Florida Construction News staff writer
Coastal Construction has topped out a 32-storey residential tower in Miami’s Edgewater neighbourhood, marking a major milestone for the 2900 Terrace development.
The 362-foot tower at 401 NE 29th St. is being developed by Oak Row Equities and LNDMRK Development and designed by Arquitectonica. Coastal Construction is serving as general contractor.
The project is planned to include 324 rental units, 15,536 square feet of ground-floor retail space and parking for 504 vehicles.
The topping-out milestone was announced by project manager John Ellerman following placement of the final section of the roof slab. Ellerman said the reinforced-concrete superstructure reached the milestone nearly three months ahead of the project’s baseline schedule.
The concrete operation maintained an average production rate of 1.5 floors per week, or about six floors per month, without relying on typical extended working hours, according to Ellerman.
He credited L&R Structural, the mechanical, electrical and plumbing trades working on the decks, and structural engineer Adrian De Los Reyes, P.E., with helping maintain the construction pace.The 1.5-acre site is bounded by NE 29th Terrace to the north, NE 4th Avenue to the west and NE 29th Street to the south. It is located one block east of Biscayne Boulevard in Edgewater, an area that has seen significant residential development along and inland from Biscayne Bay.
Oak Row Equities and LNDMRK Development secured $210.5 million in construction financing for the project in 2025. The financing included a $142.5 million senior construction loan from Bank OZK and $68 million in mezzanine financing from Canyon Partners Real Estate.
With the concrete structure now topped out, construction will continue on the building’s exterior, interiors and building systems.
2900 Terrace is expected to be completed in the fourth quarter of 2027.
