Bisnow: Tampa's Evolution 2019

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Bisnow: Tampa's Evolution 2019

Thursday, August 22, 2019 - 8:00am to 11:00am

Overview

Development is thriving all over Tampa! From luxury apartments to towering office buildings and retail centers, all of these projects are being delivered at a rapid rate. This has led to suburban sprawl in the Tampa Bay area, but several developers are attempting to change that by revitalizing Tampa's submarkets like Uptown into destinations. Uptown District has grand plans to become a tech and innovation hub, thanks to close proximity to USF and funding from private-public partnerships like !p. With all of this new development happening, an amazing opportunity can make building in specific neighborhoods even more rewarding. The Opportunity Zones tax incentive was included in the Tax Cuts and Jobs Act that President Trump signed into law in December 2017. This law provides tax benefits to investors that place unrealized capital gains into Opportunity Funds, which then invest in Opportunity Zones. On April 17th, the IRS released new regulations that clarify among other things, that an investor can dispense individual assets within a QOF and still see discounts on their capital gains tax. That provision unlocks billions of dollars of capital that was waiting for an indication that multi-asset funds would not create taxable events every time money shifted between assets. Other updates include: - Treasury will allow businesses to qualify if at least 50% of the hours employees work are within the qualified opportunity zone - No penalty if an investor dies and passes an interest in an OZ Fund to their heirs - 180 day rollover for capital gains from real property begins on the last day of tax year - Unimproved land does not need to be substantially improved - Leases are ok, but triple net leases are not Get ready to learn about this great new law, how to capitalize on it, what updates Florida legislature has provided, as well as risks to consider before investing. Hear from some of Tampa's biggest names in CRE who are currently developing in Opportunity Zones, and bring plenty of business cards!
 

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Organizer / Producer

Tampa, FL
United States