'Use The Funds To Grow The Business': Why Cannabis And Opportunity Zones Could Be A Budding IndustryFebruary 6, 2020 – Media Mention
If things fall into place, Downtown Los Angeles could soon see one of the first mixed-use cannabis projects in a designated opportunity zone in the nation. The proposed mixed-use development, still in its infancy, will feature a boutique hotel that could rise as high as 50 stories, with a music recording studio, a film screening room, an event space, retail, and a cannabis dispensary and lounge on the ground floor.
Greenberg Glusker Fields Claman and Machtinger partner Schuyler M. Moore said cannabis companies are missing out on a potentially lucrative opportunity. Though many are concerned about the possibility of cannabis being included as a sin business under the program, Moore said he doesn't share that same level of concern. The opportunity zones program has gone through three rounds of guideline updates and there has been no mention of prohibiting cannabis businesses.