California Opportunity Zone Map: San Jose in the 2026 Draft

California’s draft Opportunity Zone map recommends 560 of the state’s 2,469 eligible census tracts. Santa Clara County has 17 draft recommendations, including 15 concentrated in the San Jose area.

The figures show how California is narrowing its eligible field and where San Jose currently appears in the statewide Opportunity Zone redraw. The recommendations remain preliminary while California completes public comment and prepares its final nominations.

How many California tracts are recommended for Opportunity Zone designation?

California’s current draft recommends 560 census tracts from a federally eligible pool of 2,469 tracts. The state may nominate no more than 25% of its eligible tracts, producing a maximum of 618 nominations under California’s published calculation.

Eligibility and recommendation are not the same. An eligible tract may be considered by California, while a draft-recommended tract appears on the state’s preliminary list for possible nomination.

How many draft Opportunity Zone recommendations are in San Jose?

Santa Clara County has 17 draft-recommended tracts. California’s map places 15 of those recommendations in the San Jose area.

These figures describe the current draft. They do not guarantee that all 15 tracts will be included in California’s final nominations or certified by the U.S. Department of the Treasury.

What do the colors on California’s Opportunity Zone map mean?

The state’s interactive map displays both eligible tracts and draft-recommended tracts using different shades. That is why a search for “San Jose” returns more than 15 results: the results include eligible San Jose tracts that are not on California’s draft recommendation list.

The official map should be read using four distinct statuses:

1. Eligible: The tract meets federal criteria and may be considered.
2. Draft recommended: The tract appears on California’s preliminary list.
3. Nominated: The Governor includes the tract in California’s final Treasury submission.
4. Designated: Treasury certifies the nominated tract as a Qualified Opportunity Zone.

As of August 10, 2026, the map is still at the draft-recommendation stage. No tract on California’s draft list should yet be described as a final Opportunity Zone 2.0 designation.

Why is the Opportunity Zone redraw so competitive?

A recent CoStar analysis of the Opportunity Zone redraw describes the competition emerging as states choose among thousands of eligible communities nationwide.

The new Opportunity Zone framework uses recurring 10-year designation cycles. Because the next map will shape which eligible communities may receive designation for the coming cycle, state and local stakeholders are paying close attention to how governors narrow their lists.

California says its evaluation considers poverty, median family income, housing conditions, unemployment, geographic equity, development readiness, and alignment with state and regional economic-development priorities. The draft list does not disclose the individual weight assigned to each factor for each tract.

Is California’s 2026 Opportunity Zone map final?

No. California’s current map is a draft. The public-comment period closes August 28, 2026, at 11:59 p.m. California currently plans to submit its final nominations to Treasury by September 28, 2026. The new map is scheduled to take effect January 1, 2027, following federal certification.

For a detailed explanation of the comment period, eligibility rules, deadlines, and submission process, read Urban Catalyst’s California Opportunity Zones 2.0 public-comment guide.

What happens next for San Jose and Santa Clara County?

California will review public comments and other state and local information before the Governor determines the final nomination list. Treasury certification follows the state submission.

For San Jose and Santa Clara County, the principal question is whether the area’s current concentration of draft recommendations remains intact through those final stages. Until the process is complete, the accurate descriptions are eligible and draft recommended, not designated.

Official map and sources

• California Opportunity Zones 2.0 map and public-comment portal
• California Department of Finance Opportunity Zones page and draft tract list
• California GO-Biz Opportunity Zones guidance
• California Opportunity Zones 2.0 FAQ
• CoStar: High-Stakes Redraw of Opportunity Zones Stokes Competition

This article is for educational and informational purposes only. It is not a research report or investment recommendation and does not provide tax, legal, accounting, investment, or securities advice. It is not an offer to sell or a solicitation of an offer to buy any security. Opportunity Zone recommendations and designations remain subject to state and federal action.

Important Disclosurs

The contents of this communication: (i) do not constitute an offer of securities or a solicitation of an offer to buy securities, (ii) offers can be made only by the confidential Private Placement Memorandum (the “PPM”) which is available upon request, (iii) do not and cannot replace the PPM and is qualified in its entirety by the PPM, and (iv) may not be relied upon in making an investment decision related to any investment offering by an issuer, or any affiliate, or partner thereof ("Issuer").

All potential investors must read the PPM and no person may invest without acknowledging receipt and complete review of the PPM.

With respect to any performance levels outlined herein, these do not constitute a promise of performance, nor is there any assurance that the investment objectives of any program will be attained. All investments carry the risk of loss of some or all of the principal invested. Assumptions are more fully outlined in the Offering Documents/ PPM for the respective offering. Consult the PPM for investment conditions, risk factors, minimum requirements, fees and expenses and other pertinent information with respect to any investment.

These investment opportunities have not been registered under the Securities Act of 1933 and are being offered pursuant to an exemption therefrom and from applicable state securities laws. All offerings are intended only for accredited investors unless otherwise specified.

Past performance are no guarantee of future results. All information is subject to change. You should always consult a tax professional prior to investing. Investment offerings and investment decisions may only be made on the basis of a confidential private placement memorandum issued by Issuer, or one of its partner/issuers. Issuer does not warrant the accuracy or completeness of the information contained herein. Thank you for your cooperation.

Real Estate Risk Disclosure:

- There is no guarantee that any strategy will be successful or achieve investment objectives including, among other things, profits, distributions, tax benefits, exit strategy, etc.;
- Potential for property value loss – All real estate investments have the potential to lose value during the life of the investments;
- Change of tax status – The income stream and depreciation schedule for any investment property may affect the property owner’s income bracket and/or tax status. An unfavorable tax ruling may cancel deferral of capital gains and result in immediate tax liabilities;
- Potential for foreclosure – All financed real estate investments have potential for foreclosure;
- Illiquidity – These assets are commonly offered through private placement offerings and are illiquid securities. There is no secondary market for these investments.
- Reduction or Elimination of Monthly Cash Flow Distributions – Like any investment in real estate, if a property unexpectedly loses tenants or sustains substantial damage, there is potential for suspension of cash flow distributions;
- Impact of fees/expenses – Costs associated with the transaction may impact investors’ returns and may outweigh the tax benefits
- Stated tax benefits – Any stated tax benefits are not guaranteed and are subject to changes in the tax code. Speak to your tax professional prior to investing.

Opportunity Zone Disclosures

- Investing in opportunity zones is speculative. Opportunity zones are newly formed entities with no operating history. There is no assurance of investment return, property appreciation, or profits. The ability to resell the fund’s underlying investment properties or businesses is not guaranteed. Investing in opportunity zone funds may involve a higher level of risk than investing in other established real estate offerings.
- Long-term investment. Opportunity zone funds have illiquid underlying investments that may not be easy to sell and the return of capital and realization of gains, if any, from an investment will generally occur only upon the partial or complete disposition or refinancing of such investments.
- Limited secondary market for redemption. Although secondary markets may provide a liquidity option in limited circumstances, the amount you will receive typically is discounted to current valuations.
- Difficult valuation assessment. The portfolio holdings in opportunity zone funds may be difficult to value because financial markets or exchanges do not usually quote or trade the holdings. As such, market prices for most of a fund’s holdings will not be readily available.
- Capital call default consequences. Meeting capital calls to provide managers with the pledged capital is a contractual obligation of each investor. Failure to meet this requirement in a timely manner could elicit significant adverse consequences, including, without limitation, the forfeiture of your interest in the fund.
- Opportunity zone funds may use leverage in connection with certain investments or participate in investments with highly leveraged capital structures. Leverage involves a high degree of financial risk and may increase the exposure of such investments to factors such as rising interest rates, downturns in the economy or deterioration in the condition of the assets underlying such investments.
- Unregistered investment. As with other unregistered investments, the regulatory protections of the Investment Company Act of 1940 are not available with unregistered securities.
- It is possible, due to tax, regulatory, or investment decisions, that a fund, or its investors, are unable realize any tax benefits. You should evaluate the merits of the underlying investment and not solely invest in an opportunity zone fund for any potential tax advantage.

The above material cannot be altered, revised, and/or modified without the express written consent of Urban Catalyst.