America's Top Project

Testimonials

December 2, 2021

Virtual

America’s Top Project finalists

MusicTown is a first of its kind, 15-year master planned Opportunity Zone project that begins and ends with business, economy, and jobs. MusicTown is the first and only Opportunity Zone project that provides the community equity ownership in the proceeds from key economic engines of the plan.

Designed to tap into and grow Chicago's enormous tourism industry, The Live Music and Entertainment District will feature dozens of live music, entertainment, and eating establishments – a modern day French Quarter (New Orleans) or Beale Street (Memphis) covering multiple genres and appealing to music omnivores from all around the world.

OZ legislation allows for investments directly into businesses, not just housing and real estate. The MusicTown QOF is bringing several new entertainment businesses including a pre-IPO news, music, and entertainment distribution platform and made for TV docu-series about the transformation of the West Side and creation of MusicTown. The show will feature members of the community and A-list musicians and celebrities.

The increase in new jobs within the community along with population growth will lead to further service-related jobs and businesses. MusicTown will have tremendous impact on its residents over the next 15 years.

Heritage Point Canalside by Sinatra & Co. is a $40 million mixed-use development in the Canalside waterfront district of Buffalo, New York, which provides Opportunity Zone tax benefits combined with public incentives to yield robust anticipated investor returns. Canalside is the top entertainment destination in Buffalo that is witnessing retransformation through smart, effective redevelopment. As population and jobs growth attract young professionals in healthcare, finance and tech, Buffalo has increasing demand for new workforce housing and revitalized commercial space. Heritage Point will provide 64 new apartments, 12,700 square feet of ground floor retail, and 9,500 square feet of second-floor office space with direct access to a popular public ice-skating rink and recreation pond, all built to seek LEED environmental certification for true green living. For investors, the project takes advantage of Brownfield tax credits, public incentives, and accelerated depreciation for return of initial invested capital after just four years.

Eagle OZ is a single-asset boutique Opportunity Zone fund building 264 multi-family rentals in Chicago’s Historic Bronzeville. It won America’s Most Impactful Project award for its social impact with creation of jobs and housing at the inaugural America’s Top Project competition held during the Opportunity Zone Expo in Denver. The construction of Fund I is underway with 66 units, and Fund II is raising $20M to build 198 more units. Eagle OZ projects an annualized return of 20%+ with 6% preferred cash returns and 9% IRR hurdle before manager incentives are paid. Return prospects are fueled by the $10B of economic development and 55,000 new jobs breaking ground this year. 2020 census data shows an affluent middle class emerging in Bronzeville with 10% population growth and a record number of $500K+ home sales. Eagle OZ offers a venue to participate in this wave of catalytic financial and social upside in a transforming Chicago neighborhood.

Nomads Hospitality Inc. is building the nation’s largest network of food halls, market halls and container halls. Utilizing an online platform and a multi-sided marketplace, Nomads’ app will attract millions of users and small business owners.

The company’s strategy is to build food halls in both OZ and non-OZ zones maintaining Opportunity Zone compliance. Phase I was to build proofs of concepts in Houston. Phase II is to negotiate high TI deals where the developers pay for 80% to 100% of the buildout. Phase III will be to maximize profits through owning the real estate and negotiating the lowest rental rates in locations where Nomads is leasing. As a hospitality fund, Nomads will invest in other brands to help them scale. Multiple exits could be potentially available with more than 10x growth over 10 years with an IRR of 29% for the food halls alone.
Nomadic OZ is a 50m fund that will help raise capital for Nomads Hospitality Inc. and other ventures relating to hospitality and food startups in the company’s PPM.

North Country Growers, a subsidiary of American Ag Energy, is building greenhouses integrated with combined heat and power (CHP) facilities to grow vegetables for the Northeastern United States. This design, which is well-proven and used extensively in Europe, will utilize electricity, waste heat and CO2 to increase produce yields and provide better quality vegetables cost effectively. The City of Berlin, NH, is in full support of the project as the year-round labor force will be well paid with full benefits, the local economy will be revitalized, and it presents a fresh opportunity for the community. In addition to solving food security concerns, the market opportunity is significant for locally grown, better tasting, and fresh produce on the grocery store shelf within 12-24 hours of being picked year-round. The project is fully permitted, has broken ground, and is on track to bring Controlled Environment Agriculture to the Northeast.

There is a huge need for assisted living facilities and senior care in the USA due to the Silver Tsunami on its way.

Behind Hornell Assisted Living is a dedicated group of promoters with a successful track record in construction, real estate, finance, engineering and law. By applying high-tech resources, the project will care for all seniors in a top-notch, affordable facility. Safety in senior care is the company’s main mission.

The $20M project is located in the upstate of Hornell, NY. This area is known for its beauty reminiscent of Switzerland.

Hornell Assisted Living has purchased (in escrow) a vacant hospital for $10M. It has over 200,000 square feet of the built-up area and over 130,000 square feet of parking spots, as well as its own helipad. $10M will be spent converting the facility into an assisted living, senior living and nursing care facility. The project’s goal is to set up a chain of such facilities in the years to come.

Florida is the top destination in the world for RV'ing hospitality resorts. Sebring is the second best place to own a home in Florida.

Sebring, Florida is the ideal site for a destination luxury RV resort, with full amenities. There is nearly a 100% success rate in "built-for-rent" RV resorts. Over the past decade, most RV parks in Florida in the winter have been full, have a waiting list, and turning away clients.

Opening in Q1 2023, the new upscale Florida Lakes RV Resort in Sebring offers the very best of Florida as a vacation and living destination. Visitors and residents can enjoy water activities in one of the county's 100 lakes, as well as biking and hiking in the nearby Highlands Hammock State Park. Sebring offers 16 award-winning golf courses and is home to the world-renowned Sebring International (NASCAR) Raceway. Florida Lakes RV Resort is a place to relax, unwind, and live the stress-free Florida lifestyle. Click for more info

LRT Development Company is a ground-up commercial real estate developer designing communities to address the needs of today’s evolving market. Developing sites in strategic secondary and tertiary markets where there is unmet demand, the company’s strategy is centered around holding assets for long-term appreciation.

LRT Development Co. is the parent company of Island Gateway Partners, a Qualified Opportunity Zone Fund that currently has over 700,000 square feet of multifamily units slated for various stages of development in Hardeeville, the fastest growing city in South Carolina. The Island Gateway project comprises more than 600 market rate apartments, a 152-unit senior living campus, two 120-room hotels, a medical office building and independent living units. Island Gateway has four available OZ funds to invest in, and offers partial redemptions starting in the fourth year.

Locust by Starpoint Properties is a seven story, 108-unit multifamily development project located in a QOZ in Downtown Long Beach, CA. The property is primely situated on the corner of 7th St and Locust Avenue and within walking distance to a wealth of retail and employment centers. Construction begins in Q2-2022 with expected stabilization by August 2024.

With Locust, Starpoint Properties offers a high barrier to entry submarket combining urban living and coastal California setting, as well as substantial investment in revitalizing downtown Long Beach in preparation for 2028 Summer Olympics.

According to Smart Growth America, Long Beach is positioned to be a top 3 market for multifamily rent growth, and there is strong demand for multifamily with market rents increasing at ~3.6% CAGR over the past five years along with ~96%+ occupancy. Locust also enjoys an irreplaceable infill location ideally situated at signaled intersection, boasting daily traffic count of over 21,000 and proximate access to surrounding retail, hospitality and residential amenities.

In Q1, 2021, Saxum completed construction on ShadySide, a 65,964 square foot class A creative mixed-use development in an Opportunity Zone in East Austin. The nearly two-acre site is located just three miles from downtown Austin, Texas, and is uniquely positioned in one of Austin’s quickest growing neighborhoods.

The project is part of the thinkEAST master-planned development, offering affordable live/work, flexible studio space and services within one of the most vibrant and diverse communities in Austin. Saxum’s Austin development project features 63,964 square feet of office and creative studio space, 2,000 square feet of adjacent retail/restaurant space, and approximately 9,000 square feet of central courtyard space, which serves as the social hub of the building and can also accommodate outdoor events and casual gatherings. The project is immediately adjacent to the proposed CAPMETRO Green Line and easily accessible to the Austin Bike Trail System.

Saxum acquired the site in partnership with Austin-based PlaceMKR, and is currently actively leasing the asset.

Verte OZ is the vanguard among VC-OZ funds, with a current portfolio of 10 high-growth, qualified OZ businesses. Verte OZ will continue to build its portfolio to about 20 companies. Due to the higher growth potential in venture capital, a VC-OZ strategy leads to higher expected returns and exit multiples, greater capital gains tax savings, increased diversification and a larger impact compared to a real estate OZ strategy.

Verte OZ’s specific strategy is manifested in the high-growth companies that it has already invested in. The industries include robotics, data storage, electric vehicles, medical devices, logistics, software, and other technologies.

The Verte OZ companies already demonstrate the Fund’s commitment to the “3 Es” of sustainable development: Environmental responsibility (through greenhouse gas reduction, energy efficiency, reduced carbon footprints), Economic growth (through innovation, jobs, workforce development, financial and tangible capital), and social Equity (through entrepreneurship, human capital, inclusive to minority and women founders/engineers, urban and rural communities).