Developer Lands $26 Million Loan To Begin Construction On Phase 1 Of Residential Project In Bay Harbor Islands
Clara Homes, a Miami-based real estate firm specializing in residential and commercial development, custom single-family homes, and operations oversight, has announced closing a $26 million construction loan financed by Maxim Capital for Clara Bay Harbor. This three-building residential development, designed by S & E Architects, Inc. with Langan Engineering & Environmental Services as the civil engineer, will feature 150 residences and amenities. Clara Bay Harbor’s first building is slated to break ground this March, with completion anticipated for Spring/Summer 2024, and the entire master plan is expected to be completed by the end of 2025.