Miami’s Bay Harbor neighborhood continues to transform as developers flock to the neighborhood to build luxury developments. In the latest move, a Miami-based developer secured a $26 million construction loan for a luxury community, a three-building development. Each building will have six stories.
Clara Bay Harbor, developed by Clara Homes, is the company’s first South Florida multifamily development and will feature 150 total residences, which will be completed in three phases. Maxim Capital Group, which is headquartered in New York, financed the loan for the development.
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