We currently have RIZE Development, LLC, RIZE Health Partners, LLC, and Arrived! Hospitality, LLC as internal QOZBs. Another asset, the Hardy House will be repurposed into a high-end restaurant located in the middle of downtown St. George and directly across the street from the largest mixed-use development project currently under construction in downtown St. George. We will be raising an additional $5M +/- to retire remaining debt and the “substantial improvements” of the assets.
Our grouping of assets within downtown St. George (Ancestor Square) is our first Opportunity Zone Fund and home to RIZE corporate headquarters. There are several buildings within the project including the four-story tower that will incubate several Qualified Opportunity Zone Businesses (QOZBs).