MIAMI--(BUSINESS WIRE)--Nov 16, 2023--
Today Oak Row Equities, a dynamic vertically-integrated real estate private equity and development company with over $1.6B of development in South Florida, and LNDMRK Development, a principal based real estate company concentrated on mixed use urban development and opportunistic value based acquisitions, revealed final design plans for 2900 Terrace in Edgewater, Miami following approval from the Urban Development Review Board (UDRB). 2900 Terrace, designed by preeminent architecture firm Arquitectonica, will create a new category of luxury rentals that meet demand for high-end living in Miami. The tower is located on one of the last undeveloped parcels East of Biscayne Blvd. in the urban core and has been designed to ensure protected Biscayne Bay views. The sophisticated offering features 324 oversize homes with abundant light, spectacular finishes and beautiful private and shared outdoor spaces. Residents will have access to 24/7 concierge services and every convenience imaginable.
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2900 Terrace, designed by preeminent architecture firm Arquitectonica, will create a new category of luxury rentals that meet demand for high-end living in Miami. (Photo: Business Wire)
Spacious one, two and three-bedroom residences are crafted for design-conscious renters and many will offer large wraparound terraces and home offices. Interior finishes will rival for-sale buildings with calming color schemes and rich materials that evoke a sense of permanence unheard of in multi-family towers. The rentals are intended for families and executives seeking a place to call home in Miami.
Arquitectonica has designed a Japanese-inspired tower that juxtaposes warm bronze-like accents with off white stucco for a tranquil Zen aesthetic. Inventive material use brings a nuanced textured effect to lower portions of the facade. Perforated corrugated metal, reflective glass and charcoal window frames and mullions create visual interest throughout.
“2900 Terrace signals the true sophistication of the Miami market. A multi-family asset of this caliber is a direct response to the maturation of the South Florida market. We are intentionally delivering oversized units with spacious primary bedrooms, large walk in closets, airy great rooms, and most residences will have a study/den.” says Erik Rutter, Managing Partner of Oak Row Equities. “This tower presents an unprecedented option for renters who put a premium space, views, design, and amenities.”
The tower’s massive amenity program will be spread across two levels with wellness as a guiding principle. Indoor amenities include a state-of-the-art fitness center, yoga studio, pet spa, co-working spaces with podcast studios, a content creator studio, card room, resident lounge, treatment rooms, sauna, golf stimulator, theater and children’s playroom.
A south-facing landscaped deck will offer endless opportunities for entertaining and recreation. Outdoor amenities include a statement swimming pool, cold plunge, poolside cabanas and lounge seating, BBQ grills and picnic seating, a hot tub, summer kitchen, two padel courts, children’s playground and coworking terrace.
“2900 Terrace is a world-class offering, and we anticipate demand from around the globe,” said David Weitz, Managing Partner at Oak Row Equities. “We are very proud of the final plans after many months deliberating every design detail and how the tower will be experienced. The building will enrich Edgewater with refined, artful architecture, and we are eager to break ground.”
“This expertly assembled site in Edgewater East enables spectacular protected water and city views that are unparalleled for a multi-family asset,” says Alex Karakhanian, Principle of LNDMRK Development. “It is a true pleasure to collaborate with Oak Row Equities and their team on this exceptional development.”
Located on 1.5 acres, 2900 Terrace will have a carefully considered ground floor experience with sprawling landscaped areas set back more than 10 feet from the street and abundant places for gathering. Residents will arrive via a covered loggia and there will be over 500 parking spots including EV charging stations. 29th Street provides pedestrian access to Wynwood and is one block from a new Whole Foods and Brightline rail station.
Edgewater is a pioneering submarket with unlimited lifestyle amenities such as the lush eight-acre Margaret Pace Park, chic dining and retail options. Wynwood, Midtown and the Design District are moments away. Miami International Airport, I-95, Miami Beach and Brickell are easily accessible from Edgewater.
Pricing for rentals and ground floor retail opportunities are available upon request. Move-ins are anticipated in 2026.
To learn more, visit: www.oakrowequities.com.
About Oak Row Equities:
Oak Row Equities is a vertically integrated real estate private equity and development company. Founded in 2018 by Erik Rutter and David Weitz with offices in New York City and Miami, Oak Row Equities has expertise in acquisitions, development, architecture, construction, asset management, leasing and accounting. Oak Row Equities has more than $1.6B of development since inception. The firm is currently under development on more than four million square feet of Class-AAA real estate, including The Wynwood Plaza, a one-million-square-foot live/work/play campus under construction in Wynwood Norte with delivery slated for 2025.
View source version on businesswire.com:https://www.businesswire.com/news/home/20231115771988/en/
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Victoria Shannon
Co-Founder
August PR
victoria@augustprny.com
KEYWORD: FLORIDA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Oak Row Equities
Copyright Business Wire 2023.
PUB: 11/16/2023 09:00 AM/DISC: 11/16/2023 09:00 AM
http://www.businesswire.com/news/home/20231115771988/en
