The Opportunity Zone program, established by the Tax Cuts and Jobs Act on December 22, 2017, encourages long-term investment in economically distressed communities nationwide. Downtown West was designated as an Opportunity Zone by the governor of Missouri and certified by the Secretary of the U.S. Treasury in early 2018, allowing Twain to fund a portion of the rehabilitation through a Qualified Opportunity Fund. Twain is among the first investment firms to establish and invest in a Qualified Opportunity Fund.
In addition to expanding Twain’s footprint, the new office will provide a much-needed update for its employees with amenities such as an outdoor patio, shared conference spaces, lactation rooms, multiple kitchens, call rooms, garage parking, and an abundance of natural light with large windows and skylights. Stephanie Deterding, Twain’s Associate General Counsel said, “We are excited to leverage our expertise in tax credits and Opportunity Zones to benefit our new building and the surrounding community.”
2200 Washington serves as an example to the community and investors on how to successfully finance a triple bottom line real estate development. The transformation of 2200 Washington, from a vacant historic building into an energy efficient office space, demonstrates how local businesses can effectively participate in the redevelopment of an underutilized neighborhood.
About Twain Financial Partners:
Twain Financial Partners is an investment management firm located in St. Louis, MO with more than $4 billion in assets under management within the public-private partnership sector. Twain specializes in state and federal historic tax credit investments, state low-income housing tax credit investments, and C-PACE financing.
SOURCE Twain Financial Partners
Originally Published on December 21, 2018 at 11:15AM
Article published originally via “opportunity zones” – Google News https://www.prnewswire.com/news-releases/opportunity-knocks-and-twain-answers-with-win-win-deal-that-helps-community-and-company-300770185.html