The Native Realty CEO shared his expertise on the impact of the federal government finalizing the rules for local opportunity zones. The clarified rules are expected to result in renewed interest in utilizing the program.
Latest opportunity zone rules give developers, investors breathing room, experts say
The opportunity zone program took effect in 2018 but has gone through multiple revisions
“The thought was before you had to put all investment in improving an existing structure,” Jaime Sturgis, founder and CEO of Fort Lauderdale-based commercial real estate brokerage Native Realty, said. “Now, you can put that money towards building an adjacent, ground up development. The idea is that a rising tide lifts all boats.”