One of the final remaining industrial gaps in the heart of the North Loop neighborhood in Minneapolis is about to be filled with a striking white brick apartment building.
This week, the Opus Group and Greco started construction on a six-story building, which will have 144 apartments atop 14,000 square feet of ground-level retail space.
The half-block site is at the corner of Fourth Street North and Sixth Avenue. It was home to ABC Electronics, a one-story warehouse building constructed in 1944 in the once-industrial area that's now dominated by low-rise apartments and loft-style condo buildings, including Bookman Stacks and the 710 Lofts.
The project is not the first collaboration for the two longtime Twin Cities real estate companies, which teamed up on the Seven Corners Gateway site in St. Paul.
"This first-class mixed-use project is a great addition to one of the most popular neighborhoods in the country," Nick Murnane, senior manager of Opus Development, said in a statement. "Together, our Opus and Greco team identified an unmet demand for additional quality housing in the vibrant North Loop neighborhood and we're excited to be working together to bring this development to life."
Josh Brandsted, president, Greco Properties, said the project will have some design features that are relatively unique to that area, including a second-level amenity deck with an outdoor pool and bar, grilling areas and a wood-burning fireplace. More standard amenities include a concierge, fitness center, dog wash and bike storage. A second rooftop outdoor space will be on the sixth floor, which will also have a grilling area, bar, fire pit, pool and panoramic views of downtown Minneapolis.
It's expected to be completed late summer 2017. Minneapolis-based ESG Architects will be the design architect and interiors partner. TCF Bank is the lender.