Oak Row Equities and LNDMRK Break Ground on $210M+ 2900 Terrace in Edgewater

Key Points

• $210.5M financing secured from Bank OZK ($142.5M) and Canyon Partners ($68M)

• 32-story, 324-unit luxury tower to deliver condo-quality rentals in Edgewater

• Completion expected Q4 2027, expanding Oak Row’s $3.9B South Florida portfolio

Oak Row Equities and LNDMRK Development have officially broken ground on 2900 Terrace, a high-end multifamily tower set to reshape Miami’s Edgewater skyline. Backed by a $210.5 million construction loan, this project adds to Oak Row’s growing list of major developments across South Florida.

Financing and Development Partners

• Bank OZK led the senior financing with $142.5M, while Canyon Partners Real Estate provided a $68M mezzanine loan.

• The groundbreaking reinforces Oak Row Equities’ momentum, with more than $3.9 billion in active projects throughout South Florida.

• Oak Row Managing Partners Erik Rutter and David Weitz said the project will “fill a true market gap for oversized, condo-quality rentals.”

Project Overview: 2900 Terrace

• Location: 401 NE 29th St, Miami’s Edgewater

• Architect: Arquitectonica

• Height: 32 stories

• Units: 324 one-, two-, and three-bedroom apartments

• Completion: Q4 2027

• Parking: 500+ spaces with EV chargers

Arquitectonica’s sleek design blends bronze-like accents, reflective glass, and textured podiums, creating a modern aesthetic on one of Edgewater’s last undeveloped parcels east of Biscayne Boulevard.

Amenities Designed for the Next-Gen Tenant

The two-level amenity package focuses on wellness and work-life balance, featuring:

• Fitness center, yoga studio, treatment rooms, sauna, and golf simulator

• Co-working areas with podcast and content creator studios

• Resort-style pool deck with padel courts, cabanas, and BBQ areas

• Family-friendly spaces including a children’s playroom and playground

Why Edgewater Keeps Winning

• Walkable access to Margaret Pace Park, Whole Foods, and future Brightline station

• Minutes from Wynwood, Midtown, and the Design District

• Rising demand from tenants seeking proximity to Miami’s urban core

Oak Row’s Bigger South Florida Play

Oak Row is also behind Wynwood Plaza, home to Amazon’s South Florida HQ, and is under contract for a $520M Brickell waterfront acquisition, one of the region’s largest planned land deals.

With tenants like Spotify, Equinox, and Coastal Construction, Oak Row continues to expand its footprint in South Florida’s fastest-growing submarkets.

A Strong Rental Market

2900 Terrace underscores the strength of Miami’s luxury rental market, combining institutional financing with design-forward execution. For landlords and brokers, Edgewater’s ongoing transformation signals sustained tenant demand and long-term value across high-end multifamily assets.