Real Estate: Catalyst Opportunity Funds Completes Three Projects
The projects are located in Salt Lake City and Denver
Catalyst Opportunity Funds, an investment firm focused on Opportunity Zone investments, has completed investments for its first three projects. Catalyst’s initial developments will convert underutilized real estate into high-impact office, residential, and retail space. It focuses on neighborhoods that offer immense growth potential but lack capital investment and quality development.
Catalyst Opportunity Funds
Two of the projects are in Salt Lake City, and one is in Denver.
“We set the bar high for ourselves in order to find projects that truly meet the spirit of the Opportunity Zone program’s purpose,” said Jim Sorenson, managing partner. “We aim to be the model fund for this program and our work starts now with these projects. These are long-term investments aimed at spurring sustainable economic and community development. Our first investments are an example of what we plan to focus on moving forward, and we’ve identified a pipeline of developments across the country that we feel meet the strict qualifications we have for our Opportunity Zone investments.”
INDUSTRY SLC is a strategic repositioning of a more than 100-year-old iron forge. The project encompasses approximately 340,000 square feet of space. The project will be a creative office campus and entrepreneurial ecosystem, consisting of community and event space, shared amenity areas to support local businesses. In the next phase, it will produce residential workforce housing. INDUSTRY SLC will be located in the Granary District of Salt Lake City.
The “Pickle and Hide” project will also be located in the Granary District. The project will create an impact and innovation campus with office and retail space, as well as social centers featuring outdoor gardens and community event areas. The project will also include affordable housing.
Finally, Catalyst will invest in a 60-unit apartment complex in Bozeman, Montana. The “Enterprise” project is part of the effort to provide more affordable housing options in Bozeman.
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