04/29/2021
Greater New Haven Qualified Opportunity Zones reward real property development in certain locations by delivering the structure for capital gains tax savings which increase significantly over the hold period.
Qualified Opportunity Zones retain this designation for 10 years, up to December 31, 2026, as the gain is reinvested in a Qualified Opportunity Fund. In addition, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold, with maximized returns capped after 30 years.
QOFs provide for redevelopment flexibility with a variety of uses, often expanding healthcare, education, business, employment and entertainment sectors. West Haven and New Haven deliver variety of viable mixed use development opportunities.
Located on the Connecticut Shoreline Milford-New Haven Metro is one of the most exciting regions in New Haven County. Situated on Interstate 95 and Metro North/Amtrak we are approximately 60 minutes from the George Washington Bridge in good traffic, about 100 minutes ($500/month/RT) from Grand Central terminal, and about two hours from Boston, and with access to Hartford and Bradley, or Port Chester Airports. Greater New Haven has seen multiple investments of capital from both state and private sources that have continued to make our local region grow and become more attractive.
West Haven offers the opportunity to leverage the most attractive and accessible public shoreline, minutes from Yale University and other colleges in Connecticut, while realizing significant capital and investment potential available through a Qualified Opportunity Zone. The Anchor Value of open space continues to be an accepted planning a development strategy which increases the value of al business and residential property in relative proximity. There is little value in reducing open space to increase the tax base under a premise of new construction compared to renovating existing improvements.
Greater New Haven Qualified Opportunity Zones reward development in certain locations by delivering the platform for capital gains tax savings which increase significantly over the period when capital gains are directed into this investment structure. When you want to learn more about making a difference in your back yard, give a call and we will explore the possibilities. Sincerely, David Carr. Call 203-877-2704 x 400826, or find me in the cloud.