A roundtable discussion hosted by Commercial Real Estate Women (CREW) featuring Akerman’s Michael Bailkin and Beth Zafonte was covered by the New York Real Estate Journal (NYREJ).
Zafonte spoke of the transformative nature of the Opportunity Zones program. She said that the majority of potential participants are awaiting further guidance from the IRS before investing capital gains. Bailkin discussed the need for the cities to direct additional incentives to projects in Opportunity Zones to achieve the necessary returns to induce investors to these areas.