Opportunity Zone activity continues to surge after the second round of rules finalized last month.
Below is a run-down of Opportunity Zone projects announced in the past ten days;
Aurora, Colorado: The first industrial Opportunity Zone project is the creation of a logistics center south of Denver International Airport. The Industrial Developers J.A. Greene hired Cushman & Wakefield to handle leasing for the project.
Norwich, Connecticut: A historic mansion and former Elks Club building was purchased for $400,000. The project will renovate the structure into a boutique hotel.
Staunton, Virginia: A strip-mall and Family Dollar shopping center is set to close. Local developers are seeking to replace retail with affordable housing in the Opportunity Zone though no plans have been formally announced.
Lafayette, Louisiana: Alpha Capital Partners acquired a 342-bed student housing facility at the University of Louisiana at Lafayette. The group’s fund had a target raise of $250 million and previously acquired a 300 unit multi-family property in Nashville, Tennessee.
Missoula, Montana: A $5.8 million office and restaurant space is touted as Missoula’s first Opportunity Zone development. The project is receiving additional support from local tax-increment financing to facilitate complementary infrastructure improvements.
San Jose, California: Urban Catalyst acquired a property in Lido for $6.9 million. Project plans include mix-use office, retail, and restaurant facilities and the creation of an additional building with 50,000 Sq. Ft. of mixed-use space. The property transforms a dilapidated former nightclub.