Kushner-linked firm targets richer areas in program for poor
By JEFF HORWITZ and STEPHEN BRAUN, Associated Press
Published: December 16, 2018, 5:53pm
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In this Dec. 13, 2018, photo, White House senior adviser Jared Kushner listens during a meeting between President Donald Trump and newly elected governors in the Cabinet Room of the White House in Washington. A real estate investment firm founded by Kushner is betting big on the Trump administration’s Opportunity Zone tax breaks. But it’s not that interested in steering its investors to the poorest, most-downtrodden areas that the program seeks to revitalize. (AP Photo/Evan Vucci) Photo Gallery
WASHINGTON — A real estate investment firm co-founded by President Donald Trump’s son-in-law and adviser, Jared Kushner, is betting big on the administration’s Opportunity Zone tax breaks but isn’t that interested in steering its investors to the poorest, most-downtrodden areas that the program seeks to revitalize.
New York-based Cadre, in which Kushner still holds at least a $25 million passive stake, made it clear to potential investors in recent marketing materials that it doesn’t plan to look for development deals in most of those zones because of their “unfavorable growth prospects.”
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