Developments in D.C. have already begun to utilize opportunity zone investments, but the money is expected to begin flowing into projects at a faster rate after the federal government released a second set of regulations Wednesday for the program.
D.C. is the most attractive area for opportunity zone investment on the East Coast, according to a March study from CommercialCafé. The regulations and the program’s implications for the D.C. region will be discussed June 26 at Bisnow’s Opportunity Zones Summit.
From Anacostia to Brentwood to Buzzard Point, many D.C. neighborhoods have large-scale, mixed-use projects already planned that could utilize opportunity zone investment. Bisnow found eight major developments planned in D.C.’s opportunity zones.
Columbian Quarter Redbrick LMD A rendering of Redbrick’s 2.3M SF Columbian Quarter development on Poplar Point Developer: Redbrick LMD Location: Near the Anacostia Metro station An 8-acre piece of land on Poplar Point is planned for a 2.3M SF development. The Columbian Quarter project would include five buildings with 1.6M SF of office space, 700 residential units and 52K SF of retail. The developer filed a new zoning application in October, after having its initial approval appealed, that would allow buildings of up to 130 feet tall.
Click here to read the rest of the article written by Jon Banister over at Bis Now