Kingsway Development Opportunity Zone
IF YOU ARE LOOKING FOR
CAPITAL INVESTMENTS,
THE KINGSWAY DISTRICT IS
THE LAND OF
OPPORTUNITY
Overview
What is an
Opportunity Zone?
An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service.
What are Opportunity Zone Funds?
Opportunity Zone Funds, or **Qualified Opportunity Funds (QOFs)**, are investment vehicles that let investors reinvest capital gains into designated distressed areas to defer taxes and potentially eliminate federal capital gains tax on the investment’s future growth, while financing real estate or businesses that support long-term community development.
What is special about the Kingsway Zone?
The Kingsway Zone is a qualified Opportunity Zone recognized by the Department of Treasury. It is made up of 207 acres of both commercial and residential properties currently under a 10 year redevelopment plan which began July 2018. Projects within the redevelopment area can qualify for a 10 year tax abatement, historic tax credits and other State and Federal subsidies created specifically for urban renewal.
About
The new Opportunity Zone legislation makes the program permanent rather than sunsetting it in 2026, but reshapes the tax benefits going forward: investors can still roll capital gains into Qualified Opportunity Funds and receive tax-free appreciation after a 10-year hold, however the old 5- and 7-year basis step-ups are gone and the deferral mechanics are reset under a new framework rather than tied to a single 2026 recognition date. The updated rules place greater emphasis on long-term community impact, reporting, and compliance, while preserving the core incentive that matters most to investors—unlimited tax-free upside on future gains—making Opportunity Zones a standing, long-term development tool instead of a one-time tax shelter rush.