Opportunity Zones

There are 8,764 Opportunity Zones in the United States, many of which have experienced a lack of investment for decades. The Opportunity Zones initiative is not a top-down government program from Washington, but an incentive to spur private and public investment in America’s underserved communities by providing tax benefits to investors.

Opportunity Zones are economically distressed communities, defined by individual census tract, nominated by America’s governors, and certified by the U.S. Secretary of the Treasury via his delegation of that authority to the Internal Revenue Service.

Under certain conditions, new investments in Opportunity Zones may be eligible for preferential tax treatment. Opportunity Zones offer tax benefits to investors who elect to temporarily defer tax on capital gains if they timely invest those gain amounts in a Qualified Opportunity Fund (QOF). Investors can defer tax on the invested gain amounts until there is an event that reduces or terminates the qualifying investment in the QOF (an “inclusion event”), or December 31, 2026, whichever is earlier.

Below are the current projects in our pipeline:

The Beam (Fort Trumbull)

• 203-unit multifamily development in New London, CT

• 100% Opportunity Zone qualified real estate

• Resilient demand due to long term Government manufacturing contract

• Superior location with harbor views

• Significant employment growth from adjacent General Dynamics Corp

Cadence on Canal (Canal Place)

• 176-unit multifamily development in New Haven, CT

• 100% Opportunity Zone qualified real estate

• Resilient demand due to Yale University and Science Park activity

• Superior location on Farmingham Heritage Trail through Yale campus

• Nearby employment at Science Park Innovation Hub and Labs

Albert Lea VA Clinic

• Veterans Clinic in Albert Lea, MN

• 100% Opportunity Zone qualified real estate

• Located in a busy section of Albert Lea along U.S. Route 65 – only 1 mile southwest of crossroads I-90 and I-35

• Largest employment sector in the area is health care followed by food service/agriculture

• Albert Lea is also known for its lakes which surround the city, and recreation including Myre-Big Island State Park

South Park Industrial, San Antonio, TX

• San Antonio region well suited to capture trade business directly on the primary route to Laredo and Mexico

• “Port of Laredo” approached the trade volume of Los Angeles and even surpassed it for the month back in March 2019

• New trucking laws passed boosting San Antonio as a prime location for US Distribution from Mexico

• South San Antonio is home to Toyota, who has a manufacturing plant which builds Tacoma and Tundra trucks, in the process of a $17 million upgrade

• Approval was also recently received for an additional $400 million expansion of this manufacturing center

• Building development/acquisition portfolio totaling 250,000 SF