Miami developer secures $121M financing for St. Pete waterfront project
By Emma Behrmann
Tampa Bay Business Journal
Published: Oct 10, 2025

A Miami-based developer has secured key financing to transform a waterfront St. Petersburg property into a vibrant mixed-use development.

Key International is leading the project called Amara Bay Residences & Marina, previously known as Waterways Apartments and Marina, at 12000 Gandy Blvd. N. The project includes 415 apartments, 150 boat slips, an 8,000-square-foot waterfront restaurant and several other amenities. The developer secured a $121 million construction loan from ABANCA USA on Wednesday.

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