Urban Station | Phase II

Capitalizing on an Opportunity Zone

As part of the 2017 Tax Cuts and Jobs Act, Indiana established Opportunity Zones that incentivize investment in what were designated as economically distressed communities. Researching projects within those areas, Birge & Held identified Urban Station | Phase II — a multifamily, mixed-use development envisioned to revitalize an underutilized strip mall to spur economic development. Based on in-depth research and analysis of the market, Birge & Held acquired the asset in the early stages of development. After revising the project scope and timeline and anticipating significant efficiencies through in-house property management and construction divisions, Birge & Held is developing Urban Station | Phase II with privately syndicated equity.

Navigating Regulations

Birge & Held successfully turned around the previously stalled project on a site with environmental issues that also involved significant municipal regulatory and administrative requirements. Birge & Held successfully negotiated changes to the project size and scope, while bringing the projects partners together on a revised development schedule.

Maximizing Returns

We worked with investors to maximize the Opportunity Zone benefits for all parties in a project which was already projected to provide strong returns regardless of the additional tax incentives.

Creating Efficiencies

Working closely with our construction and property management divisions, Birge & Held created time and resource efficiencies.

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