An article by Tom Acitelli that appeared in The New York Times on August 20, 2019, may be of interest to investors and developers. “How Opportunity Zones and Co-Working Spaces Joined Forces” tackles an issue that some developers are encountering: “Opportunity zones were created to spur development in distressed neighborhoods, but developers in some areas are struggling to find tenants for their new properties.”
As noted in the article, “Co-working spaces are a natural draw, enticing start-ups and established companies looking for short-term, flexible office space. Marry the investment via the zones with such entrepreneurial spirit, and the co-working spaces can help incubate the economic turnaround the distressed areas need.”
Of interest is that New Orleans-based co-working operator, Launch Pad is “raising an opportunity zone-focused venture fund to invest in companies in those zones, including in firms that might not be leasing space from Launch Pad.”
Opportunity Zone Regulations
For more information on opportunity zone regulations as well as links to LED’s new opportunity zone web portal and other Louisiana resources, check out the following articles by associate Margaret Glass.