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28 Petronelli OZ Fund LLC

The Opportunity Zone Fund Directory is a compilation of publicly-announced funds formed to attract investment in Opportunity Zones (OZs). NCSHA is tracking only multi-project OZ funds. To learn more about a fund included in this directory, click on the name.

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Directory Stats as of May 7, 2021:

233 Total Funds $48.1 Billion Total Anticipated Investment 60% of Funds Target Investment in Affordable Housing and Community Development

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Fund Name28 Petronelli OZ Fund LLC
Fund Manager or Organizer(s)Concord Square Planning & Development, Inc.
Fund Size$1,900,000
Investment Focus
Commercial Real Estate, Multifamily Residential
Geographic Focus
Additional Fund Details

Plan to develop an Opportunity Zone building located at 28 Petronelli Way, Brockton, MA, into 18 market-rate rental housing apartments. The Property is located in the heart of downtown Brockton, next to the commuter rail station to Boston (35 minutes travel time). It will directly serve the rental housing needs of the Boston region’s growing economy. The building is a historic four-story brick structure with an elaborate Romanesque Revival façade. The project will enjoy historic and development tax credits. It will also contribute to and benefit from the City’s plan to completely change the downtown area's perception to that of a thriving, attractive place to live and do business. Today 500 new housing units have been built, are under construction, or about to be under construction. The majority are or will be market-rate units. A significant driver of this turnaround is the increasing demand for housing options near transit stations.

Organization Details

Concord Square Planning & Development, Inc. is a real estate development and planning firm specializing in smart growth and adaptive reuse projects. It has extensive experience developing, finance, constructing, and managing multifamily housing, particularly utilizing historic tax credits and the opportunity zone program. Also, Concord Square and Ted Carman, the company’s President, have supported regional development and housing efforts through consulting work for over fifty municipalities and private entities and have worked on major public policy issues.
Currently, Concord Square is focused on pursuing residential development projects in smart growth locations around New England. The company has two ongoing projects located in Brockton, MA, adjacent to the downtown’s

Fund Contact....
NameCharles Steele
Job TitleSponsor
Phone(203) 536-7127
EmailEmail hidden; Javascript is required.

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