A developer has broken ground on the latest addition to the downtown Minneapolis skyline, a 30-story luxury apartment tower on the north end of Nicollet Mall.
Opus Development officially began work Oct. 3 on the nearly 370-unit high-rise, which replaces a surface parking lot across from the Minneapolis Central Library where the Ritz Hotel once stood.
The project, tentatively known as 365 Nicollet or the Ritz Residences, will have 9,500 square feet of commercial space split between storefronts on Nicollet Mall and Marquette Avenue. Amenities will include a yoga room, a sauna, a steam room and a sixth-floor deck with a pool and a hot tub.
The tower follows the Minneapolis-based developer’s similarly sized Nic on Fifth tower that opened two years ago at Nicollet & 5th. Opus also finished a new nine-story headquarters for Xcel Energy earlier this summer on the same block.
United Properties is working on the mall’s next high-rise project, the Gateway. The Bloomington-based developer is looking to build a roughly 35-story tower with a Four Seasons Hotels and Resorts and more than 160 units of luxury apartments, according to plans released in the spring.
The 365 Nicollet project is slated for completed in August 2018. Opus AE Group is the project designer and architect of record on the project. Opus Design Build is handling construction.