Bernardi entity buys Opus’ Velo project
An entity related to Edina-based Sentinel Management Co. spent $3.7 million to acquire the site of a 101-unit North Loop apartment complex that Opus Development Corp. plans to build.
View ArticleBusiest block in downtown: 2nd apartment tower planned on Minneapolis site
An oft-neglected block in downtown Minneapolis — long home to empty retail buildings, a parking ramp and surface parking lots — is poised for a major transformation anchored by two upscale apartment...
View ArticleBuilding permits bloom in April
Despite the prolonged winter and rising costs, the Twin Cities homebuilding market is wrapping up its busiest April since 2007. Local cities issued 372 permits for 817 housing units this month,...
View ArticleTapping apartments to pay for streetcar line
The Minneapolis City Council is scheduled to vote Tuesday on a plan to help fund a future streetcar line that would run from the south side to the northeast, right through downtown and Nicollet Mall....
View ArticleMinneapolis approves streetcar districts
The Minneapolis City Council on Tuesday unanimously approved a plan to tap into tax revenue from the city’s apartment boom to help pay for a future streetcar line.
View Article2013 so far: Lucky for some, not so for others
2013 is shaping up to be lucky for apartment developers, unlucky so far for the St. Paul Saints ballpark project in downtown St. Paul and a mixed bag for many of the other key developments Finance...
View ArticleTurning point for apartment boom?
Developers, investors and lenders are casting a wary eye toward the coming year as thousands of new luxury apartments are expected to flood the market.
View ArticleTowering moment for Nic on Fifth
Opus Development Co. workers put the final steel beam in place Wednesday for the apartment tower, which is casting a long shadow over downtown Minneapolis.
View ArticleNew Met Council policy seems more developer-friendly
City officials are looking at Opus Development’s Nic on Fifth project in downtown Minneapolis as an example of what the Metropolitan Council can do to help developers.
View ArticleMortenson pays $4.1M for 4Marq property
Mortenson had been planning to start construction on its 30-story 4Marq apartment tower in Minneapolis in the spring, but it will now break ground in December.
View ArticleTopping off in Loring Park (update)
Magellan Development Group placed the final beam atop its 36-story LPM Apartments on Tuesday in downtown Minneapolis, and leasing will begin next month.
View ArticleFast-forward to 2015: What you’ll see at 20 construction sites
From Shakopee to the St. Croix River, some noteworthy multiyear construction projects got off the ground in 2013, and the next 12 months promise to be eventful as construction progresses. Here’s a look...
View ArticleAre condos back? Developer Stanton revives proposal
Nearly a decade after developer Jim Stanton proposed a condo project in downtown Minneapolis, his long-stalled plan may finally become reality.
View ArticleNic on Fifth shows up in pitch to investors
The Opus Group’s 253-unit Nic on Fifth apartment tower, one of the largest apartment developments under construction in Minneapolis, appears to be for sale.
View ArticleCenterPoint revs up Minneapolis HQ project
Houston-based CenterPoint Energy is moving forward with its new Minneapolis headquarters on Nicollet Mall.
View ArticleCeresota plan shifts to assisted living
More than a year after winning approval to convert the historic Ceresota Mill building in Minneapolis to 117 apartments, the Dworsky family is back with a smaller plan.
View ArticleOpus starts leasing Nic on Fifth, releases interior renderings
The Minnetonka-based Opus Group is ready to begin leasing one of downtown Minneapolis’ largest apartment projects.
View ArticleHeavy hitters seek air rights
Which developer is chosen for a key block next to the new Vikings stadium could influence the development pattern for the remaining Downtown East area.
View ArticleOpus plans offices, housing north of Nic on Fifth
The Minnetonka-based Opus Group is in the early planning stages for a new block-wide, mixed-use project in downtown Minneapolis.
View ArticleApartment vacancy rate doubles in downtown Minneapolis
While the vacancy rate has increased amid the construction boom, the submarket still accounted for 40 percent of the absorption in the Twin Cities — and rents keep climbing.
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