The Opportunity Zone concept is receiving major attention in the real estate industry. Experts predict there will be a substantial amount of capital that will be deployed in this space in coming months. Earlier in 2018, after receiving recommendations from governors, the Treasury Department designated nearly 9,000 census tracts as Opportunity Zones across urban and rural areas throughout the United States (including both states and territories). It is estimated that approximately 35,000,000 Americans live in Opportunity Zones, which have higher poverty and unemployment rates than the rest of the nation.

It is not surprising that many of the locations in Opportunity Zones are economically viable for development since in many cases they are on the outskirts of an urban area that is in the process of being redeveloped. Such is the case in Downtown Miami, Florida, where there are several locations located within the fringe of the Opportunity Zones that are in the process of being developed as mixed-use projects that are literally within blocks of major existing developments. For reference purposes, the Opportunity Zones locations in Downtown Miami generally range from (East) 1st court to (West) NW 7th Avenue; (South) North River Drive to (North) NW 5th Street and from (East) Biscayne Boulevard to (West) North Miami Avenue; (South) NE 15th Street to (North) NE 17th Street.