September 19, 2019 BisNow: 2019 Will Be Crucial For Opportunity Zone Development
The opportunity zone market continues to draw national attention. With Paramount’s headquarters in an opportunity zone itself (West Oakland), we look forward to what’s to come in the latter half of 2019.
Bisnow writes that investors are claiming a lack of clarity is stalling any kind of large-scale benefits in opportunity zones (OZs), which proponents promised would come to distressed communities.
The story notes recent data from research company Reonomy shows a dwindling share of investments going to the country’s 8,700 OZs, but those numbers go up to March just before the Treasury Department’s second round of guidelines were released.
OZ fundraisers say they have seen enough of a boost in investment activity since April to suggest the program could start working after all. A sense of urgency also makes it more likely that opportunity zone funding could markedly increase by the end of 2019. There has been more capital drawn to opportunity zones since April, and many cities may start seeing increased investment in their designated zones.
Read the full story at Bisnow.com