Below is a look at recent Opportunity Zone funded developments across the United States:
Crop One Holdings Vertical Farm: Crop One Holdings is a value-added food producer expanding capacity in vertical farming. They will invest in vertical farms in the Austin-San Antonio corridor.
Driftwood Qualified Opportunity Fund: Driftwood QOF secured two hotel investments including a Home 2/Tru in Fort Lauderdale and an IGH urban hotel in Wilmington, DE.
Edgewood $200M Bryant Street Development: Unclear if Opportunity Zones incentives were tapped, as Holliday Fenoglio Fowler LP announced financing for the Edgewood Project that will include 487 multifamily units, a nine-screen Drafthouse Cinema, and 38,482 sq. ft. of additional retail space.
Hilton Head Island Spec Building: A spec building in the Hilton Head Opportunity Zone will be built at the cost of $1 million. It is not specified if the Opportunity Zone incentive will be utilized to build the spec infrastructure, but the incentive will likely play a major part in the sales process of future development.
An encouraging development in Opportunity Zones is the utilization of the incentive to bolster innovative farming and local agricultural companies. Crop One Holdings operates Fresh Box Farms that sells locally grown produce, without pesticides, in Millis, Massachusetts.