Opus set to break ground on 26-story apartment tower on Nicollet

Share this:
December 3, 2012 // UPDATED 5:44 pm - January 1, 2013
By: Ben Johnson & Sarah McKenzie
Ben Johnson & Sarah McKenzie

NICOLLET MALL — Opus Development Corp. is moving forward with construction of its new luxury apartment tower — The Nic on Fifth.

The 26-story tower will have 253 units, including 26 penthouses, at 5th & Nicollet, according to a news release on the project. It will go up next to the new Xcel Energy building Opus is also developing.

“With the financing secured, Opus is thrilled to begin work on The Nic on Fifth. Minneapolis is definitely a ‘top-tier’ city for both equity investors and lenders,” said Dave Menke, senior vice president and general manager of Opus Development Corp.

Opus also plans to pursue a LEED certification for the project. Like many other apartment projects in the works, the developer is touting a lot of high-end amenities, including a 24/7 door attendant and concierge service, outdoor roof terrace with pool and spa, yoga studio, outdoor fire pit and a dog play area. It will also be connected to the skyway system.

The building is expected to be ready for tenants by summer 2014.

Developers involved in the project were also involved in the 39-story Carlyle and 27-story Grant Park condo projects. Opus is also working on another apartment development in the North Loop called Velo Apartments — a proposal for 106 apartments at 103 N. 2nd St.