WAYNE, PA — Argosy Real Estate Partners has announced the findings of its Opportunity Zone Economic Impact Analysis, which details the significant economic contributions of its development efforts over the past five years.
Through partnerships with joint venture partners, Argosy has developed 22 properties in Qualified Opportunity Zones, with a total project investment of $1.4 billion. These projects are expected to deliver 3,430 new housing units, 440 hotel rooms, 316,431 square feet of industrial space, and 50,246 square feet of retail facilities.
Key findings from the analysis reveal an estimated total economic impact of $2.6 billion, including $1.1 billion in direct economic contributions from the development and operation of projects. The developments are projected to create 1,193 permanent jobs and around 10,000 temporary construction jobs. Additionally, the ongoing operations of the projects are expected to generate $148.9 million in annual economic output and $1.3 billion in recurring state and local tax revenue over the next 30 years.
“Argosy’s Opportunity Zone program has played a meaningful role in catalyzing investment in underserved areas nationwide,” said David Butler, co-CEO and Managing Partner of Argosy Real Estate Partners. “The Argosy team is proud to deliver high-quality real estate projects that foster economic vitality, serve diverse community needs, and create enduring value for local economies nationwide.”
The analysis, conducted in partnership with The Concord Group, spotlights the broader impact of Argosy’s investments, which aim to support economic growth in underserved communities while generating attractive returns for investors. The calculations relied on RIMS II multipliers to evaluate the direct, indirect, and induced economic effects of these developments.
Argosy Real Estate Partners’ Opportunity Zone projects are positioned as a dual-force solution, addressing community needs while driving meaningful economic outcomes.
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