Arctaris is pleased to announce an equity investment in a $30 million opportunity zone hotel-to-residential conversion opportunity in downtown Baltimore. Arctaris Impact’s investment will be used to convert a formerly abandoned hotel into a vibrant 303-unit multifamily development, addressing the city’s pressing housing shortage. The transaction marks Arctaris Impact’s fifth investment in Baltimore.
You can read more about the transaction here.
Opportunity Zones have already invested over $100 billion in struggling communities, creating vibrant urban areas and new job opportunities. Now is the time to expand and make this initiative permanent. By expanding the program, Opportunity Zones have the potential to generate even greater economic growth and provide more benefits to underserved areas. Arctaris Managing Partner, Jonathan Tower, and Steve Glickman, co-founder and former CEO of the Economic Innovation Group, propose several ways to grow and enhance the already effective and impactful program.
Let’s make Opportunity Zones a lasting solution for America’s most neglected communities.
You can read the full whitepaper, originally published by Governing Magazine, here
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