MIG Real Estate has opened escrow on two new opportunity zone ground-up multifamily development projects in California: a 140-unit rental residence in the central core of Hollywood and a 240-unit rental residence in Fremont, Calif. Both projects are entries to the markets.
“We’re excited to have the opportunity to develop and improve these two properties by adding much-needed housing to these communities,” says Elizabeth Cobb, director of development at MIG. “These projects are important steps in our continued strategy to seek out opportunity zone investments for development in key markets.”
It is the continuation of an investment strategy launched by MIG in 2020 to reposition its portfolio by acquiring and developing new projects in key urban markets. To further that goal, MIG has allocated $100 million in equity to develop opportunity zone sites throughout the western United States.
To support the new strategy, the firm has made several strategic hir
