At Opus, our development team has a track record for recognizing quality commercial real estate opportunities and promptly acting on them. 365 Nicollet in downtown Minneapolis is a prime example.
This opportunity, like so many at Opus started with the location of the site. Formerly a surface parking lot, the site is situated on the north end of the iconic Nicollet Mall, a 12-block, pedestrian street in downtown Minneapolis that is undergoing a significant revival. It also links two of the state's strongest urban development neighborhoods—the expanding business and entertainment district on the Nicollet Mall and the vibrant and trendy North Loop neighborhood.
Unmatched in the Market
365 Nicollet is a 30-story tower with 9,500 square-feet of ground level retail space. It features 370 luxury apartment suites and a combination of unique, high-end amenities and finishes unmatched in the local market.
365 Nicollet is a project that is truly differentiated with in the Twin Cities. It sets a new bar for luxury residential living in downtown Minneapolis a step above The Nic on Fifth, our award-winning development regarded within the industry as the highest-quality luxury apartment development in the city.
Recently the first wave of residents were welcomed to 365 Nicollet, a full two months ahead of the original schedule. We began developing 365 Nicollet in the spring of 2014 as we watched the success of The Nic on Fifth and considered what could go on this site. We broke ground in September 2016 and completed the project two years later.
Learning from The Nic on Fifth
To inform our work developing 365 Nicollet, our team leveraged lessons learned from The Nic on Fifth project, located just a block away. For example, The Nic helped us identify the ideal mix of residential unit types and the best amenities for residents. In addition, learnings from constructing the building helped our design-build team gain efficiencies, which enabled the early delivery of 365 Nicollet.
Aligning with the Vision
365 Nicollet supports the City of Minneapolis' goal for the Nicollet Mall redevelopment to support transit and pedestrian traffic and the
2025 vision of doubling the downtown population. We collaborated closely with the City on 365 Nicollet as we did with
Xcel Energy at 401 Nicollet and
The Nic on Fifth®. Which resulted setting buildings back farther from the street to create generous sidewalks and designing the look of welcoming store fronts or spaces on the ground level that encourage strolling, browsing, shopping and eating. These features are vital to creating community in downtown Minneapolis and will contribute significantly to the transformation of the Mall.
365 Nicollet plays a role in and benefits from the transformed Nicollet Mall. We embraced the city's downtown revitalization goals while reaching our goal of taking luxury living to new heights in downtown Minneapolis—both figuratively and literally.
Development might have started in 2014, but this project was nearly four decades in the making. Read about our history with the site in the Star Tribune.