Across the country, many communities continue to face a cycle of disinvestment, poverty, and limited access to economic opportunity. These are neighborhoods full of potential, yet lacking the capital and attention needed to unlock it. In response to this, the federal government created Opportunity Zones—a tax incentive program designed to spur private investment in economically distressed areas. While the program has generated excitement in the real estate and financial sectors, its true potential lies not just in profits, but in its power to build long-term community wealth.
For developers like Chinedum Ndukwe, founder of Kingsley + Co., Opportunity Zones offer more than a financial tool—they provide a meaningful chance to reshape communities from the inside out. By aligning private investment with the interests of local residents, Opportunity Zone development can become a force for equity, sustainability, and lasting prosperity.
What Are Opportunity Zones?
Opportunity Zones were established as part of the 2017 Tax Cuts and Jobs Act to encourage long-term investment in low-income areas. These zones were designated by state governors and certified by the U.S. Treasury, covering parts of nearly every state. The incentive works by allowing investors to defer and reduce capital gains taxes when they reinvest profits into a Qualified Opportunity Fund (QOF), which in turn must deploy capital into businesses or real estate located within these designated zones.
The goal of the program is to drive private investment into neighborhoods that have historically been overlooked. However, the structure of the program gives investors wide latitude in how they use their funds. That flexibility can be both a strength and a risk: while it opens the door to innovation, it also makes it easier for projects to proceed without considering community impact. The challenge, then, is ensuring that Opportunity Zone investments are not only profitable but purposeful.
Investing with Intention: Community-Centered Development
At Kingsley + Co., we believe development should be about people—not just buildings or returns. That’s why Opportunity Zones are particularly meaningful to us. They give us the chance to bring capital to places where it’s needed most, but just as importantly, they allow us to involve community members as stakeholders in the process.
The key is to approach each Opportunity Zone project with a long-term mindset. That means resisting the temptation to pursue only short-term financial gains, and instead asking: What will this development mean for the neighborhood in 10, 20, or 30 years? Will the people who live here now still be able to call it home? Will they benefit from the rising property values and new businesses, or will they be displaced by them?
To build real community wealth, developers must go beyond bricks and mortar. They need to create spaces that generate jobs, offer affordable housing, support local entrepreneurs, and contribute to the social fabric of the neighborhood. That’s the kind of investment we strive for at Kingsley + Co.—projects that don’t just build value, but share it.
Opportunity Zones as a Tool for Inclusive Growth
When used strategically, Opportunity Zones can help correct historic inequalities in real estate and urban planning. Many of the areas designated as Opportunity Zones have suffered from redlining, industrial decline, or decades of underinvestment. Simply bringing new money into these areas is not enough—what matters is how that money is used and who it benefits.
This is where inclusive planning becomes essential. Community engagement must be a core part of the development process. That means listening to residents, learning about their priorities, and making sure those voices shape the final project. It means incorporating affordable housing alongside market-rate units, supporting minority-owned small businesses, and creating public spaces that reflect the culture and history of the area.
For example, a mixed-use project in an Opportunity Zone could include ground-floor retail reserved for local vendors, office space for small businesses, and residential units priced for a range of income levels. It could partner with workforce development programs to train and hire local residents. It could include environmentally sustainable design and community meeting space. These kinds of features don’t just boost the social value of a project—they also make it more resilient and attractive in the long run.
The Importance of Local Leadership
One of the biggest factors in making Opportunity Zones work for communities is who leads the development. When local developers and minority-owned firms are at the helm, the chances of meaningful engagement and community-rooted investment go up significantly. People who understand the culture, challenges, and assets of a neighborhood are more likely to build with empathy and intentionality.
Chinedum Ndukwe’s journey—from the NFL to real estate—demonstrates the impact of mission-driven leadership in this space. As a developer, he has made it his purpose to create inclusive projects that reflect the needs of the people who live in the communities Kingsley + Co. serves. His approach is centered on equity, collaboration, and creating generational wealth, particularly in underserved areas.
That kind of leadership can’t be overstated. When developers are accountable to the community, not just to investors, the entire nature of Opportunity Zone development shifts. It becomes a vehicle for empowerment instead of displacement, for transformation instead of extraction.
Accountability and the Future of Opportunity Zones
There’s no denying that the Opportunity Zone program has had its challenges. Critics have raised concerns about a lack of transparency, the potential for gentrification, and whether the benefits truly reach local residents. These are valid concerns—but they don’t mean the program is without value. Rather, they point to the need for more intentional, community-focused development.
What’s encouraging is that many forward-thinking developers and cities are beginning to adopt guidelines for equitable Opportunity Zone investments. Some municipalities have created local advisory boards or established metrics for tracking social impact. Others are actively encouraging projects that prioritize affordable housing, minority hiring, and environmental sustainability. These are important steps in ensuring that Opportunity Zones live up to their promise.
As we move forward, it’s up to us—developers, investors, civic leaders, and residents—to shape the future of this program. The real measure of success won’t be how much capital flows into these areas, but how much opportunity is created for the people who live there.
A Chance to Build Wealth That Lasts
Opportunity Zones offer a powerful framework for change—but only if we choose to use them wisely. By aligning private capital with community goals, developers have a rare chance to turn underinvested neighborhoods into places of possibility. The goal isn’t just revitalization; it’s equity, inclusion, and shared prosperity.
For Kingsley + Co., and for leaders like Chinedum Ndukwe, the mission is clear: use the tools of development to build wealth that lasts—not just for investors, but for entire communities. By leveraging Opportunity Zones with intention and accountability, we can help turn overlooked neighborhoods into thriving, vibrant, and inclusive places for generations to come.