Photo via @clarahomes
Miami's luxury condominium market has been revolutionized over the past few years as developments have gotten increasingly more expensive and more over-the-top to capitalize on affluent clients and companies moving to South Florida. Clara Bay Harbor is the first new rental development that aims to do the same, and it's breaking ground in one of the most active hotbeds for luxury development in Miami, Bay Harbor. The developer will soon be showcasing how this three-building luxury rental community will bring New York-style service and amenities to South Florida's rental market for the first time.
Photo via @clarahomes
The developer, James Curnin, the CEO and founder, is not only leading this project's development, but he has also built and sold many record-breaking spec homes across Miami since the pandemic. This spec home success has given James a keen understanding of what luxury buyers want, from spacious floor plans to a walkable location, and he's applying this knowledge to Clara Bay Harbor for a truly elevated lifestyle. He'll introduce the same level of quality and finish that one would expect from these multimillion-dollar spec homes to all 150 apartments.
Photo via @clarahomes
James is bullish on Miami's multifamily market and believes that this new category of rental living will quickly appeal to Florida's growing renter-by-choice demographic.
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 to differentiate its portfolio from others in the market.
Photo via @clarahomes
In 2020, Clara Homes gained industry recognition for its spec homes. The company sold three spec homes in Miami at above-market prices for a total of over $50 million dollars just a few months after listing them. Following this success, Clara Homes broke ground on four additional waterfront homes, with an expected portfolio value of over $175 million dollars. Clara Homes currently has three waterfront spec homes and three privately owned custom homes under development.
Recently, Clara Homes has also expanded into Miami’s luxury multifamily market. The company received approval in April 2022 for a 150-unit, three-building rental development in Bay Harbor called Clara Bay Harbor. The project will offer the only new professionally managed, New York-style apartment buildings in Miami Beach. The first phase is expected to complete in 2023.