RCA in the News

Developers Look to Hit Tax-Break ‘Jackpot’ in Opportunity Zones

The Wall Street Journal / October 23rd, 2018

The Wall Street Journal reports: San Diego developer Moe Ebrahimi paid $720,000 late last year for a site where he planned to build apartments. He expected to own it for years, believing the Logan Heights neighborhood would gentrify.

That all changed earlier this year, when Mr. Ebrahimi put the land up for sale with an asking price of $1 million.

The developer shifted tactics after learning that anyone buying his property would be eligible for lucrative tax benefits. That’s because his land resides in one of the nearly 9,000 so-called “opportunity zones” across the U.S. intended to stoke economic development in low-income areas.

View the full article in The Wall Street Journal: Developers Look to Hit Tax-Break ‘Jackpot’ in Opportunity Zones