Read the news, strategies, insights and feature articles we are compiling about one of the biggest developments in CRE in recent years: Opportunity Zones.
Critics say the law should redefine distressed areas and prevent investments in casinos, stadiums, luxury hotels, student housing, storage facilities and high-end housing from qualifying for the tax breaks.
The property, located in a qualified opportunity zone in the Bergen-Lafayette neighborhood, was sold by a partnership between Alpine Development, Fields Development Group and Grade Development Co.
Oregon has 834 census tracts, more than 300 of which were eligible by meeting the definition of a "low income community" in terms of median family incomes or poverty rates, and Governor Brown's nomination resulted in 86 QOZs.
The project located in a federally-designated Qualified Opportunity Zone is a public-private partnership between Habitat, Sinai Health System, Cinespace Chicago Film Studios, the Chicago Housing Authority and the city of Chicago.
Catalyst Opportunity Zone Funds has created a social impact scorecard to ensure it is meeting both community and investment needs on opportunity zone projects.
The NMTC loans included a $4-million allocation from Capital One Community Renewal Fund and a $10.5-million allocation from NJCC, which also provided Hugo Neu with a $2.5-million term loan.