By Lorraine Longhi, Catherine Reagor, Paulina Pineda and Joshua Bowling, Arizona Republic
Eighty-five metro Phoenix neighborhoods have been designated opportunity zones based on federal rules that allow wealthy investors to snag tax breaks if they invest in these areas.
These zones include places where Nike, Amazon, Arizona State University and Phoenix Rising soccer club are launching major developments.
They also include areas where thousands of apartments and a growing number of hotels are under construction or planned.
Here are five areas around the Valley where residents are likely to see big-ticket developments go up in the next few years.
“Existing projects and those in the pipeline in and around these qualified opportunity zones provide further support for qualified opportunity funds, and their investors, to pursue tax-advantaged projects in these areas.”