Skip to Main Content
Doing More Today
  • News
  • Community
    • Associates in Action
    • Community Engagement
    • Small Business
    • Economic Development
  • Insights & Innovation
    • Economic Commentary
    • Insights
    • Innovation
  • Financial Wellness
    • Financial Wellness
    • Fraud Prevention
  • See the Good
    • Culture
    • Good Company
    • Good Towns
    • Good Pets
    • Ecards
    • Recipes
    • Riding Forward
Subscribe Now
Regions Bank

Regions Bank: Doing More Today: Good stories. Better insights. More possibilities.

Share
Share on Facebook
Share on X
Share on LinkedIn
Share via Email
Subscribe
Regions Foundation Invests in Opportunity Alabama Fund Supporting Economic Development...
Category: Community Engagement

Regions Foundation Invests in Opportunity Alabama Fund Supporting Economic Development in Low Income Areas

Opportunity Zone projects in Alabama aim to spur equitable real estate development and wealth creation for communities of color.

By Evelyn Mitchell | April 26, 2021

Inclusive growth is the top priority of the Regions Foundation because strengthening all communities makes life better for our stakeholders. Supporting economic and community development projects is a strategic focus area for Regions. We’ve seen first-hand the difference that investments in underserved communities and businesses can make and we are partnering with leaders in this area to maximize the impact of these investments.

One recent example is our work with Opportunity Alabama, a 501(c)(3) organization created to help close the access to capital gap for Alabama’s low-income places through Alabama Opportunity Zone developments. These 158 Census tracts were designated by Governor Kay Ivey in 2018 (and other governors across the U.S.) as part of a national tax incentive program created by the Tax Cuts and Jobs Act to spur investment in targeted low-income places.

This visionary program provides access, capital and incentives for small and minority-owned businesses that are the foundation of our state.
Leroy Abrahams, President of the Regions Foundation and head of Community Affairs for Regions Bank

Since 2019 the Regions Foundation has supported Opportunity Alabama through a grant and additional collaboration. And, in 2021 the Regions Foundation joined large institutional investors, family offices, foundations and individuals as an early investor in the The OPAL Fund, a real estate-oriented investment vehicle designed to positively impact underserved communities in Alabama while generating returns for investors.

“We are excited to be among the first investors in The OPAL Fund, created to accelerate more inclusive economic development across Alabama,” said Leroy Abrahams, President of the Regions Foundation and head of Community Affairs for Regions Bank. “This visionary program provides access, capital and incentives for small and minority-owned businesses that are the foundation of our state, building capacity, creating jobs and generating sustainable growth. We look forward to seeing the results of this investment and the positive impact on our communities for years to come.”

The OPAL Fund exists to provide investors – particularly those from underrepresented backgrounds – with a pipeline of commercial real estate deals that Opportunity Alabama has curated.

“We see The OPAL Fund as our opportunity to get more local capital off the sidelines and into projects in our own back yard,” said Alex Flachsbart, founder and CEO of Opportunity Alabama, and one of the principals behind The OPAL Fund. “We appreciate organizations like the Regions Foundation that believe in our work and the power that these investments have to improve communities.”

The OPAL Fund team has a dual investment mandate: find real estate deals in Alabama’s Opportunity Zones that are capable of producing market rate risk-adjusted returns, while also meeting an expressed community need, such as workforce housing and other sustainable real estate development. Further, The OPAL Fund is a vehicle for facilitating access and wealth creation for Black and brown Alabamians by building a network of minority and woman-owned business enterprises to engage in predevelopment, during construction, and throughout the anticipated 10-year investment period. In addition, The OPAL Fund is actively recruiting Black and brown investors with the goals of building wealth and building Alabama’s first minority investor-driven real estate investment network.

For more details, check out this article about The Opal Fund, Opportunity Alabama, and what’s next.

Share
Share on Facebook
Share on X
Share on LinkedIn
Share via Email
Subscribe

Trending Articles

  • 1.

    ‘False Alarm, Real Scam’

  • 2.

    September 2025 | Economic Commentary

  • 3.

    10 Tips to Avoid Back-to-School Scams

  • 4.

    The Peak of Hurricane Season: Avoiding Disaster Scams

  • 5.

    3 Tips to Avoid Retail Refund Scams

Related Articles

Category: News

SEC 2025: Stretching for the Extra Yard

Dramatic photo of a football tackle with the person holding...
Category: Community Engagement

Opening Doors to a New School Year

Back-to-School Backpack Drive at Tampa and Regions Next Step Reality...
Category: News

Regions Financial to Announce Third Quarter 2025 Financial Results on Oct. 17, 2025

Regions Center in Birmingham, Alabama
University of Alabama at Birmingham Campus with Regions Bank logo...
Category: Community Engagement

Blazing a Trail: Regions Teams Up with UAB to Ignite Innovation and Opportunity

Group photo surrounding a giant check presentation.
Category: Community Engagement

Investing in Opportunity: Regions Foundation Supports Workforce Growth

The Inner City Capital Connections program kickoff at Miami.
Category: News

AI, Capital and Community: Helping South Florida Entrepreneurs Stay Competitive – At No Cost

Regions Center in Birmingham, Alabama
Category: News

Regions Bank Reduces its Prime Lending Rate

Regions.com | About Regions | Investor Relations | Privacy & Security | Website Terms of Use | Contact Regions | Careers at Regions
© 2025 Regions Bank Member FDIC |
All Rights Reserved | Member FDIC | Equal Housing Lender | Online Privacy