RiZE at Opus Park, a 322 unit Class-A apartment community located in Minnetonka, MN, represents a $73mm investment towards the transformation and redevelopment of the Opus Business Park off HWY-169.
The community will consist of generous studio, one bedroom, one bedroom with den, two bedroom and two bedroom with den units averaging 944 square feet. The spacious, open floor plans are designed with high quality finishes including designer kitchens with granite countertops, Energy Star appliances, nine-foot ceilings, and wood-style plank flooring, complete with large walk-in bedroom closets. Additionally, all residences enjoy a large balcony or patio, with select units containing multiple balconies for panoramic views. Plans call for the construction of a single, six-story, wood-frame building built over a concrete podium with an integrated 492-space parking garage. Amenities will include an elaborate clubhouse containing a fitness center complete with a Yoga/CrossFit studio, a club room, a private movie theater, fire pit and lounge areas, an outdoor summer kitchen and two courtyards complete with lush landscaping and an expansive resort-style pool with cabanas.
The unique location offers future residents access to over 21,000 jobs within a 5-minute drive and over 180,000 jobs within a 10-minute drive. The Southwest LRT Management Committee also recently approved an extension of the METRO Green Line to extend to Minnetonka with a station situated just ½ mile away from RiZE at Opus Park providing quick and easy access into the urban cores of both Minneapolis and St. Paul. The Opus Park trail system, which runs next to the site of RiZE at Opus Park, also contains over six miles of paved trails connecting Green Circle Park, hotels, commercial space, and office buildings providing residents with recreation and leisure only steps away.
RiZE at Opus Park is a joint venture between LeCesse Development, Morgan Management and UC Funds representing the third deal between the trio and the first joint project in the Twin Cities. UC Funds is a specialty commercial real estate finance firm providing over $2 billion in capital solutions to date. Financing was provided locally by US Bank, adding another project to the strong partnership following the completion of the two phase Skye at Arbor Lakes community in Maple Grove. The architect is Humphreys & Partners Architects and general contractor is Stonebridge Construction. Loucks Engineering is the civil engineering firm on the project and Terracon is the environmental consultant.
Residences will become available for lease beginning in the winter of 2018.