Edgewater's 2900 Terrace Reaches Structural Topping Out Early

Accelerated Construction in Edgewater

The reinforced concrete superstructure at 2900 Terrace reached its topped-out milestone nearly three months ahead of the project's baseline schedule, according to Florida YIMBY. The 32-story residential tower, located at 401 NE 29th Street in Edgewater, is currently under construction by Coastal Construction.

Construction progress was marked by a concrete operation that averaged a production rate of 1.5 floors per week. The project, which sits on a site of approximately 1.5 acres bounded by NE 29th Terrace, NE 4th Avenue, and NE 29th Street, is being developed by Oak Row Equities and LNDMRK Development with designs by Arquitectonica.

Project Scope and Financing

The development is planned to include 324 rental units and 15,536 square feet of ground-floor retail space. The structure is designed to provide parking for 504 vehicles.

To fund the project, Oak Row Equities and LNDMRK Development secured $211 million in construction financing in 2025. This funding package includes a $142.5 million senior loan from Bank OZK and $68 million in mezzanine financing from Canyon Partners Real Estate. The project is expected to reach completion in the fourth quarter of 2027.

Local Market Context

For those looking at the Edgewater market, the addition of new inventory and retail space continues to shape the neighborhood. Current data shows 328 active condo listings in Edgewater with a median asking price of $932,500 ($854/sq ft).

Nearby options for buyers include Bay House with a median asking price of $679/sq ft, and Icon Bay with a median asking price of $708/sq ft. Other nearby options include Onyx On The Bay at $630/sq ft, The Crimson at $628/sq ft, and 601 NE 23rd St at $468/sq ft. Aria Reserve offers a different price point with a median asking price of $1,293/sq ft.