With the recently released regulations governing Opportunity Zones by the IRS, Globest.com turned to Joshua Kaplan, corporate & tax partner at the Miami-based law firm Bilzin Sumberg for some guidance on Opportunity Zones and whether this federal program can make a real difference in the economy of South Florida.
The cranes are everywhere in Doral.
The city is experiencing an unbelievable construction boom never seen before in its 16-year history. Commercial spaces, new hotels, industrial warehouses, residential communities, and more. Demand from businesses and residents is at an all time high, and as a result, Doral is the fastest growing city in Florida and one of the fastest in the nation. Growth is in the DNA of the city.
The key industry sectors leading the charge are real estate and construction.
Investors and developers in Miami-Dade County have been pouring money into Opportunity Zones.
From April through September, property sales in those areas tallied $942 million, a 25 percent increase from the same time in 2017, according to The Real Deal’s analysis of records.