Downtown Mpls. Luxury Apartments Move into Next Phase

Updated: 11/13/2013 11:41 PM By: Katherine Johnson

Nic on Fifth
Nic on Fifth
Photo: Photo: Courtesy of the Opus Group

It's pretty tough to operate a construction site in downtown Minneapolis, but the Opus Group is handling it just fine as they move quickly on to the interior phase of the Nic on Fifth luxury high-rise apartments.

Wednesday morning, workers raised the last steel beam to the main building of the new Nic on Fifth luxury high-rise, hoisting it by crane all the way up to the top of the 26-story structure. To celebrate the triumph of moving onto the next phase of construction, more than 250 project workers signed the beam before it was secured in place. Nic on Fifth is the first luxury high-rise apartment building to be built in downtown Minneapolis in more than 30 years.

"It's a happy day and a sad day for us," Tom Lund with the Opus Group said. "Putting the beam on the top of the building is very significant to us; we're almost home."

More housing projects within the city are moving along quickly, too.  The Opus Group, the same group working on Nic on Fifth, is almost done with The Venue at Dinky Town, which will open to students and tenants next fall. Finally, The Velo is coming up quickly in the North Loop in Minneapolis. It will house even more apartments right across the street from the new condos over Whole Foods. The Opus Group says Minneapolis is a city begging for more residential space.

"There's very, very large demand for living downtown," Lund said. "Downtown is a cool place to live now -- restaurants, entertainment, all the sports activities; it's a great spot. Everything that gets built gets filled, which is a good thing."

Nic on Fifth is built to house 400 tenants and will be finished in August 2014.