Clara Bay Harbor luxury development closes on $26 Million Construction Loan

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Clara Bay Harbor luxury development is to break ground now that Clara Homes the developer has secured a loan of $26 million has been secured from Maxim Capital.

The Clara Bay Harbor will be a  three-building development featuring 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.

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.

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Clara Bay Harbour 3 phases

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.