2900 Terrace, a proposed 32-story tower in Edgewater will feature 324 apartments

In Miami's rapidly evolving Edgewater district, a notable real estate development is underway. The venture, led by Oak Row Equities and Lndmrk Development, involves the construction of a significant apartment tower. This project, operating under the name 2900 Terrace, represents a joint initiative between the New York and Miami-based Oak Row Equities and Lndmrk, steered by Miami's Alex Karakhanian.

The location of this ambitious project is a 1.5-acre parcel situated at key addresses including 401 and 421 N.E. 29th St., as well as several plots on N.E. 29th Terrace and N.E. 4th Ave. This site, notable for its proximity to the Biscayne Beach condo along the bay, was acquired in 2022 for a sum of $22.5 million.

The design of the 32-story tower is quite extensive, encompassing an area of 629,829 square feet. It is planned to house 324 apartments, with a variety of configurations ranging from one to three bedrooms, including standard, den-inclusive, and penthouse options. The average apartment size is a spacious 1,069 square feet, a notable feature in Miami's apartment landscape.

Commercial prospects are also a part of this project, with 16,257 square feet dedicated to this purpose. Furthermore, the tower will accommodate a substantial parking facility with 504 spaces, including provisions for 102 electric vehicle charging stations.

A key highlight of the development is its range of amenities, strategically placed on the sixth and seventh floors. These include a swimming pool, a duo of pickleball courts, a fully equipped gym, advanced golf simulators, a children's play area, saunas, and a coworking space.

The architectural design of this tower is the work of Miami-based Arquitectonica, and legal representation for the developers is provided by local attorney Iris Escarra.

Edgewater is experiencing a surge in development, driven by its proximity to downtown Miami, Miami Beach, and the Wynwood area, coupled with the scenic views of Biscayne Bay. However, the neighborhood faces challenges, particularly with street flooding issues. This development is part of a broader transformation in the area, reflecting the growing demand for residential and commercial spaces in Miami's urban core.

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