VACANT LOT, ZONED RT4. Opportunity Zone corner lot in Halyard Park adjacent to Brewers Hill historic district. Only 5-min drive (7 blocks) north Fiserv Forum and Water Street downtown. Zoned RT4 for residential development up to 4 attached dwelling units. Two blocks from the commercial corridor of Historic Martin Luther King Dr/3rd Street which the Milwaukee Street Car expansion connecting the Bronzeville district to downtown to Walker Point route is scheduled for completion in 2024. Walkable neighborhood with many attractive single-family houses and condos, priced between $300k-500k nearby. The St Francis of Assisi Roman Catholic Church across the street is planning a large residential hall on site. A number of large residential and commercial developments is underway in the district. ::::::::::::::::::::::: The Opportunity Zone program provides federal tax incentives as follows: 1) A temporary tax deferral for capital gains reinvested in an Opportunity Fund. The deferred gain must be recognized on the earlier of the date on which the opportunity zone investment is sold or December 31, 2026. 2) A step-up in basis for capital gains reinvested in an Opportunity Fund. The basis of the original investment is increased by 10% if the investment in the qualified opportunity zone fund is held by the taxpayer for at least 5 years, and by an additional 5% if held for at least 7 years, excluding up to 15% of the original gain from taxation. 3) A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in a qualified opportunity zone fund, if the investment is held for at least 10 years. (Note: this exclusion applies to the gains accrued from an investment in an Opportunity Fund, not the original gains). Contact Don at 414-491-8424.
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