Reserve Sullivan Commercial Center is a 17-acre development in southern Sullivan with frontage on Route 32. Located just a couple of miles north of the Lake Shelbyville marina, and across the street from employers, Hydro-Gear & Agri-Fab, this new development site features a multi-tenant commercial building and a new multifamily community. All lots are sold out and the commercial building is fully leased.
Welcoming Sweet Vail Cafe / Event Center & Sully's!
The entire site is located in an Opportunity Zone
Qualified Opportunity Zones (QOZ) were created as part of 2017’s Tax Cuts and Jobs Act, under a new provision to Section 1400Z.
The current QOZ designations will remain in effect until 12/31/2028.
Deferral of capital gains taxes on QOZ Fund investments until 12/31/2026. 100% of gains generated from QOZ Fund investment are excluded from taxable income if asset is held at least 10 years. QOZ Fund investments are limited to equity investments in real estate, businesses, and business assets that are located in QOZ.