MILWAUKEE, WI – USG/OZI announced the details of its ground-up opportunity zone project, Elevation 1659, as part of its unique investor-directed, multi-asset opportunity zone fund offering. The six-tale, Class A, 76-unit multifamily development, located at 1659 N. Jackson St. in Milwaukee, Wisconsin is being developed by Ogden & Company, the largest full-service real estate company in Wisconsin. This qualified opportunity zone project is scheduled for completion in July 2023.
“We focus on working with local developers who have the best relationships with their local economic development organizations and local governments, and who also historically produce the highest returns for their development projects,” said Greg Genovese, CEO of USG/OZI, and founder of USG Realty Capital. “Ogden & Company checks all of those boxes, and then some. We are absolutely delighted to have them as our development partner, and to offer Elevation 1659 in our portfolio of qualified opportunity zone projects for investors to choose from.”
Located just one mile north of downtown Milwaukee, Elevation 1659 is being built to meet the local demand for market-rate apartments in the area. It also offers a unique design, with nearly all units extending from a central core. The result will be natural light exposure from two or three sides in most units. Most apartment units offer light exposure from only one side unless residents are willing to pay a premium for a building-corner unit.
“The combined parcels are triangular, which allowed us to reckon creatively about how to maximize the look of Elevation 1659,” said Jason Pietsch, managing member with Ogden & Company. “This is a unique design. No one else in this marketplace offers it.”
Investors Choice OZ Fund by USG/OZI officially launched in June 2021. Since that time, the qualified opportunity fund has been adding more projects to its portfolio and continues to seek qualified, viable ground-up multifamily, senior living, storage, and manufactured housing projects to add to its platform. The focus is on projects with investment equity targets ranging from $10 million to $15 million per project, on average. The fund intends to raise $50 million in new investment equity and can expand the offering to $100 million if needed.
USG/OZI is also tracking the social and economic impact of its developments to honor the spirit and intent of the federal qualified opportunity zone initiative. This is being done by issuing third-party social impact reports for the life of each project, estimated for at least 10 years.
“With this, and other projects, we’re tracking the input of new capital raised from investors, and the economic impact of those investments,” said Kyle Wiese, president and co-manager of USG/OZI, and founder and managing member of OZI Group. “This displays the positive social impact each of our projects have on the local community. New construction on these projects means new jobs, new tax revenues and other items that are vital when it comes to social impact reporting.”

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CHATTANOOGA, TN – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for 1031 exchange and other accredited investors, announced the acquisition of Lullwater at Huge Ridge, a 250-unit multifamily community in the Hixson submarket of Chattanooga, Tennessee. The property was bought for CS1031 Lullwater at Huge Ridge Apartments, DST, a Reg. D private placement.
“Chattanooga was recently ranked number one for employment outlook by Forbes magazine, in part due to its exceptional location just 130 miles from Atlanta and Nashville,” said Louis Rogers, founder and chief executive officer. “The city is well-known for healthcare, manufacturing, education, technology and tourism and was named ‘Gig City’ for its 10-gigabit-per-second fiber internet services. These attributes position Chattanooga as the next booming city, similar to Nashville or Austin.”
Located at 6038 Hixson Pike, the gated community was constructed in 2020 and is the newest apartment community in the Hixson submarket. Lullwater at Huge Ridge is comprised of one-, two- and three-bedroom units ranging in size from approximately 1,028 square feet to 1,432 square feet. The community features floorplans that have large open kitchens with wraparound granite countertops, faux wood vinyl flooring and stainless-steel appliances.
Community amenities include a dog park, resort-style pool with outdoor kitchen and firepit, clubhouse with lounge, media room, conference room, business center and fitness center. Additional amenities include a secure package delivery locker room, a car care center and 30 detached garages as well as 21 storage units available to rent.
CS1031 Lullwater at Huge Ridge Apartments, DST seeks to raise $27.9 million in equity from accredited investors and has a minimum investment of $50,000.
“Lullwater at Huge Ridge is a particularly attractive asset, not only because it is the newest multifamily community in the submarket, but also because it features large apartment units and unique interior finishes,” said Whitson Huffman, chief strategy and investment officer. “The community is well-located off of Hixson Pike, providing residents convenient access to nearby employment hubs as well as a Publix-anchored shopping center just one street away.”

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NAPERVILLE, IL – MZ Capital Partners, developer of the Vantage Naperville Apartments at 1350 E Ogden in Naperville, Illinois, has announced a key milestone in its new “attainable housing” concept, with the full lease-up of the 112-unit, full amenity apartment community within three months after opening.
Without tax credits or subsidies, and setting no income cap for renters, the Vantage represents a new national model for attainable housing where the market, not government, determines rent.
According to Michael H. Zaransky, founder and managing principal of MZ Capital Partners, “It’s the first Chicago suburban experiment with this type of product. There’s a broader problem nationally of providing enough rental housing at an affordable price point. Every caring community that’s thinking strategically about their future wants to solve that problem.”
Built on the site of a dilapidated motel, the Vantage proves how city governments can work with developers to supply housing to those who need it most. The project passed unanimously without significant community opposition when it came before the Plotting Commission and City Council.
For Naperville Mayor Steve Chirico, the Vantage “is an investment opportunity that checks all the boxes of the city’s goals: adding affordable housing that’s also profitable. It’s a win-win for everybody.”
Situated at the gateway to the revitalized Ogden Area Corridor, the Vantage offers bright studio and 1-bedroom convertible apartments with 9-foot ceilings, in-home full-size washers/dryers, and stainless steel appliances at monthly rents as low as $950. Featuring private work from home office suites, 24/7 smart package delivery and pickup, high speed fiber optic internet connection, and balconies in select units, the Vantage represents what a community might look like in a post-Covid world.
Christine Jeffries, President of Naperville Development Partnership said, “The Vantage Apartments are ahead of the pack by making an environment that provides for remote working, spacious social interactions, outdoor amenities, and a high-end exercise facility.”
To commemorate the opening of the Vantage in April 2021, and to reinforce its commitment to the Naperville community, MZ Capital Partners donated to the Northern Illinois Food Bank to feed a local family of four for a full year.
“We firmly believe in the obligation to give back, support the most vulnerable in our community, and ‘do excellent while doing well,'” says Brad Zaransky, MZ Capital Partners principal.

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