Key International secured a $121 million construction loan for Amara Bay Residences & Marina, a waterfront mixed-use development located at 12000 Gandy Boulevard N., St. Petersburg. Led by ABANCA USA, the loan will fund the ongoing development of the 39-acre project overlooking Tampa Bay. Construction of the project commenced in late 2024, with vertical construction beginning in Q2 2025. The initial buildings are anticipated to be delivered by Q4 2026.
Amara Bay Residences & Marina will boast over 3,000 linear feet of walkable waterfront space, featuring 415 luxury apartments. An 8,000-square-foot waterfront restaurant will open adjacent to a 150-slip marina. Amenities for the community will include two resort-style pools, a clubhouse, a volleyball court, a basketball court, pickleball courts, a playground, and a recreational field. The property will also have a boardwalk lined with exercise paths and a kayak launch.
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