Seattle opportunity zone development backed by Pinnacle Partners
In mid-October, Seattle’s first Opportunity Zone development broke ground with backing from Pinnacle Partners and local developer Nitze-Stagen.
As part of the Tax Reform Act of 2017, the Opportunity Zones Program helps drive capital to designated communities across the nation by offering substantial capital-gains tax breaks for investors who invest in any of the 8,000 designated low-income census tracts. Investors can defer paying capital gains taxes on the money they invest in an Opportunity Zone project, and if they keep their money in the zone long enough, they won't be . . .
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