Clearwater condo project ‘exceeds expectations’ in sales
By Breanne Williams
Tampa Bay Business Journal
Published: Oct 21, 2022

Clearwater-based Edgewater Valor Capital LLC has sold out its Clearwater/Dunedin area condominium development Serena by the Sea. Moises Agami, CEO of Valor Capital, said Serena by the Sea exceeded the market’s expectations and points to high demand for luxury living in Clearwater and Dunedin. The development is at 1020 Sunset Point Road.

Valor’s highest unit went under contract at $1,107 per square foot in July. There are 80 units in total. Due to the rapid sales and the success in navigating supply shortages, Agami said they have moved up the delivery date to the end of the first quarter of 2023.

“We were expecting to see approximately 30% out-of-state buyers, but instead, it ended up being around 70%,” Agami said. “People are moving their businesses here, they’re moving to take advantage of the lifestyle they can find here.”

Agami said during the pandemic, cities across the state saw a wave of transplants, but now the goal is to make sure those who moved here remain. It’s time the county “steps up its game” to continue to attract residents and focus on improving the quality of life for those who call the area home, he said. In comparison to large metro areas like Miami, Agami said Tampa Bay and specifically Pinellas County still has some catching up to do.

However, there are a lot of elements of the city that are appealing to those looking to move. The airport, job opportunities, beaches and “amazing social scene” have helped put Tampa Bay on the map, and he believes the demand for product in Pinellas is only going to continue to grow.

Serena by the Sea is what Agami calls a “relaxed luxury product,” and he said there is demand in Clearwater and Dunedin for higher-end living.

He is now preparing to build a townhouse development on .96 acres adjacent to the site at 1028 Sunset Point Road. There will be 10 residences with access to the upgrades offered at Serena by the Sea — like lighting upgrades, private elevators and large format tiles. The homes will be three stories and approximately 3,500 square feet each with ground-floor office and garage space.

He’s seeing the market slow in general but expects that following Serena by the Sea, the exclusive residences will fill “faster than we can build them,” Agami said.

He added they plan to soon expand their reach beyond Clearwater and Dunedin.