Opportunity Zones

Providing the infrastructure to supercharge growth can help smaller cities compete.

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.

Dynamic Star, a real estate development and investment firm, is in search of an equity partner to capitalize on the Opportunity Zone benefits at its development site in the Bronx called Fordham Landing, a $3.5 billion mixed-use community.

Cresset Partners and Diversified Real Estate Capital has closed its first Opportunity Zone fund at $465 million and launched its second fund with a $750 million target.

Turnbridge Equities, a national real estate development and management firm, has unveiled plans for a 1.2-million-square-foot last-mile distribution center in the South Bronx located at 980 East 149th St.

As investors look to fully capitalize on the tax incentives afforded to projects in Opportunity Zones, layering on top other subsidies offered through programs like the New Markets Tax Credit Program has become popular.

Halpern Real Estate Ventures, a real estate investment platform focused on value creation in urban centers, has closed a $50 million commingled Opportunity Zone fund in partnership with General Partner Capital.