Update on Opportunity Zone Projects in Brooklyn Park

[Excerpt from City of Brooklyn Park, EDA Work Session, originally published here]

7479 Brooklyn Boulevard (Regent Site)

Johnny Opara, a local developer and resident of Brooklyn Park, has expressed interest in completing a horizontally mixed-use retail (possibly grocery) and senior housing development on a portion of the Regent Site. Staff is working with Opara to review a preliminary concept and pro forma and expects to bring a term sheet to EDA this fall for a portion of the site. Staff is also in discussions with how to plan for the development of the remainder of the site long-term. It is anticipated that this project would require EDA financial assistance and take advantage of Opportunity Zone investment funds.

Concept for Regent Avenue Site (June 7, 2019)