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Erik HaydenAug 28, 2020 10:54:23 AM1 min read

Private Investments in Opportunity Zones Reached $75 billion, White House Says

map of opportunity zone locations within the USA

White House officials announced earlier this week that the federal Opportunity Zone initiative spurred $75 billion in private capital investment into local communities between 2017 and 2019.

Calling the impact progress report “phenomenal,” Scott Turner, White House Opportunity and Revitalization Council Executive Director, said “it’s a blessing to hear the people of America utilized this tool and invested in communities that have not seen investment in decades.”Opportunity Now

Here at Urban Catalyst, we’re thrilled to play a role in this positive progress by investing more than $850 million in the downtown San Jose Opportunity Zone with our seven projects.

Here are the highlights from the report by the Council of Economic Advisers:

  • Officials estimate the $75 billion in private investments will lift 1 million Americans out of poverty.
  • Private equity investment in businesses located in OZs grew 29% relative to eligible communities not selected as OZs.
  • Values for residential real estate located within OZs increased by 1.1%. This uptick could provide an estimated $11 billion in new wealth for residents who own their homes.

"There's inspiration (as a result of these Opportunity Zones) that is taking place across our country because people are starting businesses. People are being hopeful that they too can realize the American Dream no matter what neighborhood or community they live in or come from.” ~ Scott Turner, Executive Director of the White House Opportunity and Revitalization Council

Contact us today to learn more and invest in our Opportunity Zone Fund and give back to your community!

Contact us to learn more

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Erik Hayden

Responsible for developing more than $3.5 billion in real estate projects, including over 2,300 residential units in the California Bay Area, Mr. Hayden has experience in acquisition, contract negotiation, due diligence, risk assessment, financing, construction, and disposition of multifamily, single family and large mixed-use and master planned developments. He maintains relationships with a broad network of property owners, enabling him to identify and acquire prime investments. Mr. Hayden also has expertise in navigating projects through the entitlement process by working with elected officials, community groups, and political organizations to gain support and get projects approved.

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