2018 was a year of growth for Schmitt Capital and Schmitt Capital Investors. As our internal team expanded in numbers, so did our investors and assets under management.
With the new year underway, here’s a look at some of the projects we’ll be breaking ground on in 2019.
We’re actively expanding into new communities as we continue development in growing markets with the fundamentals that align with our goals & the goals of Schmitt Capital investors.
380 Communipaw Ave – Jersey City, NJ
Jersey City’s Bergen Lafayette community is home to this 5 story, 40 residential unit mixed use development with ground floor retail in the Morris Canal redevelopment area.
With our second equity raise underway, this project will be the first Schmitt Capital development in a Qualified Opportunity Zone!
What is a Qualified Opportunity Zone?
Established by the 2017 Tax Cuts and Jobs Act, the Qualified Opportunity Zone program provides a tax incentive for private, long-term investment in economically distressed communities.
Learn about the latest opportunity to defer and reduce tax on capital gains in our FREE Ebook.
2006 House Ave – Durham, North Carolina
Located in North Carolina’s Research Triangle & home to Duke University, Durham continues to establishing itself as one of the premier destinations for fortune 500 companies & young professionals alike.
We are repositioning this recently acquired 18 unit complex in the trendy Lakewood neighborhood that appeal to this demographic of young professionals and further our presence in this market.
Other Projects On The Horizon
170 South Orange Ave: 24 unit ground up development of rental apartments in Newark, NJ located directly across from University Hospital
227 Summit Ave: 24 unit ground up development of rental apartments Jersey City’s McGinley Square neighborhood
330 5th Ave: 4 unit ground up development of condominiums in Downtown Jersey City