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December 18, 2018

‘Opportunity zones' often aren't high poverty areas

  • Early investor interest in the program appears focused on zones that qualified for the tax breaks despite already drawing substantial investment.
    • By JEFF HORWITZ and STEPHEN BRAUN
    Associated Press

    WASHINGTON — A real estate investment firm co-founded by President Donald Trump's son-in-law and adviser, Jared Kushner, is betting big on the administration's Opportunity Zone tax breaks but isn't that interested in steering its investors to the poorest, most-downtrodden areas that the program seeks to revitalize.

    New York-based Cadre, in which Kushner still holds at least a $25 million passive stake, made it clear to potential investors in recent marketing materials that it doesn't plan to look for development deals in most of those zones because of their “unfavorable growth prospects.”


     
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