Opportunity Zone Investing in Silicon Valley Webinar
Erik Hayden joined Jimmy Atkinson of OpportunityDb to talk about opportunity zone investments and Urban Catalyst's projects in downtown San Jose's opportunity zone. Check out some highlights below:
- Opportunity Zone Funds offer unique tax benefits If you invest capital gains within 180 days from the sale of a business, stock or real estate into an OZ Fund, taxes on capital gains are waived for six years, and after 10 years, all profits from the OZ Fund are federal tax-free.
- Why San Jose remains a resilient market The pandemic has not changed the fundamentals of San Jose and downtown real estate, driven by the overall macroeconomic trends of Silicon Valley. Bloomberg recently rated San Jose the No. 1 U.S. market poised to bounce back from COVID-19. And based upon record-breaking recent sales prices for high rises in downtown San Jose, it is apparent that the San Jose real estate market is a flight to safety.
- Southward Tech Migration to downtown San Jose Erik said Urban Catalyst chose to invest in San Jose because of the consistent migration of large tech companies southward.
For example, in the past 18 months, Google has purchased $450 million worth of property in San Jose and plans to build 7.5 million square feet of office space. The city is a prime choice for tech expansion in order to attract top talent. Many of these workers are millennials who want the combination of an urban environment, less traffic, an office to which they can bike, and affordable homes. San Jose has it all.
- Urban Catalyst's ground-up development projects in downtown San Jose
Have any questions about investing into downtown San Jose Real Estate and the Opportunity Zone program? Please reach out to our team!