New Opportunity Zone Fund Includes Clayco, CRG

By on April 8, 2019

From St. Louis Post-Dispatch:  The founder of construction firm Clayco and the head of its related development firm, St. Louis-based CRG, are among the partners in a new venture aiming to raise and invest $1 billion in development projects throughout the Heartland using Opportunity Zones created by the 2017 tax law.

Clayco CEO Bob Clark and CRG President Shawn Clark have teamed up with prominent Chicago developer Scott Goodman of Farpoint Development to form Decennial Group. Advising the management team will be former Obama administration adviser Steve Glickman, who helped write the Opportunity Zone legislation while head of think tank Economic Innovation Group.

“Few Opportunity Zone investment platforms have the ability to manage all aspects of the investment and development life cycle from deploying private equity capital to underwriting strong deals to developing and managing the projects in these communities,” Bob Clark said in a statement. “CRG provides both development and site selection expertise as well as a full-service design-build group able to act quickly on great (Opportunity Zone) opportunities around the country.”

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