Key International Secures $121 Million Loan for Amara Bay Residences & Marina
Key International has secured a $121 million construction loan for the development of Amara Bay Residences & Marina, a mixed-use waterfront community in St. Petersburg, Florida. Located at 12000 Gandy Boulevard N., the 39-acre project overlooks Tampa Bay and aims to bring upscale living and recreational amenities to the area.
The financing was led by ABANCA USA and will support the ongoing development of the property. Construction began in late 2024, with vertical building underway starting in the second quarter of 2025. The first phase of the community is expected to be delivered by the fourth quarter of 2026.
Amara Bay Residences & Marina is set to feature over 3,000 linear feet of walkable waterfront access and will consist of 415 luxury apartments. The development will also include a 150-slip marina and an 8,000-square-foot waterfront restaurant.
Community amenities are designed to promote an active, resort-style lifestyle and will include two resort-style pools, a clubhouse, volleyball and basketball courts, multiple pickleball courts, a playground, and a recreational field. Additionally, residents and visitors will have access to a scenic boardwalk with exercise paths and a kayak launch, enhancing the property’s appeal as an integrated residential and recreational destination.
