Stories

Texas A&M Releases Report on Rio Grande Valley

Texas  + Opportunity Zones | April 30, 2021

A team of researchers from Texas A&M University recently released a comprehensive legal needs assessment of the Rio Grande Valley (RGV) region. The report presents the findings from a legal needs and oral history project simultaneously undertaken from August 2019 to September 2020. The report provides a discussion about access to information and documents pertinent …

1980s-Era Strip Center’s Design Has Sustainability at Forefront

Texas  + Opportunity Zones | March 15, 2021

A redevelopment effort is completely reimagining a 1980s-era strip shopping center on Pinemont Drive, bridging Garden Oaks, Oak Forest and Acres Homes. Plans for The Common are now complete, and the remodel is anticipated to begin this month for the 38,000-square-foot Opportunity Zone project spanning 2.98 acres at 1102 Pinemont Dr. near Ella Boulevard. A …

Latest Washington DC Opportunity Zones Stories

Capital Square Breaks Ground on OZ Project in Richmond

Washington DC  + DC Metro  + Opportunity Zones | May 27, 2021

Capital Square, a sponsor of tax-advantaged real estate investments, and its construction partners have broken ground on Scott’s Collection III, a 72-unit, luxury multifamily development in the Scott’s Addition qualified opportunity zone in Richmond, VA. Located at 3001 W. Leigh St., Scott’s Collection III is a ground-up development that will include a five-story, luxury multifamily …

Capital Square Secures Construction Loan for Mixed-Use OZ Project in Richmond

Washington DC  + DC Metro  + Opportunity Zones | October 6, 2020

Capital Square has secured a loan from Fulton Bank to construct Scott’s Collection II, a mixed-use multifamily property in the Scott’s Addition designated opportunity zone in Richmond. Located at 2900–2904 West Clay St., Scott’s Collection II is a single-structure, ground-up development that will include a five-story, multifamily community comprised of 60 units. Part of a …