WDCEP Releases Opportunity Zone Investment Publication
The Washington DC Economic Partnership (WDCEP) has released a comprehensive report on the real estate investment opportunities in the District of Columbia’s 25 Opportunity Zones. The Emerging Corridors + Opportunity Zone publication can be downloaded.
The publication highlights potential investment & new business opportunities in Washington, DC’s Opportunity Zones (OZ) and along underserved commercial corridors. This publication provides an overview of each area, detailed assessment of potential sites for developers and business owners, and current investment occurring in each zone. In addition, incentives & resources that complement Opportunity Zones and help align new development & investment with the District of Columbia’s economic development and affordable housing goals are also provided.
The DC’s Opportunity Zones occupy approximately 18.4% of DC’s 68.3 square miles and contain 13.4% of the total population. Between 2010 and 2018, total population within Opportunity Zones in DC has increased by 11.3% and more than half of all future projects in DC are located in or within a 10-minute walk of an Opportunity Zone.
More information on DC’s Opportunity Zones can be found by visiting oppzones.dc.gov.
To search for potential investment projects in DC’s Opportunity Zones please visit search.wdcep.com and select the Development tab.
The OZ program provides tax incentives for investments in new businesses and commercial projects in designated Census Tracts. Investors can defer tax on capital gains invested in a Qualified Opportunity Fund (QOF), which must invest in real estate or a business entity in an Opportunity Zone. Other benefits include 10% and 15% increases in basis at the five- and seven year marks, respectively, and no taxes on the QOF gains if investments are held at least 10 years.
For more information on investment opportunities in DC’s OZ please contact Derek Ford, SVP of Emerging Neighborhoods (dford@wdcep.com) or Chad Shuskey, SVP of Research & Real Estate (cshuskey@wdcep.com).
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