April 5, 2023

Strong Market Fundamentals Make Downtown Fargo a Solid Investment

| By Mari Hall |

Downtown Fargo’s growth in recent years has put Fargo on the national radar for more than just a cult-classic Coen Brothers movie, but it’s just getting started.

One of the most vibrant neighborhoods in the Fargo-Moorhead area, this central business district is projected to build on a decade of demographic and economic growth. A recent study estimates that downtown Fargo’s population will grow by 5,000 people within the next decade. Like many midsize cities, Fargo’s economy didn’t suffer the same major economic slump as major metros throughout the U.S. during the pandemic. Fargo’s unemployment rate is among the lowest in the country at just 2.3% in February 2023.

With such strong market indicators, there’s never been a better time to invest in downtown Fargo.

Kilbourne Group is currently accepting investments into the Great Plains Opportunity Zone Fund II (GPOZII), which already has two downtown projects in the pipeline: RiverHouse and the NP Avenue project.

 

RiverHouse

Located on the eastern edge of downtown Fargo, RiverHouse will offer future residents a living experience unlike any other in the area. With amenities such as secure bike and kayak storage, RiverHouse will combine the convenience of living in the urban core of Fargo-Moorhead with direct access to the area’s natural outdoor spaces. The project’s 115 apartments will include expansive floor plans, giving residents more space to live both indoors and out. RiverHouse is already under construction and is slated to open in the fall of 2024.

 

NP Avenue Project

The NP Avenue project, still in pre-development, will transform the 600 block of NP Avenue between the Old Broadway and Renaissance Hall, home of NDSU’s School of Design, Architecture, and Art. What is now a surface parking lot will become a mixed-use multifamily building with a city-owned and -operated parking garage with 472 stalls, 176 living units spread across five stories, and a brand-new space for the Fargo Moorhead Community Theatre.*

 

 

Kilbourne Group is accepting investments into GPOZII, limited to Accredited Investors only. To learn more about investing with Kilbourne Group, click here or contact Bill Rothman.

☎ 701.773.5017
📧 [email protected]

 

*Final parking stall and living unit counts are subject to change as project development continues.

The featured rendering of RiverHouse at the top of this post is courtesy of JLG Architects.