The first high-rise luxury apartment development in downtown Minneapolis in nearly three decades, the 26-story The Nic on Fifth embodies Opus’ commitment to making downtown a desirable destination for commerce, residents and visitors.
In September 2014, The Nic on Fifth welcomed its first residents, opening its doors with 40% of the building pre-leased by renters. By early November, it was nearly 60% leased.
The Nic on Fifth is a great example of what we want to see in downtown Minneapolis. It’s a project that will help us accomplish our goal of doubling the downtown residential population. And it’s such a beautiful project that it also contributes greatly to the vitality, sense of progress and positive vibe downtown.
President and CEO
Minneapolis Downtown Council
Aligning with the city’s 2025 vision for more urban residential options, The Nic on Fifth also contributes to the revitalization of the north end of Nicollet Mall and is helping to shape Minneapolis’ central business district.
With 253 units, including 26 penthouses, the building brought luxury rental options to people looking to live in an urban setting. All units feature condo-level finishes with granite countertops, stainless steel appliances and floor-to-ceiling windows with floor plans ranging from alcoves to three-bedroom penthouse suites.
The building also includes 30,000 square feet of indoor and outdoor amenity space on the sixth floor. In the summer, residents can take advantage of the outdoor garden roof deck with a pool and spa, fire pits, a kitchen and grilling lounge, dog run and Zen walking path. Indoor amenities include:
The Nic on Fifth, which features a variety of sustainable elements, received official LEED Silver certification in early 2015.
In addition to abundant amenities and impressive views, the transit-oriented development provides convenient access to the city’s light rail and bus systems and close proximity to more than 26 million square feet of existing office space in downtown as well as entertainment and dining options andthrough access to eight miles of skyway. The Nic also offers easy access with a light rail platform to one side and sidewalk access to Nicollet Mall, an eleven block pedestrian and public transit mall, on the other.
Opus’ joint venture partner was Founders Properties, L.L.C., a private real estate investment firm with more than 100 properties nationwide. SunTrust Bank, a super-regional bank headquartered in Atlanta, financed the project.