Opportunity Zones

The agency estimates the tax credit awards will generate approximately $230 million in private equity that will create about 1,200 affordable rental apartments in the Garden State.

The two-year, floating rate financing deal was provided by Rialto Capital Management on behalf of the Normandy Opportunity Zone.

The firm's first three projects are located in Salt Lake City and Bozeman, Montana, markets that will benefit from capital investment.

The building was previously AT&T's corporate office and is currently partially leased to a number of office tenants.

With opportunity zones fueling new development activity, could construction costs start to increase again in 2020?

The initiative is part of a $100-million strategy announced last Friday by Fifth Third Bank to invest in Qualified Opportunity Zones across the nation

The benefits of the opportunity zone model will be part of the solution in bringing more affordable housing to the market.

The final guidance on the opportunity zone regulations could help investors avoid the substantial improvement requirement.