Discover the Future of Luxury Living in Wynwood with Clara Homes

Miami's vibrant Wynwood neighborhood is about to welcome an exciting addition to its skyline, and it's set to redefine the concept of luxury rental living. Clara Homes, the renowned real estate development firm founded by James Curnin, has just secured a $7.7 million residential development site at 2601 NW 6th Avenue, spanning an impressive 17,000 square feet. This prime location in Wynwood will soon transform into a 154-residence luxury rental building, designed by the renowned architect Kobi Karp.

What sets this development apart is its commitment to providing affordable workforce housing. Clara Homes is embracing the Live Local Act by allocating at least 40% of the residences for affordable housing, ensuring that a diverse range of residents can enjoy the Wynwood lifestyle. Rising to approximately 200 feet, this luxury rental building promises to offer an unparalleled living experience.

The acquisition of this prime Wynwood site at $450 per square foot is a game-changer. It represents a remarkable 40% discount compared to other Wynwood land sales, which typically command prices ranging from $750 to $1,000 per square foot. This strategic purchase was made as a cap rate play, with attractive below-market seller financing at 5% and a sale leaseback agreement for at least a year to a year and a half.

James Curnin, the CEO and Founder of Clara Homes, is excited about the venture. He stated, "Wynwood is one of the hottest Miami markets to invest in and only continues to increase in value as new cultural, dining, and art institutions open in the neighborhood. When presented with the rare opportunity to acquire the land at such an attractive rate, we jumped at the chance to create a new rental experience in this rapidly growing part of town."

While the project is still in the planning stages, the luxury rental building is poised to offer a comprehensive suite of premium amenities and sophisticated touches. Residents can look forward to 24-hour doormen, valet service, dedicated ground floor retail spaces, and a unique feature that's bound to make waves – Miami's first rooftop padel court, catering to the city's growing interest in this global racquet sport sensation. Construction is expected to commence within the next 12-15 months and will take approximately 18 months to complete.

But that's not all. Clara Homes is also making waves in South Florida with its first multifamily development, Clara Bay Harbor. Following the firm's success in developing, building, and selling numerous luxury spec homes at above-market rates, Clara Bay Harbor is set to be a remarkable addition to South Florida's real estate landscape. The development will be completed in three phases, with construction already underway for the first building located at 10281 West Bay Harbor Drive.

The future of luxury living in Wynwood is bright, and Clara Homes is at the forefront of this exciting transformation. Stay tuned for updates on this remarkable project and Clara Homes' continued dedication to redefining real estate development in South Florida.