MINNEAPOLIS-With financing in hand, Opus DevelopmentCorp. and JV partner Founders PropertiesLLC have announced the intent to break ground on a253-unit, high-end multifamily property. DubbedThe Nic on Fifth, the project will begin offering units to thepublic by mid-2014.

The Nic on Fifth is located at the corner of Nicollet Mall and5^th Street in downtown Minneapolis. The luxurydevelopment will be also adjacent to the recently announced newXcel Energy building. The 26-story luxuryapartment building will be the first new high-rise residentialrental building in downtown Minneapolis in nearly 30 years and willbe the first high-rise apartment project designed to achieve LEEDcertification and feature high-end, condo level finishes andamenities.

“The Nic on Fifth will bring a new level of luxury apartmentliving to downtown Minneapolis and establish a new benchmark forthose seeking high-end luxury high-rise living," said TomLund, vice president, real estate development at OpusDevelopment Corp. in a press release. "The combination of extensiveamenities, a light rail station, skyway connectivity, restaurantsand retail will be very attractive to residents looking for luxuryhigh-rise living.”