#United States #Economic Impact #Wayne #Argosy Real Estate #Opportunity Zones

Argosy Real Estate Partners: Analysis of Economic Impact from Opportunity Zones

Argosy Real Estate Partners, a key player in private real estate investment focusing on the lower middle market, has presented insightful findings from its recent Opportunity Zone Economic Impact Analysis. This report highlights the role and the anticipated outcomes of investments in properties designated within Qualified Opportunity Zones.

The Scope of Investment

Over the past five years, Argosy, in collaboration with various joint venture partners, has successfully developed a total of 22 properties located within these Opportunity Zones. These projects aim to provide an impactful supply of housing and commercial facilities by delivering an estimated 3,430 new housing units, 440 hotel rooms, along with a significant addition of 316,431 square feet of industrial space and 50,246 square feet of retail space. The total projected investment for these impactful projects stands at an impressive $1.4 billion.

Economic Contributions

According to the analysis, Argosy's investment in these projects is projected to yield a total estimated economic impact of $2.6 billion, showcasing the potential for substantial transformation within the local economies. This level of investment is expected to contribute $1.1 billion directly through development and operations as the projects come to fruition. Furthermore, the ongoing operations of these projects are anticipated to generate approximately $148.9 million in annual recurring economic output.

Job Creation

Job creation is a key highlight of Argosy's investments in the Opportunity Zones. The analysis estimates that over 1,193 permanent jobs will be created as a result of these developments. Moreover, during the construction phases of these projects, it is theorized that nearly 10,000 temporary jobs will be generated, providing crucial employment opportunities to the local workforce.

Tax Revenue Generation

In addition to the immediate economic stimuli, Argosy’s projects are set to produce significant recurring local and state tax revenue. The forecast predicts a staggering total of $1.3 billion in taxes over the next 30 years, underlining the long-term fiscal benefits these investments will provide to the community.

Statement from Leadership

David Butler, co-CEO and Managing Partner at Argosy, expressed the transformative impact of their Opportunity Zone initiative, stating, "Our programs are pivotal in driving investments into communities that have been historically underserved, enhancing their economic landscapes. We are dedicated to creating high-quality real estate developments that not only meet the diverse needs of these communities, but also ensure long-standing economic vitality."

Methodology

The data presented in the Economic Impact Analysis was gathered in conjunction with The Concord Group, an esteemed economic advisory firm. Utilizing the RIMS II multipliers, a tool developed by the U.S. Bureau of Economic Analysis, the study estimated the employment effects and economic output resulting from these projects, accounting for direct, indirect, and induced effects through careful calculations.

About Argosy Real Estate Partners

Argosy Real Estate Partners specializes in a variety of real estate investments focusing on opportunistic and core plus strategies within the lower middle market. The firm boasts a gross asset value of around $3.8 billion, managing a diversified portfolio that includes multifamily, industrial, retail, and other types of investment property across the United States, Europe, and Asia. Argosy’s commitment to impactful investments continues to set a standard in the industry, as it focuses on fostering growth while delivering robust returns for its investors.

For further details, visit www.argosyrep.com.