In The News

From 15-story buildings to tiny apartments, Opportunity Zones mean promise — and risk

Jamie Stolpestad is building two apartment buildings in St. Paul’s St. Anthony Park neighborhood, right in the heart of an “O-Zone.”

Loren Schirber is gearing up for the “O-Zone” on St. Paul’s East Side, where he foresees at least two dozen tiny apartments, a dog park, a solar installation and an all-season food truck hall.

They’re hoping $100 million in projects will follow, including the massive redevelopment of Ramsey County’s former Government Center West building on Kellogg Boulevard.

Emerging market investing for undervalued, overlooked communities: Building dreams, opportunity

Minnesota Opportunity Zone Advisors (MN-OZA) has launched the D.R.E.A.M. Fund, an Opportunity Fund focused on Minnesota Opportunity Zones.

Investors can benefit from the federal tax incentives afforded such Opportunity Funds under the recently enacted Invest in Opportunities Act.

The D.R.E.A.M. Fund (Developing Real Estate in Emerging Areas of Minnesota) is focused on eligible real estate investments (new developments and substantial rehabilitation) within the Minneapolis-St. Paul metropolitan area Opportunity Zones and those in larger communities across Minnesota.

Developers create fund to invest in opportunity zones

A new fund hopes to take advantage of last year’s federal tax reform to put $100 million or more into real estate development in Minnesota’s most disadvantaged communities.

Across Minnesota, 128 census tracts have been designated opportunity zones under the Tax Cut and Jobs Act of 2017, marking them as low-income communities in need of investment.

Inaugural “Opportunity Zone” investment fund launches in Twin Cities

Minnesota’s first multiple-project “Opportunity Zone” fund has launched to attract investor money for real estate projects in one or more of the dozens of low-income neighborhoods selected this year in the wake of last December’s federal tax-cut legislation.
Backers of the Developing Real Estate in Emerging Areas of Minnesota (DREAM) Fund say they hope to raise up to $100 million from investors attracted by tax breaks and mission in the Minnesota Opportunity Zones. Gov Mark Dayton identified 128 low-income zones by census track in the Twin Cities and outstate Minnesota that were certified by the U.S. Treasury Department.

Developers and Investors Launch Opportunity Zone Efforts

MINNEAPOLIS—The recently enacted Invest in Opportunities Act, along with a set of guidelines issued last week by the US Treasury Department, has excited a lot of interest from developers and investors who want to take advantage of federal tax incentives now offered to projects in so-called Opportunity Zones. And that includes well-known names from the Twin Cities.

Minnesota Opportunity Zone Advisors, a mission-oriented real estate investment manager, has launched the D.R.E.A.M. Fund to focus on the state’s opportunity zones, both in the Twin Cities and other larger communities. Gov. Mark Dayton identified 128 zones that were then certified by Treasury officials, who administrator the program.

Press Information

MN-OZA seeks to drive social impact through our activities and processes. We strive to be transparent and collaborative.  We partner with local communities, community organizations, civic leaders, elected officials and under-represented community members to identify and prioritize transformative investments.

We strive to attract and inspire young people, especially people of color, to learn how to become investors, developers, real estate domain experts, community organizers, economic development leaders and the like, so we can train the next generation of community leaders.

To arrange interviews and speaking engagements please contact:

Loren Schirber  612-501-0358 or Jamie Stolpestad 203-585-7248

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