Ancestor Square
Our first Opportunity Zone Fund, The St. George Opportunity Fund, has acquired over 20 units within the historic downtown of St. George, Utah, located in Ancestor Square.
Project Overview
Restoring History, Building Legacy
Ancestor Square is a downtown St. George revitalization project that exemplifies Rize Capital’s ability to transform underperforming, complex assets into high-performing community destinations. Acquired in 2019 at approximately 54 percent occupancy, the property required not only physical reinvestment but also strategic repositioning within St. George’s historic district.
Through the St. George Opportunity Fund, Rize raised $4.9 million in tax-deferred capital and invested $3.2 million in property improvements, new leasable space, and modernized systems. Today, Ancestor Square is fully leased and repositioned as a vibrant mixed-use anchor that reinforces the city’s downtown core.
Community Impact
Ancestor Square demonstrates how thoughtful redevelopment can strengthen the social and economic fabric of a downtown. By restoring an aging property rather than pursuing ground-up expansion, Rize preserved historic character while introducing modern functionality and destination-quality tenants. The project increased foot traffic, supported local businesses, and reinforced downtown St. George as a place to gather, work, and invest. This approach mirrors the same community-first mindset seen in the Chuckwalla project, where Rize prioritized long-term civic alignment over short-term outcomes.
Key Benefits for Investors and Partners
Proven value creation in challenging assets
Ancestor Square shows Rize’s ability to identify overlooked opportunities and execute disciplined redevelopment strategies that materially improve performance.
Opportunity Zone execution expertise
The project highlights Rize’s experience structuring and deploying tax-advantaged capital to unlock value while aligning investor and community outcomes.
Repeatable redevelopment model
Lessons from Ancestor Square inform future projects like Chuckwalla, reinforcing a consistent approach to entitlement complexity, asset repositioning, and stakeholder collaboration.
Features and Amenities
Discover the unique features that set our development apart, blending modern living with natural beauty.
01
Fully leased mixed-use environment
The property now supports a diverse tenant mix that drives consistent activity and reinforces downtown St. George as a destination.
02
Modernized building systems
Investments in energy-efficient infrastructure and updated mechanical systems improved long-term operational performance.
03
Expanded leasable space
Strategic reconfiguration added new leasable square footage, increasing both functionality and revenue potential.
04
Historic character preservation
Renovations respected the architectural context of the district while elevating the overall tenant and visitor experience.
Explore Our Image Gallery
Browse through our collection of stunning project renderings, site images, and architectural designs that bring our vision to life.
Strategic Development Vision
Rationale for Growth
Ancestor Square illustrates Rize Capital’s belief that growth does not require expansion into new land alone, but can be achieved by reinvesting in the heart of a community. As St. George continues to grow, demand increases for walkable, activated downtown environments that support commerce, culture, and connection. By pairing Opportunity Zone strategy with disciplined redevelopment execution, Rize demonstrated at Ancestor Square how capital can be deployed to generate strong returns while delivering lasting community value. This same philosophy underpins Rize’s broader portfolio, including technically and politically complex sites like Chuckwalla, reinforcing a track record of adaptability and long-term thinking.
Join Our Vision for Growth
We invite you to explore the exciting investment opportunities available with our Southern Utah development project. Partner with us to shape a community that balances economic growth with regional integrity. Whether you're interested in investment or development collaboration, we are eager to discuss how you can be part of this transformative journey.
