Opportunity Zones

Much of the capital has already been deployed to 26 assets in 17 US markets.

The California-based finance company is teaming up with Legacy Partners on a 228-unit residential project on the edge of downtown Tampa.

The Opportunity Zone program was created in 2017 and has been the subject of criticism that wealthy investors have benefited from the program.

"The current crisis is refocusing decision-making on the sustainability of investment opportunities and on building more resilient portfolios to guard against future crises such as climate change," JLL's Gianluca Romano said.

Block 10 is designated as a "opportunity zone" project, yielding tax benefits for investors and spurring development in a low-income area.

Commercial real estate attorney Phil Jelsma gives us an inside look at the IRS extensions and guidance for opportunity zones.

The Miami-based multifamily apartment real estate firm says their portfolio is now valued at $1.7 billion with nearly 8,000 units. It's also looking for investors in purchasing distressed properties.

Zoned for office use, the Queens property encompasses 180,000 buildable square feet within an Opportunity Zone.