Funds of $500M, and even $1B are being raised all over the United States to take advantage of government-initiated programs designed to provide capital for underserved communities. The U.S Treasury Department has certified approximately 8,700 census bureau tracts across the United States. We find it interesting that most funds are not focusing on specific markets and instead are investing across the United States. Which begs the question: What will be the process of identifying the best project?
Traditionally, narrowing down the right project requires an extensive due diligence process, which requires a series of disciplines coming together, collaborating and aggregating disparate information and parallel logics. Bringing together this expertise is costly to maintain, especially if a fund is focusing on multiple markets, let alone the entire U.S. Even if each fund has a team of architects, brokers, analyst, and construction experts to thoroughly investigate every opportunity, it would take weeks to coordinate the logic and insight required to make a strategic development project viable.
We believe technology will be the game-changer for funds to identify the best development opportunities and optimize these projects faster. Deepblocks offers a strategic competitive advantage for funds. Deepblocks reduces due diligence time by 100-times, integrating the logic of zoning and finance with construction costs and local market assumptions. Our vision for Opportunity Zones is to optimize the real estate analysis process and be of service to the investors, developers, and communities these projects will be built for.