BAKERSFIELD, Calif. (KERO) \u2014 This year marks the second time the state is implementing Opportunity Zones, building on the first round held in 2018 that spurred investment in downtown Bakersfield.<\/p>\n
Austin Smith, a managing partner at Sage, was among those influenced by that first round to invest in the area.<\/p>\n
“What we’re really excited about downtown is economic impact that it can have on our region and the growth and the job force and the housing and retail that can happen downtown,” Smith said.<\/p>\n
After opening three luxury housing properties through that first project, Smith says he is disappointed that downtown Bakersfield has not been considered for this year’s Opportunity Zone program.<\/p>\n
Out of 27 proposed zones in Bakersfield, only a handful have moved to the next round of consideration.<\/p>\n
One of the areas still under consideration falls within Supervisor Jeff Flores’s district.<\/p>\n
“I would welcome more housing in Oildale, I would welcome more businesses – more retail, if someone would like to build a supermarket,” Flores said.<\/p>\n
Flores says if Kern County is approved for the new zoning areas, it can significantly bring new infrastructure and create safer communities for Kern County.<\/p>\n
The City of Bakersfield has also weighed in, saying in a statement officials do not understand:<\/p>\n
“…Why opportunity zones in the downtown and urban core have not been included. This could significantly limit private investment in these neighborhoods with significant needs and opportunities for redevelopment.”<\/p>\n
Officials say the push is not just about advancing buildings and cleaning up communities, it is about the future of Bakersfield.<\/p>\n
As Bakersfield representatives continue to push for zoning, the U.S. Treasury will reach its final decision before the end of this year.<\/p>\n
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.<\/p>\n
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