Kilbourne Group was founded in 2006 by Doug Burgum to jump start there vitalization of downtown Fargo’s urban core and economic vitality. Kilbourne Group has invested in historical redevelopment and mixed-use in fill projects designed to create a vibrant 18- hour city that offers unique experiences and places designed for people. With proven expertise in urban development, fund management, and real estate management, Kilbourne Group is guided by the knowledge that vibrant neighbor hoods create smart, healthy cities.
Q & A with President, Mike Allmendinger
Q. How did Kilbourne become a real estate developer?
A: After The City of Fargo and the community created the downtown master plan, Kilbourne Group was inspired to play its part in the revitalization of the neighborhood, purchasing its first buildings in 2003. Through early development stages, we realized the positive impact for all taxpayers in Fargo by redeveloping existing neighborhoods with existing infrastructure and knew the result of the work would be impactful for the whole community. Since then, Kilbourne Group has been renovating historic buildings and dreaming big to fill in the gaps left by surface parking lots. Over the last 10 years, mixed-use urban infill projects designed to create spaces for both people and cars have become our focus.
Q. How does your company try to contribute to the local community?
A: Kilbourne Group is committed to being a good neighbor by supporting vibrant, growing cities. We focus our philanthropic and volunteer efforts toward organizations that foster the vibrancy of downtown Fargo.
Q. What are some of the biggest challenges you face as a developer in this area?
A: Real estate development always has challenges to overcome to move projects forward. The post-COVID financial impacts are currently the biggest hurdle. The macroeconomics of construction costs and interest rates require more creativity to solve while maintaining a high-quality project. Kilbourne Group is lucky to work in a community that has a great economic base for continued growth, which is fundamental for getting any project off the ground.
Q. Where do you see our local commercial real estate market heading?
A: There is demand for businesses to grow into their own spaces locally, whether that is office, food and beverage, or retail. New entrepreneurs are always popping up, and we have a growing population that is hungry to support local businesses. There are many real estate developers in the metro that build spaces for start-ups, but Kilbourne Group is focused on bringing them to unique neighborhoods where people gather to work, live, and play.
There are many types of Real estate development. At Kilbourne Group, our team is most excited when we have the opportunity to develop in walkable neighborhoods, full of safe and exciting experiences for all to enjoy. When people have great experiences, memories are created and that builds communities. It is very rewarding for our team to work on projects that build our community.
