Midas Hospitality, a leading hotel development, management and investment firm raised $35 million in four months for its Opportunity Zone fund, largely from St. Louis area investors. The project brings the first hotels to the St. Louis’ Cortex innovation district and Prospect Yards community.
Two major Chicago real-estate players are teaming up to raise $1 billion for Opportunity Zones investments in the Midwest and across the country. Farpoint Development, which has played a key role in redeveloping Chicago’s west side, will pair with real estate firm Clayco to launch Decennial Group, named for the 10-year investment timeline required to reap the full benefits of the OZ program.
Scott Turner, executive director of the White House Opportunity and Revitalization Council, will be a keynote speaker at the Opportunity Zone Expo in Las Vegas on May 9-10, which is set to once again be the nation’s largest event in the Opportunity Zone investment industry.
Eaty Gourmet LLC already explored developing a dynamic mixed-use project on 52 acres on the Columbia River owned by the Port of Pasco when they learned the property sat in an Opportunity Zone.
A gleaming new glass-and-steel addition is coming to the Vancouver waterfront: the 150-room AC Hotel by Marriott, Vancouver’s first major Opportunity Zone project, is poised to begin construction ahead of a planned opening in early 2021.
After input from hundreds of key players in the industry, the U.S. Department of the Treasury has today released a second set of proposed regulations for the Opportunity Zone tax incentive program.
President Trump has named NFL star and Texas state legislator Scott Turner as executive director of the White House Opportunity and Revitalization Council, which will coordinate federal agencies’ efforts to support the OZ program. We checked in with Turner as he settled into his new role. “I’m very humbled, to say the least, to have been brought in to be a part of this council,” Turner said.
The Kresge Foundation is staking $22 million to anchor two new Opportunity Zone Funds, in a bid to drive $800 million in new capital into distressed communities while increasing transparency and responsible investing in the OZ sector.
Ohio Governor Mike DeWine has announced that his proposed budget for the 2020-2021 biennium will include a state tax incentive to attract investment to Ohio’s designated Opportunity Zones.
With 8,700 designated opportunity zones in the United States, finding impactful investment within the zones has become an interest to many in the community development realm.
The Opportunity Zone Expo is proud to announce Arizona Gov. Doug Ducey and Rep. Mark Amodei (R-Nevada) as keynote speakers for its upcoming Las Vegas conference, set to be the nation’s largest event in the Opportunity Zone investment industry.
President Donald Trump has signed an executive order establishing a new White House council that will encourage investment into the nation’s Opportunity Zones.
A new set of tax regulations is presenting investors with appealing opportunities while potentially bringing in capital to areas that need it the most. It also gives developers new funding venues for their projects.
The benefit of rolling capital gains into a Qualified Opportunity Fund is getting a tax reduction or eliminating any capital gains tax.
The Department of the Treasury has announced draft rules and regulations to bring clarity to investors on the tax implications of investing in Opportunity Zones.