PROFILEmiami had the exclusive opportunity to sit down with James Curnin of Clara Homes, a Miami-based, vertically integrated real estate firm, to discuss how he has found success developing and expanding his brand in the Miami market following an accomplished start to his career developing luxury residential properties in Los Angeles. Founded in 2014 by James, Clara Homes offers residential and commercial development, operations oversight and custom homes.

With work spanning South Florida to Los Angeles, the Clara Homes 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 Islands named Clara Bay Harbor which broke ground in March 2023.

Recent completed projects include a single family spec home project, a Modern Farmhouse located at 6341 Allison Road on Allison Island, which sold for $13,875,000, as well as 416 W San Marino Drive which is currently pending for $29 million. Curnin also delivered a project on Sunset Island II and other homes on Miami Beach. Homes currently under construction include properties on La Gorce Circle, Davis Road and Pinetree Dr Circle. PROFILEmiami recently caught up with James following his site approval for the third building as part of his Clara Bay Harbor development to see how he has taken the Miami market by storm:

PROFILEmiami: Tell us about your background, how did you get involved in real estate?

James Curnin: I was always drawn to real estate. My great grandfather had an impressive portfolio of buildings around New York City, and I grew up knowing that one day, I would follow in his footsteps. When I was finally old enough to start working for the family business, I was 14. It was hard work, but it solidified what I already knew to be true: I would grow up to be a real estate developer. My great grandfather’s company gave me my start. I contributed to major tri-state area projects such as Parker Meridien Hotels, Parker Towers and Parker Plaza. After some time, I decided to leave New York City and start my own legacy. In 2014, I founded Clara Homes, starting in Los Angeles. Great weather, a favorable business landscape and the promise of opportunity brought me to Miami. Here in South Florida I’ve grown Clara Homes into a vertically integrated real estate firm offering residential and commercial development, operations oversight and custom homes.

PROFILE: What was your first real estate development project?

JC: A single-family home in the bird streets of Los Angeles.

PROFILE: What is your development philosophy?

JC: Chase every penny, as frequently told to me by my great-grandfather when I was just getting started in the business.

PROFILE: You have built a name for yourself in Miami developing Spec Homes, can you tell us about your past projects? Are you currently working on any?

JC: I got my start in Miami building and selling spec homes, and it’s been an incredible journey. Just as the pandemic was setting in, we were completing four residences throughout the city. It was a time when everyone was in quarantine looking for more space, warm weather and private outdoor access, so we were able to quickly sell the listings and rapidly grow a good reputation for our use of quality materials and thoughtful design. Ever since, buyers have come to recognize our work and trust that we strive for perfection. We collaborate with the best architects in the area to design modern, tropical homes that truly suit the needs of families today, and people have even started coming to us for help to build their own custom homes. Currently, we’re finishing construction on three new spec home projects. I’m excited to report that all of them are now under contract. We will close when the homes complete, which will probably be in the next six months.

PROFILE: As a developer what is your strategy or some of the key items you take into account when developing an ultra-luxury home on spec?

JC: I like to invest in areas with a high barrier to entry, like Miami’s many islands. The land is fleeting and people are always going to want to be on the water, so there’s a much better chance these homes will hold their value over time. I’ve made it a point to hone in on opportunities such as waterfront and extra secluded properties to really maximize my portfolio.

PROFILE: You recently broke ground on Clara Bay Harbor on Miami’s Bay Harbor Islands, can you discuss the process of developing a high-end rental community in a neighborhood that did not have one?

JC: We’re developing Clara Bay Harbor as the premier rental community for Bay Harbor. The project will have three buildings, totaling 150 expansive apartments. The first broke ground in the beginning of this year, and the two following buildings have been approved by the Town of Bay Harbor Islands. We expect to begin construction on them soon.

Getting development rights in Bay Harbor is a challenge because there is a limited number the town has left to give and a ton of interest to go around. The town sold us the last of their TDRs, and now our entire site plan is approved and ready to go vertical.

A luxury rental development project of Clara Bay Harbor’s caliber will help to redefine and reinvigorate the neighborhood, introducing an elevated precedent for luxury in Bay Harbor Islands. With the influx of in-migration to South Florida in the last few years, there is a need for full-service rental offerings in the area that can accommodate young families. Clara Bay Harbor will feature private amenity spaces, concierge services and the level of hospitality where all staff, from the doormen to the pool attendants, know your name, your children’s names and your dog’s name.

PROFILE: As the developer how does the process differ between housing built for sale and housing built to lease?

JC: I approach every project with the same mindset. I want each to be of the highest quality, with the finest materials, blurring the line between apartment and condominium. The rentals I’m developing will have a luxury lifestyle one would expect to see within a resort-style condominium tower. That’s something I think will set Clara Bay Harbor apart from other multifamily offerings throughout Miami.

PROFILE: What is your outlook on the real estate market in Miami amid a changing economic environment and rising interest rates?

JC: Over the past few years, we have seen a rollercoaster of a real estate market, but Miami has sustained tremendous demand that is on an entirely different level from the rest of the nation. Even as interest rates rise, Miami will always be a destination that attracts people. Thousands are relocating to South Florida and many more have plans to purchase real estate. What we’ve seen, though, is that many would-be buyers are turning into luxury renters to wait out high interest rates and other market conditions. These renters are the people who will be attracted to our apartments at Clara Bay Harbor. For this reason, I’m very bullish on the rental market across the Miami area. I find it’s a huge, untapped opportunity, as there are not many professionally managed buildings designed specifically for renters with a high-touch experience in mind.

PROFILE: What was the first gift you brought yourself following a career milestone?

JC: More real estate.

PROFILE: What is your favorite restaurant in Miami?

JC: My favorite restaurant in Miami is either The Surf Club or Makoto.

PROFILE: Describe your perfect Saturday night in Miami?

JC: A perfect Saturday in Miami would be spending quality time with my family, especially with everyone’s busy schedules. Whether going out to dinner by the water or hanging out with friends.

PROFILE: Where do we find you on your day off?

JC: As a real estate developer, I’m afraid I never really have a true “day off” but in my spare time I’m actively involved with the Institute of Contemporary Art and Perez Art Museum in Miami. I hold leadership positions at both museums, so I try to be as hands on as I can with any events, awards, or activations going on. I also try to be outdoors as much as possible whenever I can, so I love going over to the beach and playing tennis or golf on my off days.

Images via Clara Homes