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NCSHA Opportunity Zone Fund Directory Expands to 54 Funds, $15 Billion in Investment

Published on November 30, 2018 by James Tassos
NCSHA Opportunity Zone Fund Directory Expands to 54 Funds, $15 Billion in Investment

NCSHA released a significantly expanded edition of its Opportunity Zone Fund Directory today, including details on 54 Qualified Opportunity Funds (QOFs) formed to attract Opportunity Zone investment in designated high-poverty neighborhoods.

The directory’s latest edition includes 20 new QOFs and details on each fund’s management, organization, size, investment focus, and geographic focus.

The 54 QOFs featured in the directory represent more than $15 billion in anticipated investment. Funds range in size from $1 million to $3 billion, with an average fund size of approximately $280 million. Nearly two-thirds of the funds (35 of 54) target specific states or regions, while the remaining 19 funds are open for investment nationwide. Initial geographic focus appears strongest along the East Coast, including several funds specifically focused in New York and Florida.

The most common investment focus reported by the funds is multifamily residential development (34 of the 54 funds), followed by commercial real estate (32) and mixed-use development (28). Other common anticipated investments include affordable housing (15 funds), economic development (15), hospitality development (15), small business development (15), community revitalization (12), and workforce housing (11), among other areas. The majority of funds plan to focus investment in more than one area.

NCSHA’s Housing Finance Agency (HFA) members are actively exploring how Opportunity Zone designation could generate new capital investment in their states, and how such investment could leverage HFA affordable housing and economic development activity in designated zones.

NCSHA will update the directory as additional QOFs are announced. To add an Opportunity Fund to the directory, please complete this form.

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