Oak Row Equities and LNDMRK Development have topped off 2900 Terrace, a 32-story luxury rental tower rising at 401 NE 29th Street in Edgewater, marking a new milestone for one of Miami’s most closely watched multifamily projects. The update was first reported by PROFILEmiami.
The project is designed as a high-end rental building rather than a condominium, with 324 residences planned and a targeted delivery in the fourth quarter of 2027. The topping-off comes less than a year after the developers secured financing and began construction, underscoring the pace of development in Edgewater as the neighborhood continues to attract large-scale residential towers.
Located east of Biscayne Boulevard and one block from Biscayne Bay, 2900 Terrace is intended to combine waterfront access, oversized layouts and a broad amenity package in a market where many newer rental projects skew toward smaller unit sizes. The building is part of a larger Edgewater pipeline that has transformed the area into one of Miami’s most active construction corridors.
| Project Detail | Information |
|---|---|
| Project Name | 2900 Terrace |
| Location | 401 NE 29th Street, Edgewater, Miami |
| Developers | Oak Row Equities and LNDMRK Development |
| Building Height | 32 stories |
| Residential Units | 324 rental residences |
| Architect | Arquitectonica |
| Interiors | Vida Design |
| Construction | Coastal Construction |
| Expected Delivery | Q4 2027 |
What topped out at 2900 Terrace
Topping out refers to the point at which a tower reaches its highest structural level. At 2900 Terrace, that means the project has moved past the vertical shell stage and is now progressing toward interior build-out and finishing work. The milestone is significant because it signals that the tower is advancing on schedule toward its planned completion.
Oak Row Equities described the building as a differentiated rental product for Miami, with a focus on larger-than-average residences, indoor-outdoor living and a design standard that aims to resemble condominium quality. In a statement reported by PROFILEmiami, co-founder and managing partner Erik Rutter said the project was intended to reflect how people want to live in Miami today, with spacious homes, amenity-rich living and proximity to the city’s core.
LNDMRK Development principal Alex Karakhanian said the project reflects Edgewater’s evolution into a more established residential neighborhood, citing the combination of larger floor plans, outdoor space and work-from-home-oriented amenities.
Why 2900 Terrace stands out in Edgewater
Edgewater has become one of Miami’s most active multifamily development zones, with high-rise projects filling in formerly underbuilt parcels between Biscayne Bay and Biscayne Boulevard. 2900 Terrace is notable because it is being positioned as a luxury rental tower with apartment layouts that are larger than those commonly found in many recent urban developments.
The building is also part of a broader strategy by Oak Row Equities in the area. The firm is separately advancing 2600 Biscayne, a 41-story mixed-use tower that will include 399 luxury rental units along with office and retail space, further adding to the firm’s footprint in Edgewater.
For renters, that concentration of new product may give the neighborhood more depth as a residential destination, especially for households seeking newer buildings with larger interiors, bay access and proximity to Miami’s employment centers. For the market, it reflects continued demand for professionally managed rental housing in central neighborhoods where condo and rental development have increasingly overlapped.
Building design, residences and amenities
2900 Terrace was designed by Arquitectonica, with interiors by Vida Design and construction led by Coastal Construction. The developers say the tower will offer one-, two- and three-bedroom residences averaging 1,069 square feet, with select layouts including dens and enclosed studios.
According to the project description, the homes are being planned with wide living rooms, balconies that extend across the length of the residence and floor-to-ceiling windows in select bedrooms. The building is also expected to include pantry storage in some floor plans, along with upgraded appliances and finishes positioned above the typical rental standard.
The amenity program is built around wellness, social space and work flexibility. Planned features include a fitness center, spa, yoga area and hammam, as well as a pool deck, lounge space and padel courts. The building is also expected to offer coworking and meeting areas, a cinema, private dining room, clubroom and dedicated spaces for families and content creators.
Location and neighborhood access
Set just east of Biscayne Boulevard and near Biscayne Bay, 2900 Terrace places residents close to the Baywalk, the public waterfront promenade running along the bay in Edgewater. The location also offers access to major roadways, including Biscayne Boulevard and I-95, which connect to the Design District, Wynwood, Brickell, Downtown Miami and Miami Beach.
That positioning is important in a submarket where walkability, water views and access to central business districts continue to drive demand. Edgewater’s appeal has grown as nearby districts have redeveloped, and 2900 Terrace is one of several projects helping reshape the neighborhood’s residential profile.
Developer background and project timeline
Oak Row Equities, led by Erik Rutter and David Weitz, has described itself as a vertically integrated real estate private equity and development company with more than $3.9 billion in development across South Florida. LNDMRK Development, led by Alex Karakhanian, focuses on mixed-use urban development and opportunistic value-based acquisitions.
The 2900 Terrace project was first unveiled in 2023, then moved forward in 2025 after the developers secured $210.5 million in financing and broke ground, according to prior reporting by PROFILEmiami. The latest construction milestone indicates that the tower is moving through the critical middle phase of development, with completion still several quarters away.
For Edgewater, the project adds another large residential building to a corridor that continues to absorb new density near the bay. For the developers, topping out brings the project visibly closer to delivery and shifts attention toward leasing preparations ahead of the planned late-2027 completion.
What happens next
With the structure now topped out, work at 2900 Terrace will shift more heavily toward interior construction, amenity build-out and exterior finishing. The tower is currently expected to deliver in the fourth quarter of 2027, though construction timelines for large Miami developments can change as projects move through fit-out and inspection phases.
Additional project information, including leasing details and final offering plans, has not been publicly disclosed. For now, the topping out places 2900 Terrace among the growing number of Edgewater towers advancing from excavation and structural work into the final stages of delivery.
Frequently asked questions
Where is 2900 Terrace located?
The tower is located at 401 NE 29th Street in Miami’s Edgewater neighborhood, east of Biscayne Boulevard and one block from Biscayne Bay.
Who is developing 2900 Terrace?
The project is being developed by Oak Row Equities and LNDMRK Development.
How many units are planned?
2900 Terrace is planned to include 324 luxury rental residences.
Who designed the building?
Arquitectonica designed the tower, with interiors by Vida Design and construction by Coastal Construction.
When is the project expected to be completed?
The developers are targeting delivery in the fourth quarter of 2027.
