Co-chair of FBT Gibbons’ multifamily housing team, Brad Butler, was quoted by Multi-Housing News about how new Opportunity Zone requirements could help drive housing development. The article, “New Census Data Points to Decline in Opportunity Zone Eligibility,” examines how more stringent eligibility criteria have led to forecasting a significant decline in Opportunity Zones (OZ) in the next census tract.
As a result of stricter median income requirements, “We’ll likely see development in more truly blighted areas than we did during OZ version 1.0,” Butler explains. “Our country is experiencing a housing shortage, and the reduced number of OZs presents a great opportunity to create housing in areas that truly need it by leveraging OZ benefits.”
FBT Gibbons’ multifamily housing team has represented parties in billions of dollars of transactions across nearly all 50 states. The team boasts considerable depth and breadth in a variety of disciplines, including real estate, commercial finance, corporate law, tax law, litigation, bankruptcy and securities law. Bringing a solutions-based approach to multifamily transactions, they work with developers, investors, lenders, and other key stakeholders to close deals quickly and seamlessly, while resolving disputes as they arise. Learn more.