2900 Terrace Tops Out in Edgewater Nearly Three Months Early With 324 Rentals

The 32-story rental tower beat its own construction schedule. Combined with a second Edgewater project, close to 900 rental units are on the way.

Florida YIMBY reported on August 31, 2026 that 2900 Terrace topped out in Edgewater. The tower rises 362 feet across 32 stories and will hold 324 rental units at 401 NE 29th Street. Per Florida YIMBY, “The reinforced concrete superstructure reached the milestone nearly three months ahead of the project's baseline schedule.” PROFILEmiami reported the same top-off on September 9, 2026.

What got built, and how fast

• 1.5 floors a week. Florida YIMBY reports the concrete operation held an average production rate of 1.5 floors per week, roughly six floors a month.
• 15,536 square feet of ground-floor retail. Plus parking for 504 vehicles.
• $210.5 million in financing. A $142.5 million senior construction loan from Bank OZK and $68 million of mezzanine financing from Canyon Partners Real Estate.
• Completion in Q4 2027. Oak Row Equities and LNDMRK Development are the sponsors, with Arquitectonica as architect and Coastal Construction as general contractor.

The Edgewater supply picture

This is not the only tower coming. Bisnow reported on July 6, 2026 that LCOR landed a $192 million construction loan from Natixis Corporate and Investment Banking for a 544-unit tower at 1775 Biscayne Blvd, also in Edgewater. Between those two projects alone, close to 900 rental units are in the pipeline. One discrepancy worth flagging: the Bisnow article's own URL says $193 million while the body text says $192 million. I am using the body-text figure.

My read

If you own a rental in Edgewater, Midtown or Wynwood, plan for concession pressure into 2027 and 2028. Two towers this size do not deliver into a market without moving asking rents and free-month offers. Neither article states asking rents, unit mix or unit sizes at 2900 Terrace, so I cannot tell you where it will price. What I can tell you is that a building finishing early is a building that wants to start leasing sooner, and early lease-ups are exactly where concessions show up first. If your lease renews in 2027, you have negotiating room you did not have in 2022. If you are the landlord, get ahead of it rather than discovering it at renewal.