MINNEAPOLIS – The Opus Group (Opus) announced today plans for a 30-story multifamily and retail development in the heart of downtown Minneapolis, located at 365 Nicollet Ave. The project supports the city’s goal to double the downtown population by 2025, driving business vitality and cultural renewal in the area, particularly the north end of Nicollet Mall. Opus has played a significant role in the evolution of this area, having recently completed two major projects on adjacent blocks – The Nic on Fifth® and Xcel Energy’s headquarters at 401 Nicollet. Construction on the new high-rise is slated to begin in early October.
“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,” said Matt Rauenhorst, vice president, real estate development, Opus Development Company, L.L.C. “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 between South Third Street and South Fourth Street, the high-rise will feature 9,500 square feet of retail space on the ground level with 369 apartment units. Floor plans will range from alcove units to three-bedroom options, including 36 penthouse suites. All residences will include condo-level finishes with granite countertops, stainless steel appliances and floor to ceiling windows. The distinctive architecture for the building exterior will feature a dynamic balcony pattern and large glass elevations. The structure will also include residential parking facilities.
Providing top-of-the line amenities to residents, the pet-friendly building 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, among other offerings. Additionally, the building will be designed to meet LEED certification.
The space will be the model of contemporary urban living. Situated directly across the street from the Minneapolis Central Library, the building will share a sidewalk with Nicollet Mall, central to pedestrian activity and public transit. The development will also be connected to downtown Minneapolis’ public skyway system for added convenience to local retail, office spaces and entertainment venues.
Opus Development Company, L.L.C. and Opus Design Build, L.L.C. will be the project’s developer and design-builder, respectively. Opus AE Group, L.L.C. is the architect and structural engineer of record. The project is slated for completion in summer 2018.
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 industrial, office, residential, retail, healthcare and institutional 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.