Opportunity Zones provide federal capital gains tax incentives to private investors who finance real estate, infrastructure, or businesses located in designated census tracts across the country. In Baltimore City, there are 42 designated Opportunity Zone census tracts. To find Opportunity Zones in Baltimore and Maryland click here.
The Baltimore Development Corporation is equipped to assist investors, project sponsors, and communities interested in Opportunity Zones. Baltimore was one of the first cities in the country to hire a local Opportunity Zones Coordinator. The OZ Coordinator works out of BDC and is tasked with connecting investors with investment opportunities. If you are an investor or project sponsor, send an email to info@BaltimoreDevelopment.com to request an introduction to the OZ Coordinator.
BDC is interested in partnering with impact investors committed to creating jobs and strengthening Baltimore’s Opportunity Zone neighborhoods. BDC’s OZ Prospectus provides an overview of Opportunity Zones in Baltimore and example investments and projects.
BDC has been pleased to partner with a number of impact investors bringing Opportunity Zone investments to Baltimore neighborhoods. Here is a list of some of the Opportunity Zone investors (Qualified Opportunity Funds) working with BDC in Baltimore.
Arctaris Impact Investors has invested in growing minority-owned and led businesses in Baltimore, including Up To Date Laundry and Market Fresh Gourmet.
Verte Opportunity Fund invests in startup technology firms. Their Baltimore portfolio includes Galen Robotics, Outlook OVFX, Sonosa Medical, and the Maryland Development Center.
CEI-Boulos Capital Management is a real estate investor focused on social impact that is the lead investor in Baltimore’s first-ever multifamily, zero energy development. The project includes 20 units of affordable rental housing and 4 commercial storefronts located in Baltimore’s Penn North neighborhood.
Blueprint Local is an impact investor with a focus on community transformation. They are a key investor in the redevelopment of Baltimore’s Penn Station.
Prudential Financial made its first Opportunity Zones investment in the Yard 56 mixed-use project in East Baltimore.
BDC works with partners at the city and state levels to bring additional resources and incentives into Opportunity Zones projects. For example, BDC helps investors and project sponsors connect with the city’s Neighborhood Impact Investment Fund as a co-investor in Opportunity Zones projects. BDC also works with the Maryland State Department of Commerce to help Opportunity Zones access unique state tax credit enhancements that give Maryland’s Opportunity Zones a competitive advantage.
For more information on Opportunity Zones in Baltimore, email info@BaltimoreDevelopment.com.
