From Fresh Water Cleveland: For the last two decades, Cleveland’s Fairfax neighborhood has been master planning for a renaissance—and now its golden age is in sight. With an ideal location on the $331 million Opportunity Corridor and an array of developments and initiatives coming to fruition, the area is preparing to round the bend on a four-pronged Strategic Investment Plan that began in 2008.
From Crain’s Cleveland Business It was considerably easier to raise funds for the project with the Opportunity Zone," Smythe said. "It's a strong incentive for the investors and a great way to promote economic development in economically distressed areas."
Under the Opportunity Zone program, investors with capital gains may shelter them from federal taxes by investing in a property or business in a designated Opportunity Zone area.
From Crain’s Cleveland Business “Its principals hope the $23 Million project will create a natural gateway into Tremont.”
From Cleveland.com “The Greater Cleveland Partnership announced Monday it will create a $50 million real-estate investment fund intended to spur private investment in economically distressed parts of Cuyahoga County.”
“City, county and municipal leaders in the Cleveland, OH, area are partnering with banks, investors, philanthropists and nonprofit groups in what’s collectively known as Opportunity CLE, a “cohesive economic development ecosystem unlike any other in the nation.” Together, they’ve drafted their own Investment Prospectus, which includes a digital portal for investors to connect and submit proposals.”