Event Ended On: Wednesday March 20 2019
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Coffee, Breakfast, & Networking
Impact Investing Through Opportunity Zones
Understanding the program and identifying how to maximize investment and development to grow economies and build communities
OZ Tracts in Seattle & Puget Sound
Examining the region's approved OZ tracts. What can residents, investors, and developers expect?
Kimpton Hotel Monaco Seattle
1101 Fourth Avenue
Seattle, WA 98101
Ballroom: Paris Ballroom, Lobby Level
Parking Information: $12 Discounted Valet Parking
When President Donald Trump signed the Tax Cuts and Job Act bill in December 2017 a groundbreaking piece of legislation offering the CRE space new investment and development opportunities came into effect. Now, one year later, those opportunities are crystalizing. Though brought to reality by President Trump and the Government, the idea was originally voiced in a 2015 white paper from the Economic Innovation Group, a D.C.-based think tank that is now working closely with states to help implement the program. The bill allows the Governor of a state to designate census tracts (which house approximately 4,000 citizens) as Opportunity Zones. Investments made by individuals or companies through specially designated funds into these zones would be allowed to defer or eliminate federal taxes on capital gains. In Seattle and the surrounding Puget Sound, Governor Jay Inslee approved 139 census tracts – many of which lie in South Seattle, Tacoma, and Olympia – for Qualified Opportunity Fund investments, meaning more than 160,000 citizens can – and will – reap the benefits. As for investors and developers, the competition to build luxury apartments, high-rise hotels, skyscraper office buildings, and premium retail has never been more fierce. As such, these designated census tracts – Opportunity Zones – represent a new, untapped, well of opportunity. Join us as we discuss Opportunity Zones from soup to nuts. Where they are, what they are, how they will reshape neighborhoods, and how they can be invested in and developed on.
1. What are Opportunity Zones and what is a Qualified Opportunity Fund? What are the benefits of investing in OZs and how does OZ investing work?
2. How do developers, investors, and civic organizations expect OZ projects to spur economic development in Seattle and the surrounding Puget Sound region?
3. How do the OZ opportunities in Seattle & Puget Sound differ from other parts of the country and what makes the tracts in the Puget Sound unique?
4. Of the real estate tracts designated as Opportunity Zones in the state of Washington, which are most ripe for investment and what makes them more desirable (and possibly profitable) than the others?
5. What benefits / challenges does the regulation create for investors and what groups are best positioned to take advantage of the program?