In the last year, Opportunity Zones have been the center of many conversations for those involved in commercial real estate. Opportunity Zones mark the latest way of helping investors save on taxes, while also aiding to advance the economic fabric of an underdeveloped community.
The Opportunity Zone program was established in the Tax Cuts and Jobs Act of 2017. It was put in place to funnel unrecognized capital gains into the U.S. census tracts that need it most, and to bring them development they wouldn’t see otherwise. From the passage of the program in December of 2017, there has been a continued and substantial increase in the interest and investment in these zones. With over 6 trillion in unrealized capital gains in the U.S. the potential for change in these areas is astronomical.
Reonomy is the only platform where you can not only identify properties in OZ’s, but analyze areas of interest for investment and development. Utilizing this data, Reonomy looked at Opportunity Zones in and around 6 of the largest markets in the U.S.