Construction is underway on Lima’s first Opportunity Zone capital investment project, an 18-unit townhome development on West North Street. The $4 million project is the first use of a $25 million investment commitment from Arctaris Impact Investors aimed at boosting development in underserved areas of the city.
Arctaris Impact Investors has committed $25 million in investment funds to the city of Lima and is seeking opportunities to allocate it.
The City of Lima is putting up millions of dollars to help attract private investors to help turn around certain parts of the city. Council voted tonight to create an Opportunity Zone Equity Fund. A group called Arctaris Impact Investors contacted the city about setting up a fund that would encourage investments along the city’s Opportunity Zone which runs along Market and Bellefontaine Streets out to I-75. The program provides incentive for private investors to help revitalize that area.
