Oak Row Equities Wins Unanimous Approval from Urban Development Review Board for First & Fifth, a Luxury Multifamily Tower Designed by ODP Architects

The Design Pays Homage to Early-Nineteenth Century Miami

Oak Row Equities, a leading private equity and real estate development firm with a $2.0 billion portfolio spanning over four million square feet in South Florida, has announced that the Urban Development Review Board (UDRB) has unanimously granted approval for the design of First & Fifth, a brand new luxury multifamily tower designed by ODP Architects. Located at 49 NW 5th Street in Downtown Miami, First & Fifth will rise across from MiamiCentral Station – the hub of all four major train systems in South Florida. The location for First & Fifth features a rare perfect transit score of 100. The spectacular tower will pay homage to Miami’s turn-of-the-century Venetian architecture while offering an extensive package of modern amenities for renters.

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Miami's Urban Development Review Board (UDRB) has unanimously granted approval for the design of First & Fifth, a brand new luxury multifamily tower developed by Oak Row Equities. (Photo: Business Wire)

"First & Fifth truly embodies the commitment that Oak Row Equities has for Miami's future. By expertly navigating the complexities of historic preservation and zoning, we're creating a modern, enduring asset that respects the city's rich past,” says Eileen Orta, Managing Director/Head of Development at Oak Row Equities. “The collaboration with City staff has been invaluable in ensuring our design aligns with the vision of the future of Miami. We’re grateful to have such a productive partnership with City officials and look forward to our continued collaboration as we rapidly grow our portfolio of Class AAA assets across the City of Miami."

First & Fifth is over 700,000 gross square foot development with over 500 luxurious multifamily units featuring top-of-the-line finishes, stunning views, a robust amenity package, and unparalleled transit access. The new structure features statement-making arches that embrace history and seamlessly blend with the project's historical portion, drawing inspiration from the Doge Palace in Venice. ODP Architecture and Design created bright, airy spaces throughout the building, offering a multitude of uses and open views of the city.

First & Fifth is located catty-corner from the entrance to MiamiCentral Station – the cornerstone of Brightline's $5 billion investment in Florida. MiamiCentral is the connecting point for the Brightline, Metrorail, Tri-Rail, and the Metromover. The site is squarely within Downtown's growth path – steps from MiamiCentral's new office buildings, Miami Dade College’s Wolfson Campus, the federal courthouse, Miami Worldcenter’s restaurant and retail amenities, and the Miami Heat's arena.

Transit-oriented developments are critical to ORE's long-term thesis, evident across its active portfolio. The Oasis, The Wynwood Plaza, 2600 Biscayne Boulevard, and 2900 Terrace are all located less than a 5-minute walk from a planned Northeast Corridor rail station, providing connectivity locally throughout Miami and regionally to Fort Lauderdale, Boca, West Palm Beach, and Orlando via the Brightline.

To learn more and inquire about leasing and deal opportunities, visit www.oakrowequities.com.

About Oak Row Equities

Oak Row Equities is a vertically integrated private equity and real estate development company. Founded in 2018 by Erik Rutter and David Weitz with offices in New York City and Miami, Oak Row Equities has expertise in acquisitions, development, architecture, construction, asset management, leasing, and accounting. Oak Row Equities has more than $1.6B of development underway across four million square feet of Class-AAA real estate. For more information, visit www.oakrowequities.com.

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