Skip to main content

Construction to begin on luxury apartment tower in Mpls.

  • Author:
  • Updated:
    Original:

Opus Development Corp. and Founders Properties, both based in Minnetonka, are making preparations to break ground on the first high-rise rental building in downtown Minneapolis in nearly three decades, the Star Tribune reports. The 253-unit, 26-story Nic on Fifth, located at South Fifth Street and Nicollet Mall, will be complete in the summer of 2014.

The Business Journal notes Opus secured financing for the $100 million project in August. The luxury apartment building was first announced in September 2011.

Opus Development also plans to build a nine-story office building for Xcel Energy on the corner of South Fourth Street and the Nicollet Mall in downtown Minneapolis.

Next Up

Stallings surveillance footage - screengrab - crop

City of Minneapolis, Jaleel Stallings reach $1.5M settlement

Although a settlement was made, the city will not admit fault or take any responsibility for the incident as part of the agreement with Stallings.

Kayak

2 rescued after kayaks capsize on Sauk River

Recent heavy rainfall produced a strong currents on the water.

covid 19 test

How to order 8 free at-home COVID-19 tests

A third round of free tests is now available from the U.S. government.

4303450641_ec7536c6ea_k

Three new Grandstand shows added for Minnesota State Fair 2022

The Beach Boys and Portugal. The Man are among several acts booked.

St. Louis County

St. Louis County set to declare state of emergency ahead of peak flood levels

Volunteers are urgently needed for sandbagging efforts in a small community near Voyageurs National Park.

Screen Shot 2022-05-16 at 5.03.30 PM

Brothers Bar & Grill closes in downtown Minneapolis

The Midwest chain closed its St. Cloud location in 2018.

Ken Jeong

Licensed physician Ken Jeong to do standup in MN this September

The licensed physician will take the stage at Treasure Island Resort and Casino on Sept. 30.

Osseo Police Department

Osseo PD says officer did not pursue suspect who caused fatal crash

The crash happened in Brooklyn Park early Sunday morning.

221 Main Street. E. Albert Lea

Suspect arrested after 3 family members stabbed in Albert Lea

The three victims are related, according to police.

Related

Luxury apartments in demand in Twin Cities

Looking to rent a place in the urban center, with all the amenities, close to shopping, gyms and a good coffee shop? Get in line. Developers are scrambling to meet demand for high-end apartment complexes in the Twin Cities. In the fourth quarter of 2011, Minneapolis issued permits to build 1,900 residential units in downtown alone, KARE 11 says.

Work begins on luxury apartments in Loring Park

Chicago-based Magellan Development Group on Thursday started construction on the 36-story mixed-use high-rise at 1369 Spruce Place in the Loring Park neighborhood of Minneapolis, KARE 11 reports.

Construction to begin on $39M North Loop project

Minneapolis-based Schafer Richardson is developing the six-story, 204-unit market rate apartment building in the North Loop area of Minneapolis' Warehouse District. The Business Journal reports Minneapolis-based Kraus-Anderson Construction Co. is set to start constructing the $39 million project dubbed "Third North" on Thursday. The apartment complex is scheduled to open in December of next year.