Last year was a good one for Minnetonka, Minn.-based The Opus Group. The company completed more than 100 transactions in 2012. And 2013 has been off to a good start, too.
Much of Opus’ recent work is taking place in Minnesota. Earlier this year, for instance, Opus signed a lease that officially closed leasing at the company’s Station on Washington mixed-use living and retail complex near the University of Minnesota’s East Bak campus. Last year, the company announced that it would develop VELO, a boutique luxury residential apartment complex in downtown Minneapolis.
Then there’s the Nic on Fifth, a luxury high-rise apartment also for downtown Minneapolis. Financing for that development closed in late November.
Much of Opus’ work, though, has also taken place in other parts of the country. One of the company’s growing markets? Kansas City.
Opus Design Build, for instance, is serving as the design-build contractor building the luxury apartment complex 51 Main in Kansas City. This six-story project will offer 176 apartment units featuring high-end amenities and 10,000 square feet of retail space on the ground level. Responding to low vacancy rates in the Kansas City market, this apartment building will be located near the trendy South Plaza Neighborhood.
The building will feature covered onsite parking, a club house and an outdoor amenity courtyard complete with a pool, grilling area and cabana.
Construction began in January of 2013 and the first residents are slated to take occupancy in early fall 2014.
“This is an exciting project for individuals interested in desirable rental living options in Kansas City and we’re thrilled to have been selected by VanTrust Real Estate as the construction partner,” said Oscar Healy, vice president of construction at Opus Design Build, in a written statement. “We will leverage Opus’ design-build delivery method and residential living expertise to ensure timeline and cost efficiencies.”
Opus is also developing what is known as Building M in the Park Place mixed-use development in Leawood, Kansas, a city located in the Kansas City market. This building will serve as the corporate office headquarters for AMC Theaters.
Building M will rise four stories and include 136,000 square feet. This project is scheduled for completion in May of this year.
Opus Design Build last year was also awarded a contract by Freightquote.com to design and build the company’s new 200,000-square-foot headquarters in Kansas City. Freightquote is the country’s largest online shipping broker.
— Dan Rafter