Opus to Develop Stadium Village Flats

12/6/2010
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MINNEAPOLIS, Minn. - The Opus Group announced the purchase of three parcels of land in the Stadium Village area near the University of Minnesota’s East Bank campus on which an apartment and retail complex to be known as Stadium Village Flats will be developed.

Stadium Village Flats will be a six-story building including 120 apartments on the five upper floors, retail space on the ground floor and two levels of below-ground parking. The site for the new development is bounded by Washington Avenue SE and Ontario Street SE in Minneapolis. It is currently occupied by two retail buildings and a parking lot.

The complex will include a mix of studio, one-, two-, three- and four-bedroom units, with the predominant unit type being two-bedroom. In virtually all units, each bedroom will have its own bath.  “These will all be furnished units with 9-foot ceilings and high-end finishes,” said Dave Menke, senior vice president and general manager of Opus Development Corporation. “The location and amenities will make Stadium Village Flats the preeminent apartment project for University of Minnesota students.  With the high demand for quality housing in the area, we expect this to be a very successful project.”

Menke said many units will have views of TCF Bank Stadium and that the complex will include a fitness room and lounges on each floor. A CVS/pharmacy store is a committed tenant for a portion of the complex’s ground level retail space. Menke said an additional 5,000 square feet of retail space is available for lease.

Site preparations for the $30 million complex are expected to begin in early 2011. The project is scheduled to be complete by August 2012. Elness Swenson Graham Architects Inc., based in Minneapolis, is the project architect, and Opus AE Group, Inc. is handling the structural engineering.

About The Opus Group
The Opus Group is a family of national commercial real estate companies headquartered in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales and leasing. The Opus Group includes Opus Holding, L.L.C. and Opus Holding, Inc. and their operating subsidiaries, Opus Development Corporation, Opus Design Build, L.L.C. and Opus AE Group, Inc. Specializing in office, industrial, retail, residential living, institutional and government 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.

For a high-resolution rendering of the Stadium Village Flats, please email  the media contact at csullivan@webershandwick.com.