Great Plains Opportunity Zone Fund II

Download the GPOZII Brochure

2 Projects  |  300 Units
Great Plains Opportunity Zone Fund II

The Great Plains Opportunity Zone Fund II (GPOZII) is sponsored by Kilbourne, LLC and is dedicated to Opportunity Zone eligible real estate development primarily in downtown Fargo, North Dakota and other Opportunity Zones in the Great Plains. We are raising up to $26 MM of capital for investment into two projects in an established and growing urban neighborhood with a proven market.

Vibrant neighborhoods create smart, healthy cities, and for nearly 20 years, Kilbourne Group has invested in historical redevelopment and mixed-use infill projects designed to create a vibrant 18-hour city. As downtown Fargo continues to grow, so does demand for living in this walkable, urban neighborhood. The GPOZII fund is welcoming investment into two new Opportunity Zone projects underway to meet that demand.

RiverHouse is under construction on the eastern edge of downtown, along the banks of the Red River of the North. Designed for those who want to be in the amenity-rich downtown energy AND surrounded by nature, residents will enjoy direct access to the water, beautiful views, and kayak storage. The 115 living units of the RiverHouse will include expansive living options with room for dining tables, more spacious bedrooms, and maximum natural light. RiverHouse is set to open in the fall of 2024.

Riverhouse rendering as of October 2022 by JLG Architects

A new mixed-use project on NP Avenue will break ground in 2023, providing 176 living units in the heart of the design district. The project also includes a 472-stall city-owned parking ramp, and a brand-new home for the treasured Fargo Moorhead Community Theatre. Amenities for residents include a class A fitness center, a shared work-from-home conference room, an indoor heated dog run and relief area, and the convenience of an on-site micro-market.

NP Avenue Mixed-Use

View more projects by Kilbourne.

Downtown Fargo

Photo by Dan Francis Photography

“Since 2005, the total assessed value of downtown properties has grown from $150 million to $1.3 billion.”
                                  – Wall Street Journal, November 2022

A Thriving Metropolitan Region

• Current population of 249,000 experiencing high growth
  • The Fargo region has grown 20% over the last 10 years.
• 21,000 college students across five higher education institutions
• 28% more millennials per capita than national average
• 20% more bachelor’s and graduate degrees per capita than US average
• $4.5 billion in building permits over last five years; $5 billion in building permits over the next five years
• 2% unemployment; consistently among the lowest in the nation
• With 12 multibillion-dollar companies headquartered in the Fargo region, the area’s economy is driven by innovation in agriculture, technology, and healthcare
• Home of Hector International Airport & Fargo Jet Center, a Top 3 Nationally Ranked General Aviation Center
• Recognized by The New York Times as recession proof
• Visit Greater Fargo-Moorhead Economic Development Corporation for current Economic Indicators

Kilbourne Group

Kilbourne, a full-service real estate firm located in Fargo, offers over 15 years of experience in development, design, construction management, and operation of real estate projects, including multifamily, hotel, commercial, and retail uses. Since 2006, Kilbourne has developed, or is in the process of developing approximately $450 million of real estate projects in downtown Fargo. Through investing in historical redevelopment and mixed-use infill projects in downtown Fargo, we aim to create a vibrant 18-hour city that offers unique experiences and places designed for people. Today, downtown Fargo is thriving with a retail district of unique retail stores, restaurants and entertainment venues, more than 5,000 residents, and a strong central business district.

There has never been a better time to invest in downtown Fargo. Contact our investment team today at 701-773-5017 or [email protected].