LOCUS, Latin for “place,” is a national coalition of real estate developers and investors who advocate for sustainable, equitable, walkable development in America’s metropolitan areas.
Across the country demand is high for real estate in sustainable, walkable urban places. Yet too often, public policy hampers developers’ ability to build the development that would meet this demand. LOCUS brings together real estate developers and investors from across the country to change policy at the local, state, and federal level and to build neighborhoods that are more economically, socially and environmentally sustainable for America’s future.
Last December, the Tax Cuts and Jobs Act created a new community development program aimed at encouraging long-term private capital investment in America’s low-income urban and rural communities. Introduced by Senators Cory Booker (D-NJ) and Tim Scott (R-SC), the federal Opportunity Zones program provides three scalable tax incentives for investors to re-invest their unrealized capital gains into Opportunity Funds dedicated to investing in distressed communities.
To help ensure the new program delivers on its promise to improve lives by improving communities, we created the LOCUS Opportunity Zone Navigator, an easy-to-use, interactive tool for the individuals and organizations interested in real estate, policy, and business, economic, and community development activities in America’s newly designated Opportunity Zones. Along with our additional Opportunity Zones resources and recommendations, our map will help you understand:
- What are Opportunity Zones and where are they?
- What’s in them and who calls them home?
- What is an Opportunity Fund and how can you create one?
- What type of investment and revitalization opportunities are available in each Opportunity Zone, based on a variety of their economic, environmental, demographic, housing, and infrastructure characteristics?
- What can cities, philanthropies, advocates, and the private sector do now?
Pres Kabacoff, co-founder and Executive Chairman of the Board of Directors of HRI Properties, shares more about his experience as a member of LOCUS’ Rebuild America’s Neighborhoods campaign. Pres discusses the campaign’s work influencing recent federal legislation, upcoming opportunities for action, and more.