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Delaware Opportunity Zone Fund I

The Opportunity Zone Fund Directory is a compilation of publicly-announced funds formed to attract investment in Opportunity Zones (OZs). NCSHA is tracking only multi-project OZ funds. To learn more about a fund included in this directory, click on the name.

Please review the terms of the use before using the directory. To request to add your fund to the directory, please complete this form.

Directory Stats as of July 1, 2020:

215 Total Funds $47.2 Billion Total Anticipated Investment 63% of Funds Target Investment in Affordable Housing and Community Development

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Fund NameDelaware Opportunity Zone Fund I
Fund Manager or Organizer(s)Grey Fox Capital, LLC.
Fund Size$50,000,000
Investment Focus
Affordable Housing, Commercial Real Estate, Community Revitalization, Multifamily Residential, Student Housing, Other
If Other, Please Specify:Educational Facilities
Geographic Focus
Additional Fund Details

Grey Fox Capital's Delaware Opportunity Zone Fund I focuses on a diversified portfolio of real estate and small business projects in Delaware and provides significant tax incentives for investors. The fund's primary projects are:

1. Commercial buildings on STAR Campus at the University of Delaware
2. A warehouse near Gulftainer’s $580M expansion of the Port of Wilmington
3. A Microtel managed by the 2016 Winner of Wyndham’s “Hotel of the Year”

Our partners live in the local communities, understand the State’s layered tax incentives, work with experienced local developers, and partner with established anchor tenants and proven business leaders. These advantages can generate attractive returns for investors, support long-term asset appreciation, and promote inclusive community advancement.

Organization Details

Grey Fox Capital is a Limited Liability Company that is raising capital for a Delaware-focused opportunity zone fund that invests it in opportunity zone projects in local Delaware neighborhoods.

The company has evaluated dozens of projects throughout Delaware over the past year and has narrowed its focus on eight projects that meet its return objectives (9-13% IRR). Largely, these projects incorporate the State’s layered tax incentives and have established long-term anchor tenants. These advantages can generate attractive returns for investors, support long-term asset appreciation, and promote inclusive community advancement.

As the first Delaware-focused opportunity zone fund, Grey Fox Capital is committed to making a significant, long-term, and positive impact that will benefit all Delawareans.

Fund Contact....
NameKevin Dombrowski
Job TitlePartner
Phone(312) 218-2806
EmailEmail hidden; Javascript is required.

The listings on this page are provided as a free service to potential community development funding recipients. The information contained on this page is for informational purposes only and does not constitute an offer to sell or solicitation of an offer to buy securities. NCSHA does not provide investment advice, and these listings are not to be construed as a recommendation to engage in a transaction with a particular party.

The information above is based solely on information provided to NCSHA by the listed contact person for each company, and NCSHA is not responsible for any inaccurate or out-of-date information in these listings. Companies utilizing this free listing are solely responsible for obtaining necessary clearances from their compliance departments.

The information in this directory is provided “as is” without warranty of any kind. NCSHA does not accept responsibility or liability for the accuracy, content, completeness, or reliability of the information contained herein.

NCSHA will not be liable for any loss or damage that may arise as a result of the use of the information contained herein. This directory provides direct links to websites owned by other parties. The content of such sites is not within NCSHA’s control; NCSHA cannot take responsibility for the information or content thereon.

NCSHA will continue to update the directory as it becomes aware of new funds or changes to the information listed on

Case Studies: Opportunity Zone Investment in Affordable Housing and Community Revitalization

Ox Fibre Apartments

Parramore Oaks

The Tappan