California is already facing a severe housing shortage, and the new Opportunity Zones tax incentive is being closely examined by state agencies and local community leaders for its potential to accelerate the development of affordable housing units across the state and for risks that the tool could accelerate unwanted gentrification.
There are many variables that will influence outcomes of investment in Opportunity Zones; below are some resources that explore those issues:
- Brookings Institute: The early results of states’ Opportunity Zones are promising, but there’s still room for improvement
- CityLab: The Obscure Tax Program That Promises to Undo America’s Geographic Inequality
- Curbed: How Opportunity Zones could become a big catalyst for inner-city development
- Fixing America’s Forgotten Places