“There has been a whole lot of interest,” Little said. “Real estate has been intended to be a long-term capital gains maker. What is interesting is we are attracting capital to real estate that was totally unrelated like selling stock or private equity. But the change is a widening group of investors who are coming in and seeking those types of investments.”

John B. Levy & Co. put together an opportunity zone fund that closed in late December to invest in a mixed-use development that includes an apartment building in Scott’s Addition, Little said. He declined to name the specific project.

The capital raise for the fund was “millions of dollars,” he said. The total capital for the project was $30 million, which includes debt and equity.

“We had more people wanting to get into the investment than we had availability for the investment,” Little said.

What was surprising was the type of investors who took part in the fund, he said.

The fund attracted more high net-worth individuals who generally use wealth management companies or money managers.