Meet The Disruptors: James Curnin Of Clara Homes On The Five Things You Need To Shake Up Your Industry

Don’t tell yourself no. One of the worst things you can do for yourself as an innovator is shoot yourself down in a world where so many other people are already going to tell you no. If you lack the confidence in yourself and the project, it will be harder for other people to get on board with it too. By always framing your work and accomplishments in the most positive and enthusiastic, yet still realistic, light possible, you’ll open the doors you want instead of shutting ones before you even knew they existed.

As a part of our series about business leaders who are shaking things up in their industry, I had the pleasure of interviewing James Curnin.

James Curnin is the CEO and Founder of Clara Homes, the Miami-based, vertically integrated real estate firm offering residential and commercial development, operations oversight and custom homes. With more than two decades of real estate experience, he is known for his reliable, quality and innovative work on ground-up new construction projects across LA, NYC and Miami. He specializes in the development of luxury spec homes and multifamily assets, and recently broke ground on his latest project, Clara Bay Harbor, a forthcoming three-building, 150-unit rental community that is reinventing luxury apartment living.

Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your “backstory”? What led you to this particular career path?

My great grandfather was an acclaimed New York City developer, so real estate captivated me from an early age. I had the opportunity to start working under his leadership at 14, an experience that forever cemented my interest in the business. I contributed to major tri-state area projects like Parker Meridian Hotels, Parker Towers and Parker Plaza and spent five years working on various assets that provided me with an all-encompassing understanding of the industry, ranging from development and construction to acquisitions and lease-ups. Most notably, I handled the on-site leasing of Truffles Tribeca, a 291-unit rental building, and oversaw the remainder of the family portfolio that included total gut renovation and sales/marketing of the outstanding 300 sponsor units valued at approximately $150 million.

After I left the family business and New York City, I decided to move to Los Angeles where I built three homes, before eventually settling in Miami so that I could start fresh and create a name for myself. I founded Clara Homes and got my start developing luxury spec homes. Recently I made the jump to focusing on multifamily assets, which was always a huge goal of mine.

Can you tell our readers what it is about the work you’re doing that’s disruptive?

At my newest project Clara Bay Harbor, a three-building, 150-unit rental community, I’m interested in reinventing luxury apartment living for a renter-by-choice demographic. There is a rising population of high-earning Americans increasingly eschewing homeownership for the liberties afforded by renting, and I saw an opportunity to cater to this audience.

The development will offer well-appointed apartments with high-quality finishes, personalized door attendants, concierge service and convenient on-site amenities to set a new standard for rental living in Miami that provides a comfortable, hassle-free residential experience. Just minutes away from the Atlantic Ocean and Miami’s trendiest retail and restaurants, Clara Bay Harbor’s first building features expansive two- to five-bedroom homes teeming with offerings like a parking garage, rooftop space, swimming pool, exercise area and a sundeck.

Clara Bay Harbor also broke ground at the forefront of the massive new development boom happening in Miami’s Bay Harbor neighborhood. The island has long-been ripe for revitalization into the next luxury residential destination because it maximizes Miami’s high quality of life and warm weather with its central location to the city’s hotspots and beaches, overall small town feel and good school district. Today Bay Harbor is undergoing a transformation as a slew of new towers launch and Clara Bay Harbor will be the only rental offering appealing to those seeking a spacious, modern home outfitted with New York-style service where they can put down roots.

I am also proud to have financial faith from Clara Homes’ construction lender in my vision for Clara Bay Harbor. Even during the presently shaky economy, high interest rates, and surging construction costs, I’ve secured a $26 million construction loan from Maxim Capital for the first phase of Clara Bay Harbor.

Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?

One of my biggest mistakes early on was with the first house that I built. Being early in my solo career, I put a little too much faith in my general contractor and architect to view my project in the same light that I did, and I also gave a bit more leeway than I do now. This resulted in more miscommunication on timeline and budget than desired, and we ended up $1.5M over budget and six months late. Now that I’m more experienced, I’ve learned that nobody loves your project the way you do, and no matter how credible someone is, you shouldn’t place blind trust in them. Moving forward, I thoroughly vet all my partners and set regular meetings so that we are all on the same wavelength, eliminating any big hiccups like that one.

We all need a little help along the journey. Who have been some of your mentors? Can you share a story about how they made an impact?

My great-grandfather, Jack Parker, is my most impactful professional mentor because he really took me under his wing when I was just getting my feet wet in New York City’s real estate business. To this day, I still use his advice and insights to guide the direction of Clara Homes and navigate some of the more challenging deals and opportunities. When I first really started getting my hands dirty in the industry during my summer internship at the Jack Parker Corporation and later while handling the on-site leasing of Truffles Tribeca, he always used to remind me to “chase every penny” and that phrase has stuck with me all these years later. It speaks to me because especially in this business, you need that drive and continued motivation to be successful. Thus, as Clara Homes continues to grow and expand, I hope to follow in his footsteps and create something lasting for my children.

In today’s parlance, being disruptive is usually a positive adjective. But is disrupting always good? When do we say the converse, that a system or structure has ‘withstood the test of time’? Can you articulate to our readers when disrupting an industry is positive, and when disrupting an industry is ‘not so positive’? Can you share some examples of what you mean?

Being disruptive in an industry means you’re initiating a big change that’s going to create a ripple effect throughout the sector. It is necessary to prevent stagnation.

Clara Bay Harbor is a great example of a positive industry disruption because the development of this forthcoming rental community caters especially to the increasing demand in Miami for luxury rentals that are a home, first and foremost, and not a place to stay. Clara Bay Harbor is pioneering the fruition of the tiny island community of Bay Harbor into a walkable, family-friendly residential destination without any sacrifices in amenities or service.

On the flip side, I would caution people in the industry against introducing a new style of living to an area that either isn’t suitable for residents or doesn’t have enough of a market to be successful or make an impact. Careless property development and planning that doesn’t take the local socioeconomic ecosystem into consideration is bound to make headlines — and not the kind you want.

Can you please share 5 ideas one needs to shake up their industry? If you can, please share a story or an example for each.

1 . Consider the community. Understanding the physical location and socioeconomic implications of the project you have in the works is imperative in making sure it is received well in the area. The ingredients can all be there and accounted for, but if the recipient isn’t a fan of what you’re cooking up, it will be a failed dish regardless of your labor. Real estate is a constantly changing field and creating a quality, beautiful home means something different to everyone, and it doesn’t look the same in every city either.

2 . Don’t tell yourself no. One of the worst things you can do for yourself as an innovator is shoot yourself down in a world where so many other people are already going to tell you no. If you lack the confidence in yourself and the project, it will be harder for other people to get on board with it too. By always framing your work and accomplishments in the most positive and enthusiastic, yet still realistic, light possible, you’ll open the doors you want instead of shutting ones before you even knew they existed.

3 . Embrace the roots already there. Shaking things up in an industry doesn’t necessarily mean reinventing the wheel. Some of the best innovations simply built upon the preexisting foundation and often, that’s for the best. Especially in real estate, there are usually aspects, whether it be impeccable weather, lower taxes, or a certain amenitized approach to service offerings, that has historically drawn residents to that particular area. Analyzing the market to realize what is there and sufficient from what is lacking can help you tap into a not-yet met need and be the one to disrupt the scene.

4 . Embrace standing alone. Just because nobody else is doing it, doesn’t mean that it’s a bad idea. It’s usually a good thing to be a pioneer in an industry because that’s how you shake things up best. If you can recognize a realized need in the market for your particular service or product, develop your business plan despite any doubts in yourself. Bay Harbor was historically overlooked for other residential island communities that were more popular at the time, but now of course we’re starting to see a development boom in the area as word gets out and other developers pick up steam. Standing alone often means staying ahead of the curve, and that’s where you want to be.

5 . Humanness is everything. Now more than ever following the pandemic, a genuine, human touch is not a want, but a requirement to most people. In real estate, that translates to homes that aren’t sterile, four-walled boxes, but someplace where future memories will be created, laughs will be shared, and privacy will be upheld. It’s easier to do this when you truly believe in the project you’re behind and impart notes and touches that you personally would be accustomed to. Thinking about all the little things, like how nice it feels when an otherwise stranger remembers your name when they greet you at the door, turns an apartment community into a home.

We are sure you aren’t done. How are you going to shake things up next?

I will continue Clara Homes’ expansion in South Florida and focus on the development of Clara Bay Harbor. There’s so much potential and opportunity in the market for innovative real estate that at this point, my only limiter is time! In such a dynamic city, there are always new locations to explore and new needs to consider, so I look forward to growing our portfolio of multifamily developments, with other types of property to come.

Do you have a book, podcast, or talk that’s had a deep impact on your thinking? Can you share a story with us? Can you explain why it was so resonant with you?

While it may sound cliché, Dale Carnegie’s “How to Win Friends and Influence People” really taught me some great techniques in handling people in both personal and professional settings.

Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?

“Chase every penny”, as told to me by my great-grandfather. It has enabled me to leap from single family homes to large-scale luxury rental buildings like Clara Bay Harbor, and the future only gets brighter as to the accomplishments of Clara Homes.

You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)

What a question! There are so many ideas that can inspire people to modify their ways and so many past ongoing movements that have prompted immense positive changes. It’s hard for me to pinpoint something in particular that I’d like to inspire as a movement, because I believe the best are typically something that happens organically. To me, it isn’t really something you explicitly set forth in action, but by being an all-around positive, optimistic and empathetic person, people are naturally influenced by the example you lead and follow suit.

How can our readers follow you online?

Instagram: https://www.instagram.com/clarahomes/ and https://www.instagram.com/jcurnin7/

Website: https://www.clarahomes.co/clara-homes.html

This was very inspiring. Thank you so much for joining us!