When it comes to investing in Opportunity Zones, Dallas is one of the top places to be, according to a new report from Cushman & Wakefield.
Out of 45 real estate markets around the country, Dallas is third for economic momentum from the federal tax program, the report found. Orlando came in first with Austin behind it.
Cushman & Wakefield looked at 2,700 of the nation’s 8,700 designated zones and analyzed taxes and regulations, population growth forecasts, employment growth and household income, as well as office and multifamily inventory, vacancy and growth.
Dallas, which has 18 zones, is well positioned for investments made in those areas thanks to a growing population and the tax and regulatory environment, the report said.
“Dallas has extremely strong fundamentals, including a pro-business climate, strong job growth, a low cost of living, a diversity of industries and companies, and good quality of life,” said Beth Lambert, executive managing director at Cushman & Wakefield, in a prepared statement. “It’s still primed for traditional investing, which translates to promising Opportunity Zone development.”
Multifamily housing is likely to be the first stage of development for many investments made in the designated zones, Lambert said.
“What usually comes first is the rooftops, and then all the things that support the rooftops – needs-based retail such as grocery stores,” she said.
By Claire Ballor – Staff Writer, Dallas Business Journal