Site Development Strategy Key to Early Opportunity Zone Success
February 4, 2019
Marketing helps but a fancy web site cannot replace a strong site development plan that illustrates an Opportunity Zone is prepared for development. Creating an Opportunity Zone site development plan involves five steps that includes the creation of site plans and infrastructure finance strategies, enacting land use entitlements and tax incentives, advocating for a state and local Opportunity Zone public policy agenda, marketing the Opportunity Zone and seeking professional guidance to operate an Opportunity Zone by seeking investors.
Site plan and infrastructure finance strategies are an essential first step for Opportunity Zone development as all these 8700 census tracts are competing for investors from around the U.S.. Early Opportunity Zone investment is likely to travel to Opportunity Zones with strong site development plans that outline target industries and infrastructure finance strategies. Investors want to understand the likelihood of a complicated site generating a profit. This profit is tied to the succeed gaining in value. The value proposition is most likely connected to attracting an end-user with an interest in the site but that end user will not move to an Opportunity Zone unless the infrastructure, zoning, water and sewer agreements and local and state tax incentives are in place.