MINNEAPOLIS – The Opus Group (Opus) and Greco, L.L.C. (Greco) announced today the start of construction on a 144-unit mixed-use apartment and retail development in the historic Minneapolis North Loop neighborhood.
“This first-class mixed-use project is a great addition to one of the most popular neighborhoods in the country,” said Nick Murnane, senior manager, Opus Development Company, L.L.C. “Together, our Opus and Greco team identified an unmet demand for additional quality housing in the vibrant North Loop neighborhood and we’re excited to be working together to bring this development to life.”
“We are delighted to collaborate with Opus on this opportunity to continue the progression of what has grown into a very dynamic, fun neighborhood,” said Josh Brandsted, president, Greco Properties, LLC. “The design features will be unique to the marketplace and contribute to the independent vibe of the North Loop.”
The project expands upon the collaborative efforts of the two real estate development companies in the Twin Cities market, which includes their work on the Seven Corners Gateway site in Saint Paul.
The North Loop project will include 14,000 square feet of ground-level retail space, as well as concierge services, a fitness center, dog wash and bike storage. A second-level amenity deck will include an outdoor pool and bar, grilling areas and a wood burning fireplace. The building will also feature a sixth-floor rooftop terrace with a grilling area, outdoor bar, fire pit, pool, and picturesque views of downtown Minneapolis. Additionally, tenants will be within walking distance to hundreds of some of the best breweries, restaurants and entertainment options that make the neighborhood one of the top 25 destinations to visit in the world this year, according to Fodor’s 2016 Go List.
Completion is scheduled for late summer 2017.
Opus Development Company, L.L.C. and Greco will co-develop the project. Opus Design Build, L.L.C. will be the design-builder and Opus AE Group, L.L.C. will be the architect and structural engineer of record. ESG Architects will be the design architect and interiors partner. TCF Bank is the lender.
About The Opus Group
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in healthcare, residential, office, institutional, industrial and retail projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com and follow @TheOpusGroup on Twitter.
About Greco, L.L.C.
Established in 2002, Greco provides urban infill redevelopment and building re-use in the Twin Cities. Greco is experienced in both new construction as well as historic renovations and arranges debt and equity financing. Greco saw the need for high-end property management built around an exceptional resident experience and launched Greco Properties in 2008. Greco brings their passion for development and detail into the ongoing operations of each property.