- Conversations around Opportunity Zones have matured from what to how as deadlines loom for claiming full tax benefits.
ImpactAlpha, April 9 –What’s difference do Opportunity Zone tax breaks make for a commercial real estate fund? San Francisco-based real estate company M31 Capital has launched a $25 million Opportunity Fund to buy up vacant and underutilized apartment and mixed-use properties in the San Francisco Bay Area and restore them as entry-level workforce housing. M31
- The Kresge Foundation is anchoring two Opportunity Zone funds on the condition that the fund managers agree to measure and track their impact.
- Even before Opportunity Zone legislation arrived last year, providing tax incentives for investments into low-income neighborhoods, Launch Pad had begun the expansion of its New Orleans co-working space and business incubator to Newark, Nashville and Memphis.
- Now the firm has raised a $1.33 million seed round to jumpstart its expansion inside Opportunity Zones around the country.
- "Many Opportunity Zone investors may not be so responsive to their communities, and will instead seek to change the character of a neighborhood by building luxury apartments or destination retail," writes Turner Impact Capital's Bobby Turner. "Fulfilling the spirit of the Opportunity Zone ideal means pulling people up, not pushing people out.
- A new reporting framework from the U.S. Impact Investing Alliance and the Beeck Center at Georgetown University stresses key principles, including engagement with low-income and underinvested communities, equitable community benefits, and transparency and measurement around impact objectives and outcomes.
- Place-based, blended finance through a racial lens. A $100 million commitment from Prudential Financial is a trifecta of impact investing trends.