Below are recent developments in the Opportunity Zone space. In addition to the funds and projects announced below, some foundations are beginning to prioritize infrastructure related donations and investments in Opportunity Zones.
The below projects are likely spurred by the incentive.
Arizona is making significant progress in utilizing the Opportunity Zone incentive for new development that includes a convention center and apartments.
Washington, D.C. Hill East Neighborhood: EJF Capital, Donatelli, and Blue Skye Development announced a 262-unit mixed-use, mixed-income multifamily development. The development will cost an estimated $95 million.
Tucson, Arizona: Several Opportunity Zone related projects occurred in Arizona such as a new convention center. Two recent developments could make use of the Opportunity Zone incentive including The Julian Drew Lofts project, a 44 residential unit with ground-floor retail space, and a 96-unit apartment complex on 127 S. Fifth Avenue.
A new fund signals buy-in from community leaders. Our Opportunity is a fund co-founded by David Gross and Nipsey Hussle and includes partners T.I., Charlamagne Tha God, Derrick Rose, and other heavy-hitters.