Member Only Breakfast: Opportunity Zones, A Developer’s Primer
Friday, March 1, 2019
8:00am registration, 8:30 program start
245 Riverside Ave
Jacksonville, FL 32202
(The old St. Joe Building), River Front Conference Room
$35, ULI Members
$25, ULI Student Members
Join ULI to learn how Corner Lot Development is incorporating opportunity zones in their proformas, and how Chance Partners successfully used the program on a recent project.
Cameron Hooper is the Director of Finance for Corner Lot Development Group and Breeze Homes. Cameron spent 7 years in Atlanta as a Financial Advisor working with institutional corporate retirement plans, pension plans, and professional athletes. Cameron moved to the First Coast in early 2018, and his focus is now geared towards creating opportunities in real-estate development through the use of strategic financing and the utilization of Qualified Opportunity Zones. Cameron played collegiate golf at Coastal Carolina University where he was an Academic All-American and teammates with the world’s #1 ranked golfer: Dustin Johnson. Cameron graduated with honors receiving a Bachelor’s in Business Marketing and a Master’s in Business Administration.
Jeffrey Rosen joined Chance Partners to continue his investment activities in urban neighborhoods and assist in the development of these communities. Mr. Rosen has more than 20 years of real estate investment experience and was most recently, Principal, Investments of CIM Group, LP, a multi-billion real estate private equity fund manager. At CIM Group, Mr. Rosen was a member of the Investment Committee and personally was involved in more than 20 transactions with an aggregate value in excess of $2.0 billion. Mr. Rosen has been involved with many signature urban developments in emerging urban districts such as Washington, DC (NoMa, Rosslyn and Bethesda), Austin, TX (Dowtown and SoCo), Las Vegas, NV (Downtown), Dallas, TX (Uptown) and Hollywood, CA. He was formerly the Director, Capital Markets for Federal Realty Investment Trust (NYSE: FRT) and began his career in the Investment Banking Division of Salomon Smith Barney where he advised real estate companies and developers. In 2017, Mr. Rosen was appointed by Mayor Curry as a Board Member of the Jacksonville Housing Finance Authority. Mr. Rosen received his B.S. from The Wharton School of the University of Pennsylvania.
Each speaker will share insight in their understanding, application, and real-world use of Opportunity Zones for their projects. Opportunity Zones are census tracts designated by state and federal governments targeted for economic development. Developing in these zones may, subject to U.S. Treasury regulations, allow investors to defer federal taxes on any recent capital gains until December 31, 2026, and potentially reduce that tax payment by up to 15%, and pay as little as zero taxes on potential profits if the investment is held for 10 years. Opportunity Zones in Northeast Florida are surprisingly wide ranging and include many up and coming areas that are already primed for development. These incentives should jump start investment in many areas.