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Old September 21st, 2011, 05:35 PM   #1
spectre000
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MINNEAPOLIS | The Nic on Fifth | 288ft | 26 fl | T/O

Opus has unveiled plans for a new 33 story apartment tower at the former Powers Department Store site in downtown Minneapolis. It will have 330 apartments. About 25,000 square feet of commercial space on the first and second floors. It will have a 7-story podium (1st-2nd commercial, 3rd-6th parking, 7th will be the residential amenities floor). Construction is anticipated to start in spring 2012 and be complete by late 2013.


ESG is the architectural firm who is designing the project.

The current parking lot at Nicollet Mall and 5th Street.

Last edited by desertpunk; June 20th, 2012 at 05:28 AM.
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Old September 24th, 2011, 05:20 AM   #2
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How tall is it?
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Old September 24th, 2011, 09:15 AM   #3
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nice good some thing proposed in Minneapolis
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Old September 25th, 2011, 03:44 PM   #4
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Quote:
Originally Posted by kingsc View Post
How tall is it?
Unknown for now. Probably 350-400 ft.
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Old December 8th, 2011, 10:36 PM   #5
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The project is going before the city's Planning Commission next. Site plans posted, and the height is confirmed at 357 feet.

http://www.ci.minneapolis.mn.us/cped...an-BZZ5404.pdf
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Old December 15th, 2011, 12:00 AM   #6
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The City Planning Commission voted to approve all variances and site plans for the project.
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Old June 11th, 2012, 10:26 PM   #7
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This project is still very much alive,

http://www.startribune.com/local/blogs/158462805.html

Mpls. apartment boom underway
Posted by: Eric Roper Updated: June 11, 2012

"...Opus Development says construction is expected to begin in October, and finish in mid-2014..."
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Old June 11th, 2012, 10:35 PM   #8
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Good! Someone needs to change the title from 'Pro' to 'App'
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Old June 20th, 2012, 02:09 AM   #9
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Height reduction,

"...where it's planning to develop The Nicollet Residences, a new $90M+ high-rise apartment tower.

The Nicollet has been scaled back to 250-units and 27-stories (taking out six floors), although the apartments will still have all the amenities and luxury aspects called for with the original design.

Opus is in "in the final stages" of securing its financing and scheduled to start construction in November, Menke said."

http://www.bizjournals.com/twincitie...a=twt&page=all



The original height was actually 365 feet not 357 in the title. Each apartment floor is 9' 8". So the new height will probably be around 307 feet.
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Old August 24th, 2012, 12:44 AM   #10
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Opus gets financing Nicollet Apartment

Minneapolis / St. Paul Business Journal by Sam Black, Senior reporter
Date: Thursday, August 23, 2012

"Opus Development has secured financing for the Nicollet Residences apartment tower, a 27-story project in Minneapolis that it announced last fall.

It will be the tallest building built in downtown Minneapolis in the past half decade.

"We have secured our financing and the ownership will be Opus and Opus affiliates," said Dave Menke, senior vice president and general manager of Opus Development.

Menke declined to identify the source of debt for the 250-unit luxury apartment project, but he described the provider as a "large regional bank."

"We are now scheduled for a demolition of a small building on the site in early October and then we will have construction start right after that, probably tail end of November and early December," Menke said.

The building will be complete in the summer of 2014.

Opus isn't disclosing the total value of the project, but sources have estimated the development costs at about $90 million.

The Nicollet Residences are next to the proposed $50 million to $60 million headquarters project that Opus is building for Xcel Energy Corp. at the corner of Nicollet Mall and South Fourth Street."
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Old November 20th, 2012, 06:36 AM   #11
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Luxury apartments to rise 26 stories on Nicollet Mall

"Preparations will begin Tuesday along the barren northern stretch of Nicollet Mall to make way for a 26-story luxury apartment tower -- the first new high-rise rental building in downtown Minneapolis' core in nearly three decades.

Opus Development Corp. and Founders Properties, both of Minnetonka, recently shored up financing for the project, expected to cost about $100 million. The 253-unit apartment tower, called The Nic on Fifth, will begin leasing studios, one- and two-bedroom units and penthouses in the summer of 2014. Rental rates have not been determined..."


Not a fan of the new name.
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Old November 20th, 2012, 01:50 PM   #12
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Still a good filler. And another empty lot gone.
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Old December 6th, 2012, 12:08 AM   #13
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The latest render, including the new Xcel HQ building planned to the north of the building (or left in the picture).



Also final height appears to be approximately 288 feet/88 m. So I guess this gets demoted to "General Urban Developments".

http://en.phorio.com/nic_on_fifth,_m..._united_states
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Old December 22nd, 2012, 11:18 PM   #14
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image hosted on flickr

The Nic on Fifth under construction by spectre 000, on Flickr

image hosted on flickr

The Nic on Fifth under construction by spectre 000, on Flickr

image hosted on flickr

The Nic on Fifth under construction by spectre 000, on Flickr
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Old December 29th, 2012, 09:23 PM   #15
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Quote:
Originally Posted by spectre000 View Post
The latest render, including the new Xcel HQ building planned to the north of the building (or left in the picture).



Also final height appears to be approximately 288 feet/88 m. So I guess this gets demoted to "General Urban Developments".

http://en.phorio.com/nic_on_fifth,_m..._united_states
They took away the cantilevered crown which works better with the shorter height. All and all, it's a great project, especially with the beautiful street level design and how it relates to the intersection. However, I still think this location had much more potential: it really should have been a taller and a more architecturally significant building. I believe if the developers would have been a little more aggressive, it could have been a larger mixed use building with an added dimension of a hotel etc. The problem is the times we live in (coming out of a severe recession with financing tight and restricted), and the cautious nature of this conservative midwestern developer.
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Old January 11th, 2013, 02:59 AM   #16
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Updates from http://tomabouttown.wordpress.com/20...ifth-progress/







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Old February 16th, 2013, 10:00 PM   #17
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image hosted on flickr

DSCN1497 by spectre 000, on Flickr

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DSCN1499 by spectre 000, on Flickr

image hosted on flickr

DSCN1500 by spectre 000, on Flickr

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DSCN1501 by spectre 000, on Flickr

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DSCN1503 by spectre 000, on Flickr
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Old March 5th, 2013, 06:51 PM   #18
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A new render from Damon Farber Associates.



http://damonfarber.com/projects/hous...et-residences/
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Old March 6th, 2013, 01:31 AM   #19
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Much better than the parking lot. Maybe a bit fat for a residential building but it's not high.
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Old March 6th, 2013, 02:54 AM   #20
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" BEWARE! This building might not like YOU calling it ' fat ' .
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