Opus Group Plans Luxury High-Rise in Minneapolis

By Adriana Pop

Minneapolis—The Opus Group is planning to build a 30-story multifamily and retail development in the heart of downtown Minneapolis. Construction is scheduled to begin in early October.

365 Nicollet Ave. in Minneapolis

The project aims to support the city’s goal to double the downtown population by 2025. Opus has played a significant role in the transformation of the area, having completed two major developments on adjacent blocks—The Nic on Fifth, a 26-story luxury apartment building, as well as Xcel Energy’s headquarters at 401 Nicollet.

“This project sets a new standard for luxury living in downtown, and we’re thrilled to add yet another Opus structure to the iconic Minneapolis skyline,” Matt Rauenhorst, the company’s vice president of real estate development, said in prepared remarks. “Opus is proud to continue playing a significant role in the transformation of the north end of Nicollet Mall. We’re committed to Minneapolis’ vision for growth, and our redevelopment of this site is further demonstration of our commitment and the strength of the market.”

Located at 365 Nicollet Ave., the upcoming high-rise will feature 369 apartments and 9,500 square feet of ground-floor retail space. Residents will be able to choose from a variety of floor plans, ranging from alcove units to three-bedroom options, including 36 penthouse suites. The units will feature granite countertops, stainless steel appliances and floor-to-ceiling windows.

The building will also offer residential parking facilities. Other amenities will include indoor and outdoor spaces featuring a bike lounge with repair station and seating areas, sauna and steam room, and a sixth-floor amenity deck including a yoga room, hot tub, pool and outdoor cabanas.

Situated between South Third and South Fourth streets, directly across from the Minneapolis Central Library, the building will share a sidewalk with Nicollet Mall. The new high-rise will also be connected to downtown Minneapolis’ public skyway system, offering easy access to local retail, office spaces and entertainment venues. Completion is slated for the summer of 2018.

Opus’ other Twin Cities projects in the North Loop neighborhood include VÉLO, a 101-unit “bike-centric” apartment project which opened in 2014, as well as a 144-unit community with ground-floor retail that Opus is developing with Greco LLC.

Image courtesy of The Opus Group