Oak Row Equities Wins Unanimous Approval from Historic & Environmental Preservation Board for First & Fifth

ODP-Designed Multifamily Tower to Move Forward with Original Design

MIAMI--(BUSINESS WIRE)--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, today announced that the Historic & Environmental Preservation Board (HEPB) has unanimously granted approval of First & Fifth, a brand new luxury multifamily tower designed by ODP Architects. HEPB approved the spectacular original design as is.

"First & Fifth was designed to pay homage to Miami’s turn-of-the-century Venetian architecture while offering an extensive package of modern amenities for renters and we’re thrilled that the Historic & Environmental Preservation Board supports our vision," says Eileen Orta, Managing Director/Head of Development at Oak Row Equities. “The project is a modern interpretation of historic Miami design and we’re eager to bring it to completion."

First & Fifth will span over 700,000 gross square feet and feature over 500 luxurious multifamily units with top-of-the-line finishes, stunning views, a robust amenity package, and unparalleled transit access. The new structure features statement-making arches echoing the grandeur of Venice's Doge Palace. ODP Architecture and Design has crafted spacious interiors, for various purposes and provides expansive city views.

The location, 49 NW 5th Street in Downtown Miami, features a rare perfect transit score of 100. The site is 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.

First & Fifth 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.