SAN FRANCISCO, Sept. 25, 2019 /PRNewswire/ — Lighthouse.one today announces its Opportunity Zones (OZ) investment platform led by urban innovation experts and former tech sector executives, Peter Hirshberg, CEO, and Marcia Kadanoff, President and COO. Peter and Marcia hail from Maker City®, which has an extensive track record of working with cities, towns, and the private sector to create new forms of civic innovation, economic development, and transformation.
Steve Glickman, one of the architects of the Opportunity Zones program, joins as a senior advisor. Lighthouse.one is the first investment platform of its kind which aims to uplift American communities by connecting qualified investors with OZ projects.
“We can reduce friction and enable these OZ communities to become canvases for social inclusion and economic development,” said Peter Hirshberg, CEO and co-founder of Lighthouse.one. “The path we take as a nation depends on how investors, entrepreneurs, and philanthropists shape our future.”
Lighthouse.one brings together the most promising OZ projects and accredited investors on its community-centric platform. OZ projects ranging from commercial real estate and affordable housing to sustainable infrastructure and high-growth startups can easily be discovered and gain access to capital like never before. Investors can build a unique OZ portfolio across target regions, industries, project types, and social goals. Lighthouse.one offers three types of investment opportunities:
- Placemaking helping secondary cities attract businesses and talent through the repurposing of existing real estate or the development of new community resources
- Transformational technology and infrastructure changing the fundamental economics of a city, e.g. modular housing, 5G wireless, distributed energy, and on-demand transportation
- Operating companies contributing positive cash flow that can thrive in location with low-cost real estate, underutilized talent and tax advantages such as those provided by OZs
“Opportunity Zones can help address the crippling geographic inequality in and among our communities by enhancing access to patient capital that can be used to invest in growing businesses, revitalize energy production and infrastructure, and build housing throughout America,” said Steve Glickman, senior advisor to Lighthouse.one and architect of the OZ legislation. “Lighthouse.one’s virtual marketplace has the power to accelerate the accessibility of this program for many more communities while bringing value to Opportunity Zone funds, investors, entrepreneurs, and project developers.”
Lighthouse.one is based in the Excelsior District in San Francisco, an OZ within the city limits. The company is also co-founded by Christopher Petzel, who joins as Chief Investment Officer and Barry Watkins, VP of Business Operations. Nick Burnett signs on as an advisor for business development. Omeed Manocheri also serves as head of marketing and business operations. Unicorn Ventures led the initial round of investment in Lighthouse.one.
Opportunity Zones were established in the 2017 Tax Cuts and Jobs Act, and there are now over 8,700 OZs in all 50 states, the District of Columbia, and five U.S. territories. The legislation incentivizes investments in these low-income communities by deferring, reducing, and potentially eliminating capital gains taxes.
Lighthouse.one is reinvigorating communities across the U.S. with the first investment platform that matches qualified investors with Opportunity Zone (OZ) projects based on geographic, financial, or social characteristics. Lighthouse.one aims to reduce the cost of transactions, manage compliance, and surface high-potential projects to achieve the ultimate benefit of uplifting underserved communities. To learn more, visit Lighthouse.one or follow us on Twitter, LinkedIn, Facebook, and Instagram.
Peter Hirshberg is a tech executive and thought leader who builds organizations and movements powered by self-organizing, distributed systems igniting change from the bottom up. With deep Silicon Valley roots stemming from nine years at Apple heading enterprise markets under Steve Jobs, Peter has since driven technology-based change initiatives for the United Nations, World Economic Forum and multiple Silicon Valley companies. Hirshberg is also a senior fellow at the USC Annenberg Center on Communication Leadership and Policy.
Peter Hirshberg brings a unique innovative, entrepreneurial perspective to Opportunity Zones as a venture partner at the $250M Catalyst Opportunity Zone Impact Fund, and as co-founder and CEO of Lighthouse.one, the Opportunity Zone Marketplace. He is author of Maker City, a best-seller chronicling contemporary place-based economic and community development in the USA, based on his collaboration with over 100 cities during the Obama Administration.
Marcia Kadanoff is a startup entrepreneur with over 30 years of experience. Previously, she served as CEO and Co-Founder of the Maker City Project, a social impact consultancy creating new forms of civic innovation and economic opportunities within cities. As part of this work, she wrote the best selling book entitled: Maker City: A Practical Guide to Reinventing American Cities (2017).
Kadanoff has served as CEO and CMO to venture-backed startups and founded, ran, and sold two successful marketing agencies: Open Marketing (content marketing) and Miller/Kadanoff (direct and interactive marketing). As part of her agency work, she built and optimized large content sites for Cisco and Knight Ridder, created the first-ever internet advertising campaigns for Blue Shields and Wells Fargo Bank, built out email subscriber lists for Microsoft, and put in place technology infrastructure for startups and established businesses alike.
Steve Glickman is the founder and CEO of Develop LLC, the nation’s leading advisory firm dedicated to building and supporting Opportunity Zone Funds seeking to positively transform low-income communities across America, and he is one of the nation’s top Opportunity Zones experts. Steve is also the Co-Founder and former CEO of the Economic Innovation Group (EIG), a bipartisan research and policy organization focused on addressing economic inequality. Under his leadership, EIG was the architect of the Opportunity Zones program, the largest community investment incentive in U.S. history.
Glickman previously served in the Obama Administration as a senior economic advisor at the White House, as well as in the U.S. Departments of Commerce and Justice, and he worked for two members of Congress. He is a graduate of Georgetown University, Columbia Law School, and the London School of Economics. Steve is a sought after speaker and his work has been featured in a number of national media outlets.
This press release is solely for informational purposes and is not intended to be used for investment or tax advice. This is not a solicitation of an investment. When making investment decisions investors should evaluate the risks and benefits carefully. Lighthouse.one is not a broker-dealer or investment advisor and does not make investment recommendations, and no communication through this press release or in any other medium should be construed as such.
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