Opus Development Corporation will soon begin development and construction of VÉLO, a boutique luxury residential apartment complex in downtown Minneapolis. Sentinel Management Company, a Twin Cities-based real estate investment company, will own the project.
Located in the North Loop Neighborhood at 103 N. 2nd St., VÉLO will offer 101 luxury units with 12,000 square feet of retail space on the first level. VÉLO, French for bicycle, offers close proximity to Minneapolis’ bike path system and is centrally located downtown for bike commuters and outdoor enthusiasts.
“We’re excited to offer a unique living experience for those seeking a luxury and lifestyle-rich rental option in the thriving North Loop neighborhood,” said Tom Lund, vice president real estate development for Opus Development Corporation. “VÉLO will be the ultimate hub for residents seeking a balanced lifestyle in the heart of America’s premier bike city.”
VÉLO will cater to residents with active lifestyles, offering accessible luxury amenities including an outdoor plaza, yoga studio, club lounge, outdoor fire pits and grill kitchen, fitness centers and roof top terrace, complete with resident garden boxes.
The project will break ground in April of 2013 and is slated for completion and occupancy in spring of 2014.
Opus Development Corporation is the developer, Opus Design-Build, L.L.C. will construct the building, and Opus AE Group, Inc. and Elness Swenson Graham Architects, Inc. will collaborate on the design.
This is the second luxury apartment for Opus Development Corporation in downtown Minneapolis. Construction on the 26-story The Nic on Fifth has already begun, and the first residents will be able to move in at the beginning of summer of 2014.