Project Updates
800 South Queen Street – Project Update November 20, 2024
OZFund’s flagship project at 800 South Queen Street in Lancaster is moving quickly to reshape the landscape at this abandoned property site and enrich lives in this community. This project will be completed in the 2 nd quarter of 2025, with 52 beautifully design apartment units and a healthy grocery store on the first floor. Each apartment will feature a built-in washer/dryer and high-speed internet accessibility. Additionally, the residents will enjoy a roof-top garden space, community room, security monitoring, and free on-site parking.
At a progress update in November 2024, the construction team reports that the two stair towers that will be located at each end of the finished building are in place. Additionally, the elevator shaft that will be at the center of the building is finished. Work on the last stair tower that will be adjacent to the elevator shaft will be completed over the next two weeks.
The plumbing that will be located under the concrete slab foundation is being installed, including installation of water, sewage, and drainage piping. Following this installation, the underslab work will be completed and should finish by mid-December, allowing for the concrete slab to be poured and cured.
Once the building slab is in place, steel will begin arriving on site and erection of the first floor will begin. The South Queen Street neighborhood should be seeing the building start to take shape in January 2025.
Our vision for this project is to create affordable, safe homes that enhance lives and are environmentally sustainable. The project incorporates state-of-the-art clean energy technologies into the design. We are working in close cooperation with the Mayor and City Council, Lancaster City housing, and community organizations to ensure that specific needs are met with this new construction. Our ultimate goal is to leave this neighborhood a legacy for the future.
Address
128 E Grant Street
Suite 103
Lancaster, PA 17602
© OZFund Inc., 2024
Contacts
717-715-0238
hello@ozfundteam.com
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We filed with the Internal Revenue Service (“IRS”) to become a Qualified Opportunity Fund ("QOF"). There is no guarantee that any investor would be able to realize any particular tax results by investing in us. Internal Revenue Service guidance and Treasury Regulations have been provided, but there is still uncertainty regarding the Opportunity Zone program. Although the US Department of the Treasury has released guidance on the Tax Cuts and Jobs Act of 2017 ("TCJA"), there is no guarantee that the program's rules will not be changed. Each prospective investor should consult their tax advisors before investing in a QOF, including the OZFund.
OVERVIEW - The Tax Cuts and Jobs Act (TCJA) provides that, for investors who have rolled capital gains into an opportunity fund or invest in a QOF and hold that investment in the QOF for ten years or more, that any additional appreciation beyond the amount initially invested realized by such investor from liquidating such asset will not incur other federal capital gains taxes. However, each prospective investor should consult their tax advisors before investing in a QOF, including the OZFund. For IRS information, please go here. For IRS FAQs, please go here.
This website is not an offer to sell nor a solicitation to buy Securities. Our current confidential Private Placement Memorandum (“PPM”) can only do that. Investing in the OZFund is considered a speculative investment for Accredited Investors only, who can stand to lose their entire investment. The equity interests sold in this offering have not been approved or disapproved by the Securities and Exchange Commission or any state’s securities division. Nor has the Securities and Exchange Commission or any state securities department passed upon the accuracy or adequacy of the PPM or the disclosures provided therein.