In 2018, a census tract in Boulder (122.03) was designated as an Opportunity Zone by the U.S. Department of the Treasury through a federal initiative designed to attract private investment in residential and commercial properties, businesses and infrastructure. City staff submitted the census tract for consideration based on a number of factors including community goals and potential redevelopment opportunities the designation might support.
Federal Opportunity Zone designation does not affect the applicability of local tax code, zoning or city regulatory authority. Opportunity Zone federal tax benefits may be used with other incentive programs.
Boulder's Opportunity Zone (Census Tract 122.03) includes:
- 2.5-square-mile area located between 28th Street (west), Diagonal Highway and Independence Road (north), Airport Road and 55th Street (east) and Arapahoe Avenue (south)
- Approx. 7,500 residents with a median household income of $62,334 (compared to the city median of $69,520)
- Approx. 4,000 housing units with a median value of $263,200 (compared to the city median of $700,000)
- Approx. 1,500 businesses
- Diagonal Plaza area, Boulder Junction, UCAR, two mobile home communities (Orchard Grove and Vista Village) and Boulder Community Hospital, several industrial and commercial areas