NCSHA Releases Expanded Opportunity Zone Fund Directory
NCSHA released a significantly expanded second edition of its Opportunity Zone Fund Directory today, including details on 34 Qualified Opportunity Funds (QOFs) formed to attract Opportunity Zone investment. Opportunity Zones are a new community development tool authorized in the Tax Cuts and Jobs Act of 2017 to encourage investment in designated high-poverty neighborhoods.
This edition of the directory includes specifics on each fund’s management and organization, size, investment focus, and geographic focus. Fifteen new QOFs formed since NCSHA’s initial directory release have been added.
The 34 QOFs featured in the latest directory represent more than $10 billion in anticipated investment. While some funds are open for investment nationwide, the majority target specific states or regions. The most common investment focus is commercial real estate (24 of the 34 funds), closely followed by multifamily residential development (23) and mixed-use development (22). These funds also specified investment in economic development (12 funds), affordable housing (11), workforce housing (10), community revitalization (9), and small business development (9), among other areas.
NCSHA’s Housing Finance Agency (HFA) members are actively exploring how Opportunity Zone designation could generate new capital investment in affordable housing, economic development, and other activities in their states, and how such investment could leverage HFA resources 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.
The Opportunity Fund Directory and related resources are accessible to the public on the Opportunity Zone resource page on NCSHA’s website. Please contact NCSHA’s Jim Tassos with questions or comments.