02 October 2018

Downtown Development Opportunities: AerialMesa-Downtown Mesa OR WHAT'S REAL

IF YOU WANT SOME NEWS THAT NEEDS SERIOUS UP-DATING >
Visit Downtown Mesa's development opportunities from the air - City of Mesa adds new virtual tour for Downtown
Post Date:09/19/2018 4:21 PM
Lead The City has launched Aerial Mesa-Downtown Mesa on www.AerialMesa.com, a new virtual tour of downtown's development opportunities from the air
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Now let's get down-to-the-ground and the Real Nitty-Gritty:
Downtown Mesa is An Opportunity Zone and needs millions in new investments - it's been neglected for far too long.
YOU CAN USE THIS BLOG AS A RESOURCE
To find out more information about Opportunity Zones
 
USE THE SEARCHBOX
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Your MesaZona blogger just could not pass up this article published a couple of days ago on Commercial Observer https://commercialobserver.com about Opportunity Zones where writer Rey Mashayekhi starts off the sub-heading with "A year ago, nobody knew what an opportunity zone was . . . '  HUH?
Looking in the rearview mirror from what we know now from all the behind-the-scenes deals and years of planning with city officials here in Mesa, more than a few people probably may have acted on closely-held cahoots on inside information.   
‘Opportunity’ Knocks for Real Estate Investors Buoyed by Tax Program
A year ago, nobody knew what an opportunity zone was. Now, it could be the biggest thing to hit real estate development ‘maybe ever.’

"Tucked into the federal tax reform bill that passed late last year, the “Opportunity Zones” program wasn’t designed specifically with real estate in mind. Rather, the provision—which provides significant tax relief to investors who pour money into designated, “economically distressed” areas across the country—is meant to spur investment across a wide variety of business sectors and industries.
And yet, due to the very nature of the program, it is real estate interests that appear most poised to benefit from its potentially lucrative tax incentives
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26 September 2018
Complexities Emerge In The OZones: QIP
This news might confound all those "Buy-and-Hold" and "Wait-and-See"  throngs of investors who piled-in prematurely into Opportunity Zones . . . and at the same time help to inform and explain for  the general public what plans investors make for the restoration of neglected downtown commercial space acquisitions here in The Old Donut-Hole for the ten properties on Main Street. 
The Fixtures Fix:
Correcting the Drafting Error Involving the Expensing of Qualified Improvement Property
by Erica York May 30, 2018  
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Introduction
Removing barriers to business investment in the United States was one of the central goals of the Tax Cuts and Jobs Act (TCJA), enacted last December. One of the key provisions in the bill, known as “100 percent bonus depreciation,” allows businesses to immediately deduct the cost of short-lived investments—limiting the penalty that the federal tax code placed on businesses that make capital investments in the United States.
However, the law excludes some categories of business investment from 100 percent bonus depreciation.
For instance, many interior improvements to buildings are not eligible for the provision, and will be required to be written off over time periods as long as 39 years. This exclusion is widely believed to have been due to a legislative oversight: Congress seems to have intended building improvements to be eligible for 100 percent bonus depreciation, but left them out due to a last-minute drafting error. As a result, the new tax law actually worsens the tax treatment of this type of investment, which previously qualified for bonus depreciation, by reducing the ability of businesses to deduct their full building improvement costs.
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DOING BUSINESS IN DOWNTOWN MESA
In round numbers, Downtown Mesa has
  • 7,000 employees
  • 3,000 residents and more than
  • 11,000+  daily visitors who come to shop, play, learn, and conduct commerce.
Businesses located in Downtown Mesa are strategically positioned to take advantage of a large workforce that is accessible by three integrated freeways:  the Superstition (US 60), Price (101) and Red Mountain (202).  When considering total business activity Downtown Mesa is a $2 billion dollar square mile business district.
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INVEST IN DOWNTOWN MESA 
  • Valley Metro light rail runs through Downtown Mesa
  • More than 40 acres of developable land within ½ mile of Downtown Mesa light rail stations, ripe for Transit-Oriented Development (TOD) opportunities
  • 253,000 SF of office space, 48,000 SF of retail space
  • Over $200 million in public/ private investment since 1997
  • 250 commercial property owners and 490 businesses
  • Minutes away from three major freeways 
  • The Central Main Plan establishes an Urban Village Concept
  • Pedestrian friendly Main Street with abundant free parking
  • An established Arts and Cultural District with  unique destinations
  • Five National Register historic districts offering residents close proximity to Downtown
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Educational Attainment
(highest level completed)
 
 20-minute commute 30-minute commute 
 High School Graduate
 
19.1%17.7%
 
 Some College
 
26.0%24.4%
 Associates Degree or
 Higher
 
39.2%42.8%
 Source: ESRI Community Analyst 2016; Center point - 1 W. Main St.
 
Trade Area
(population by age, median household income)
 
 
 
 3-mile radius
 
5-mile radius
 
 Total      
 
174,031353,445
 14 and under
 
24.8%21.2%
 
 15-2415.5%16.0%
 
 25-4431.1%29.9%
 
 45-6419.5%21.4%
 
 65+9.2%11.4%
 
 Median Age
 
30.132
 
 Median HH Income
 
$36,390 $43,053
 Source: ESRI Community Analyst 2016; Center point - 1 W. Main St.
 
Office of Economic Development
Contact: David Packard
Tel. 480-644-3961
david.packard@mesaaz.gov  
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INDUSTRIAL SPEC BUILDINGS 'In The Loops'
50,000 Vehicles Per Day on Loop 202 Freeway
https://www.selectmesa.com/available-properties/spec-buildings


For additional information contact, Aric Bopp, Economic Developmentabopp Deputy Director at aric.bopp@mesaaz.gov.


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