Muskegon is enjoying an urban revival, reclaiming its waterfront from past industrial uses, revitalizing urban core neighborhoods, and reinvesting in a new Downtown after demolition of a 1970s-era shopping mall.
The City of Muskegon has established a clear strategy to incentivize projects within Opportunity Zones. These incentives will guide development that fits our master plan and vision for the future. Four types of projects are offered incentives: mixed-use development, missing middle housing development, neighborhood housing development, and port-related industrial redevelopment.
The Tax Cuts and Jobs Act created Opportunity Zones to promote investment in lower income areas of the country. Capital Gains taxes when invested in these zones can be greatly reduced and even eliminated. Three zones were designated in Muskegon.
Opportunity zones within the City include over four miles of waterfront along Muskegon Lake as well as neighborhood and commercial zones ripe for investment and growth. Each zone includes City-owned and vacant land that allows for immediate development and occupancy.