Downtown Indy: The land of opportunity?
A report from Real Capital Analytics found that nearly 30.0 percent of Indianapolis’ commercial market is located within an Opportunity Zone.
May 08, 2019
- Following the creation of The Tax Cuts and Jobs Act of 2017, Governor Holcomb selected 156 census tracts in Indiana to be deemed Opportunity Zones. 36 are in Marion County with 21 clustered together in Downtown Indy.
- A report from Real Capital Analytics found that nearly 30.0 percent of Indianapolis’ commercial market is located within an Opportunity Zone, one of the highest shares in the nation.
- With such a high proportion of our market in an Opportunity Zone, it would make sense to see new investors come to Indianapolis to benefit from capital gains tax incentives through this program. In addition to real estate development, Opportunity Funds could also invest in Downtown businesses that meet specified criteria.
- But investors will have to act quick, as December 31, 2019 is the last day an Opportunity Zone investment can be made and qualify for a full 15.0 percent capital gains tax reduction.
Source: Internal Revenue Service, Real Capital Analytics, JLL Research