@Tony Vicente you need to call zoning and ask them what you can do.

Has anyone out there invested in an Opportunity Zone Fund?

As I'm new to this domain, I would to hire a consultant to perform some zoning and other due diligence activities.

Is very difficult to re zone in that area?

I've done deals in flood zones and flood insurance is not cheap. 

Ask me any questions you may have about The Red.

Correct, Shelter will be under use group 3, which will need a special permit to be allowed in M1-1 Zoning.

Ask for the zoning department.

Zoning changes might be easy in your town because it's small, but you have to realize that the overall goal of zoning is that there are zones for certain things.

For anyone considering this, it’s probably worth consulting with a local land-use attorney or planner to navigate the specifics and make sure you’re maximizing the opportunity without running into red tape.