A luxury community in Miami

Richard LeFrak

Mr. LeFrak, a longtime confidante of Mr. Trump’s and a major campaign donor, is building a sprawling luxury residential community in the middle of an opportunity zone in Miami, though it’s unclear how much of the development’s funding will end up being tax-advantaged.

In an opportunity zone in Miami, Mr. LeFrak, who donated nearly $500,000 to Mr. Trump’s campaign and inauguration and is personally close to the president, is working with a Florida partner on a 183-acre project that is to include 12 residential towers and about 500,000 square feet of retail and commercial space.

“We are still evaluating it at this point,” said Daniel Salas , general counsel for the project, in an interview this summer.

Stu Loeser , a spokesman for Mr. LeFrak, said the company’s “analysis so far finds that the program wouldn’t work for more than 90 percent of the project.”

A Miami High rise

The Kushners

Jared Kushner’s family company owns or is in the process of buying at least a dozen properties in New York, New Jersey and Florida that are in opportunity zones. That includes a pair in Miami, where Kushner Companies plans to build a 393-apartment luxury high rise with sweeping views of Biscayne Bay, according to a company presentation for potential investors.

“Kushner Companies is considering the option of accessing opportunity zone funds,” the company said in a statement, but it added that the Miami project likely will not use them.

In addition, Cadre, an investment company co-founded by Mr. Kushner and his brother, Joshua, is raising hundreds of millions of dollars that it hopes to use on opportunity-zone projects.