Opus Development Corporation to Build a Luxury Apartment Focusing on Active Lifestyles in Downtown Minneapolis

MINNEAPOLIS, Minn. - ​Opus Development Corporation announced today plans to begin development and construction of VÉLO®, a new 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’ renowned 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, 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.

“We are looking forward to working with Opus on developing this unique and exciting property in the heart of Minneapolis,” said Luigi Bernardi, President, Sentinel Management Company and Aurora Investments, LLC.

The project will break ground in April 2013 and is slated for completion and occupancy in spring 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 commenced and the first residents will be able to move in at the beginning of summer 2014.

About The Opus Group
The Opus Group® is a family of national commercial real estate companies headquartered in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales and leasing. The Opus Group includes Opus Holding, L.L.C. and Opus Holding, Inc. and their operating subsidiaries, Opus Development Corporation, Opus Design Build, L.L.C. and Opus AE Group, Inc. Specializing in office, industrial, retail, residential living, institutional and government projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com.

About Sentinel Management Company and Aurora Investments, LLC
Sentinel Management Company and its sister company Aurora Investments, LLC are Bernardi owned companies operating apartment complexes, shopping centers and medical office buildings throughout the Twin City area for the past 50 years.