MIAMI, FL – Clara Homes, a Miami-based vertically integrated real estate firm specializing in residential and commercial development, custom single-family homes and operations oversight – today announced the closing of a $26 million construction loan financed by Maxim Capital for Clara Bay Harbor. This three-building development, Miami’s most anticipated new ground-up luxury rental community, will feature 150 total residences with five-star service and a suite of thoughtful amenities. Clara Bay Harbor’s first building is slated to break ground this March, with completion anticipated for Spring/Summer 2024. The entire master plan is expected to complete by the end of 2025.
“We are committed to bringing buildings to market that elevate luxury rental living across South Florida,” says James Curnin, CEO and Founder of Clara Homes. “This construction loan reaffirms the vision and confidence we have in Clara Bay Harbor. The project will offer renters high quality residences, designed with the same sophistication and style as our custom homes.”
Nestled between the world-famous Bal Harbour Shops and Miami’s exclusive Indian Creek, Clara Bay Harbor will offer an enviable lifestyle and location in the heart of Bay Harbor. Situated just minutes from the Atlantic Ocean as well as the best shopping and dining in the city, Bay Harbor is one of the most desirable residential areas in Miami, celebrated for its small-town feel and focus on community. The waterfront neighborhood is now transforming into an exclusive luxury destination with the development of new high-profile projects such as Clara Bay Harbor. The three buildings of Clara Bay Harbor will set a new standard for rental living across South Florida.
“Clara Homes is an experienced South Florida builder and a longtime Maxim client,” said Adam Glick, principal and cofounder of Maxim Capital Group. “We’re looking forward to completing a luxury rental building in one of the fastest growing markets in the country with one of the best residential developers in the Miami area.”
Construction for Clara Bay Harbor will be completed in three phases. The first phase introduces the first of three six-story buildings. Located at 10281 W. Bay Harbor Drive, the first building will tout 28 luxury two-to-five bedroom rental residences, a parking garage, and an amenitized rooftop space encompassing a swimming pool, exercise area, and sundeck. The other two buildings located at 1147-1163 100th Street and 10200 East Bay Harbor Drive are scheduled to break ground later this year.
Clara Bay Harbor is Clara Homes’s first South Florida multifamily development, following the firm’s success developing, building and selling numerous Miami and Los Angeles luxury spec homes for above market rate prices. Curnin got his start in the industry working under the late legendary developer Jack Parker, his great-grandfather, in New York City on high-profile projects such as Parker Meridian Hotels, Parker Towers, Parker Plaza and Truffles Tribeca.
Leasing for Clara Bay Harbor will be exclusively handled by Douglas Elliman Development Marketing. For more information on Clara Bay Harbor, please visit www.clarahomes.co
ABOUT CLARA HOMES: Founded in 2014 by James Curnin, Clara Homes is a Miami-based, vertically integrated real estate firm offering residential and commercial development, operations oversight and custom homes. With work spanning South Florida to Los Angeles, the company has collaborated with some of the industry’s most innovative architecture firms, including Vertoch Design Architects, McClean Design and Strang Design, to differentiate its portfolio from others in the market. Currently in the pipeline are three waterfront spec homes, three privately owned custom homes, as well as a 150-unit, three-building rental development in Bay Harbor called Clara Bay Harbor.
About Douglas Elliman Development Marketing (DEDM): Douglas Elliman Development Marketing, a division of Douglas Elliman Realty, offers unmatched expertise in sales, leasing, and marketing for new developments throughout New York City, Long Island, Westchester, New Jersey, Florida, California, Massachusetts, and Texas. The company’s new development hybrid platform matches highly experienced new development experts with skilled brokerage professionals who provide unparalleled expertise and real time market intelligence to its clients. The firm is heralded for its achievements in record breaking sales throughout each of its regions. Drawing upon decades of experience and market-specific knowledge, Douglas Elliman Development Marketing offers a multidisciplinary approach that includes comprehensive in-house research, planning and design, marketing, and sales. Through a strategic global alliance with Knight Frank Residential, the world’s largest privately-owned property consultancy, the company markets properties to audiences in 51 countries, representing an over $87 billion global new development portfolio. www.elliman.com/marketing