NewsPinellas County


Clearwater development could give big boost to economy

Posted at 9:44 AM, Mar 16, 2021
and last updated 2021-03-17 08:36:17-04

CLEARWATER, Fla. — An innovative new luxury development could give Clearwater a big boost to its economy.

ABC Action News Anchor James Tully looked into a luxury condominium, built to withstand almost anything mother nature, or even a pandemic, can throw at it.

Developer Moises Agami remembers being three years old in his grandmother’s kitchen in Clearwater, always admiring the area and now he can really contribute to it.

“We did an economic study and it’s telling us that our project just Serena by the Sea is going to have a $200 million economic impact that wasn’t there before,” Agami told ABC Action News reporter Robert Boyd.

Serena by the Sea will be an 80 unit luxury condominium on Edgewater Drive, overlooking the water with amenities never before seen in a pre-pandemic world.

“We really had to get back to the drawing board and figure out how to make a condominium safer than a single-family home,” Agami said.

Condos will have fresh air intakes, filtrations systems, and UV lights to kill germs.

“We’ve implemented emergency procedures in case this pandemic persists, or if we have a new one,” Regina Sotomayor, Chief Sales Officer with Valor Capital, said.

But with units priced as high as $3.5 million, here’s why everyone should care it’s being built.

“What that means to our community our locals, more jobs, more people coming to supermarkets, grocery stores, more people coming to Capitol Theater,” Sotomayor said.

Valor Capital, Moises’ company estimates this project alone, will bring in 1300 new jobs and even before a speck of cement has hit the ground, they’re off and running.

“We’re 50% sold, on Friday we sold our forty-ninth unit, benchmark is set, 50% sold before we even break ground.”