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MINNEAPOLIS-With financing in hand, Opus Development Corp. and JV partner Founders Properties LLC have announced the intent to break ground on a 253-unit, high-end multifamily property. Dubbed The Nic on Fifth, the project will begin offering units to the public by mid-2014.

The Nic on Fifth is located at the corner of Nicollet Mall and 5th Street in downtown Minneapolis. The luxury development will be also adjacent to the recently announced new Xcel Energy building. The 26-story luxury apartment building will be the first new high-rise residential rental building in downtown Minneapolis in nearly 30 years and will be the first high-rise apartment project designed to achieve LEED certification and feature high-end, condo level finishes and amenities.

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