AZBigMEdia
With $5 trillion of investable capital sitting on the sideline and not being put into projects across the U.S., opportunity zones – created by the Tax Cuts and Jobs Act – are a way to take advantage of a tax reduction and invest in local communities.
Caliber – The Wealth Development Co., on Wednesday hosted a tour of the GC Square Apartments, 3535 W. Camelback Rd., an example of a project that can be developed in an opportunity zone. The Scottsdale-based firm showcased GC Square as U.S. Rep. Martha McSally, who is running for the U.S. Senate, was joined by Caliber President, COO and Co-Founder Jennifer Schrader.
GC Square is a completely renovated, off-campus apartment community designed for students near Grand Canyon University in Phoenix.
“We have certainly spent the last many months advising on the opportunity zone vehicle. It is not enough to identify the land but rather a careful analysis of the vehicle and timing are crucial. The Zones have spurred reinvestment across the country which I think was the goal. It worked!”
