Opus to Build New Office Building for Xcel Energy at Nicollet Mall
- Jun 25, 2012
By Gabriel Circiog, Associate Editor
The Opus Development Corporation has announced plans to build a 212,000-square-foot office building in downtown Minneapolis. The nine-story building will be built for Xcel Energy on the southeast corner of Fourth Street and the Nicollet Mall. The site is currently a private parking ramp which was built in the 1960s.
The new construction will be fully leased to the utility company which plans to consolidate its corporate headquarters in the downtown Minneapolis campus. Currently Xcel Energy has 1,500 employees in downtown Minneapolis, out of which 750 at 414 Nicollet, immediately across the street from the new building site.
Construction on the new building is scheduled to break ground in 2014, pending all necessary approvals. The announcement confirms the commitment of Xcel Energy to remain in Minneapolis for the long-term. Minneapolis Mayor R.T. Rybak believes the recent investments in transit and other amenities, which have been made in downtown Minneapolis, are paying off and are helping not only attract employers but also retain skilled workforce. He also said: “I thank Xcel Energy for their vote of confidence in downtown, congratulate Opus on the opportunity to redevelop this important site, and look forward to even more vitality in downtown Minneapolis.”
The new Xcel Energy office building will be adjacent to another project undertaken by Opus. The Nicollet Residences, a 33-story apartment complex which will feature 333 high-end rental units, is scheduled to break ground later this year.
Opus Design Build will be responsible for the construction of the Xcel Energy office building, Opus AE Group will be the architect of record and an affiliate of the Opus Group will own the building.
Rendering Courtesy of: www.opus-group.com
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