Tell us about your Opportunity Zone Project
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Project Resources

Substantial Rehabilitation

To qualify a project must invest more into rehabilitation than was paid for the building (excluding land value) within the first 30 months. This can include energy efficiency upgrades such as solar panels.

New Construction

Empty land where new construction can be built upon is approved. Either residential or commercial space can be built.

There are many ways to identify possible projects or properties that are for sale or could be for sale.  FYI: Commercial real estate isn’t at all like residential.  There is no central listing service like the MLS.  The best option is literally to get in the car and drive around Opportunity Zones.  Look for for sale and for lease signs on banners, in windows, and ask around.  We are looking for properties that are in really rough condition.  Here are our favorite methods for identifying investment properties.

#2 MN Commercial Area Realtors - Public Listings

This website contains the most commercial properties for sale in the Twin Cities. This site is where brokers market their properties for sale and lease. The map function is helpful but you will have to toggle back and forth between an OZ map and this map to determine what properties are located in Opportunity Zones. You can click on a dot on the map to find out more details. Many properties have PDFs of marketing pieces available for download that contains information on the property and surrounding area. MN-OZA hopes to maintain a professional reputation in the industry and asks you to refrain from contacting brokers until directed and coached by a MN-OZA member.
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#3 Tax Forfeited Properties

Occasionally people and businesses fail to pay their property taxes and they ultimately forfeit the property. The county ultimately auctions the parcel off and if that isn't successful they then offer it for sale over the counter. Here are the links for Hennepin and Ramsey County:

#5 MN MLS Commercial Search

The MN MLS website contains many lower priced commercial properties for sale in the Twin Cities. This site is where residential Realtors market their properties for sale and lease. The map function is helpful but you will have to toggle back and forth between an OZ map and this map to determine what properties are located in Opportunity Zones. You can click on a dot on the map to find out more details. MN-OZA hopes to maintain a professional reputation in the industry and asks you to refrain from contacting Realtors until directed and coached by a MN-OZA member.
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#6 HoodStarter Website

This website list parcels that may be available within the city of Minneapolis and St. Paul. These parcels are typically owned by the county, city, or another government entity.

Ok, you have identified a property that is located in an Opportunity Zone and appears to be a fit with either new construction or substantial rehabilitation….Now what?

Here’s the fun part!  Your job is to envision the future, get it on paper, communicate it, work on those leadership skills, network, perseverate, dream, and will it to happen.  If you build it they…. might come.  It’s a field of real estate dreams out there start dreaming about what could be.

Project Fit / Social Impact Review:

  • Is this a project that the community could support?  Could you envision community members volunteering their time to get investors to see this project happen?  Can you think of people who would want to work on a Community Impact Advisory Board? Is this a transformational project?
  • If out state, are there local partners, developers, builders, property managers, including a local supplier base and vendor businesses that can ensure the projects success?
  • Does the project fit with MN-OZA’s requirement to own and operate the real estate for 10 years?  Does the project have a local impact and create attainable housing, support companies, non-profit organizations or local independent small businesses?

Resources for Developers and Agents

 

Links to Hennepin and Ramsey County Property Maps.

Here are some great resources to learn more about commercial real estate.

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#3 Online Learning Resources

Occasionally people and businesses fail to pay their property taxes and they ultimately forfeit the property. The county ultimately auctions the parcel off and if that isn't successful they then offer it for sale over the counter. Here are the links for Hennepin and Ramsey County:
Municipal Information for Minneapolis and St. Paul

City Council Person for Area

Minneapolis Zoning Map with Opportunity Zones

St. Paul Zoning Map with Opportunity Zones