Santa Ana Major Developments
Opportunity Zones
Courthouse Professional is located in a Designated Qualified Opportunity Zone.
WHAT IS AN OPPORTUNITY ZONE? Opportunity Zones are communities that have been designated by state and federal governments where new investments aimed at improving these areas are incentivized with preferential tax benefits. This new tax incentive for investment in low-income areas was created as part of the Tax Cuts and Jobs Act of 2017 and signed into law on December 22, 2017. Under this section of the Act, codified as sections 1400Z-1, and 1400Z-2 of the Internal Revenue Code, taxpayers with taxable capital gains from the sale of any asset (stock, property, etc.) who reinvest those gains within 180 days of the date of sale of the asset into “Qualified Opportunity Zone Property” will become eligible to receive significant tax benefits. WHY INVEST? 1. Temporary deferral of taxes on previously earned capital gains. Investors can place existing assets with accumulated capital gains into Opportunity Funds. Those existing capital gains are not taxed until the end of 2026 or when the asset is disposed of. 2. Basis step-up of previously earned capital gains invested. For capital gains placed in Opportunity Funds for at least 5 years, investors’ basis on the original investment increases by 10%. If invested for at least 7 years, investors’ basis on the original investment increases by 15%. 3. Permanent exclusion of taxable income on new gains. For investments held for at least 10 years, investors pay no taxes on any capital gains produced through their investment in Opportunity Funds (the investment vehicle that invests in Opportunity Zones). |
Santa Ana, CA
Population
336,744 |
Median Age
31 |
Median Household Income
$61,290 |
Number of Employees
138,699 |
Media Property Value
$512,214 |
The city boasts a diverse mix of cultures and people with a population over of 300,000. With a labor force of over 135,000 people, household income of $61,300, the city has become a popular hub for business and industry.
Transportation
Santa Ana is accessible via many freeways, bus and train and is currently building a robust bicycle infrastructure.
Housing
Centrally located, downtown Santa Ana offers the right blend of accessible housing ramping from entry-level to executive. Downtown has an existing core of live/work studios, with exciting multifamily development in the pipeline.
EXECUTIVE HOUSING
• Shady Canyon (9 minutes)
• North Tustin (10 minutes) • Newport Beach (12 minutes) • Villa Park (13 minutes) |
MULTI-FAMILY HOUSING
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Rafferty luxury apartmentsToll Brothers has partnered with EJF Capital to develop Rafferty, a multifamily property in Santa Ana.
Rafferty will feature 218 apartments in two five-story and seven-story buildings with 328 parking spaces. The community will offer a fitness center, resident lounge, maker’s room, jam room, speakeasy, co-working space and sky lounge with an outdoor terrace. Additional amenities will include a swimming pool, seating with grills and fire pit and outdoor fitness equipment. The property will also feature 12,350 square feet of ground-floor commercial space along Main and Fourth streets. Completion is slated for 2024. |
Historic Downtown santa ana
The major sections in Historic Downtown Santa Ana include: The Artists Village, Historic 4th Street (also known as Calle Cuatro Marketplace), which includes The East End and West End, and the Civic Center Courthouse District.
The Artists Village is home to Cal State Fullerton’s Grand Central Art Center, The Orange County Center for Contemporary Art, The Santora Arts Building and numerous other art galleries and live/work lofts. Historic 4th Street is the epicenter of Downtown Santa Ana’s restaurant and retail scene, as well as home to one of Orange County’s only art house movie theaters, the Frida Cinema. The Civic Center Courthouse District includes the Ronald Reagan Federal Building, The Old Orange County Courthouse, The California Court of Appeals and various city, county, state and federal facilities. |