Oak Row Equities, a private equity and real estate development company, has announced that the Urban Development Review Board (UDRB) has unanimously approved the design of First & Fifth, a luxury multifamily tower in Downtown Miami, US.
The project, designed by ODP Architects, is set to offer modern living spaces.
First & Fifth, located at 49 NW 5th Street, will be an addition to the South Florida real estate landscape, spanning over a gross area of 700,000ft² with more than 500 luxury units.
The project’s design pays tribute to the historic Venetian style while incorporating contemporary amenities and finishes. The tower boasts a transit score of 100, being situated directly across from MiamiCentral Station, a central hub for multiple train systems.
The company claims the new development is poised to offer residents ‘stunning’ city views and an extensive amenity package.
ODP Architecture and Design, an American interior design company, has crafted ‘bright’ open interior spaces for versatile usage.
Strategically placed in the heart of Downtown Miami, First & Fifth is in proximity MiamiCentral’s new office buildings, Miami Dade College’s Wolfson Campus, the federal courthouse, Miami Worldcenter’s dining and shopping facilities, and the Miami Heat’s arena.
The tower’s location positions it as a focal point in the $5bn investment by Brightline in Florida’s transportation infrastructure.
Oak Row Equities managing director and development head Eileen Orta said: “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.
“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.”
