(Press Release) Groundbreaking Milestone for Primior on Its First Opportunity Zone Project in Santa Ana:
At the intersection of N. Harbor Blvd. and W. 1st St., First Harbor Plaza is a 40,129-sq.-ft. restaurant, retail, office and medical property located in one of Santa Ana’s busiest areas with high traffic counts of some 71,000 cars daily.
“We are very pleased to be developing one of the first properties of this type in Santa Ana under this important program,” said Primior CEO Johnney Zhang.
“The positive impact this innovative financing model will have on the local community in terms of strong economic opportunities and an enhanced quality of life has led us to seek out areas where we can make a contribution.”
The Opportunity Zone program was created by the 2017 Tax Cuts & Jobs Act to revitalize economically distressed communities through private investment as opposed to taxpayer dollars. Opportunity Zones have now been designated in all 50 U.S. states, the District of Columbia and five U.S. possessions.