North America’s largest private homebuilder to build 53 luxury townhomes on Gandy in north St. Pete
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The largest privately owned homebuilder in North America has acquired 10 acres in north St. Petersburg, where it plans to build a luxury townhome community.
Earlier this month, Toronto-based Mattamy Homes purchased 53 fully entitled townhome sites at 12000 Gandy Boulevard from Miami-based Key International for $12.64 million.
The property is part of the 39-acre Amara Bay Residences & Marina, a mixed-use project currently in development by Key International that will also include 418 apartments across six four-story buildings, an 8,000-square-foot waterfront restaurant, and a 37,800-square-foot public marina with 150 boat slips.
Key International purchased the entire Amara Bay site for $14.44 million in 2022.
Amara Bay Residences & Marina are being developed on 39 acres near the Gandy Bridge in north St. pete | City of St. Pete
Each two-story townhome will be between 2,371 and 2,470 square feet, with floor plans offering three to four bedrooms, two-and-a-half bathrooms, and attached two-car garages.
Pricing is anticipated to start in the $700,000s, with sales launching in the summer.
Construction on the townhomes will start in the coming weeks.
“This is a rare waterfront development opportunity that is part of a larger mixed-use project,” said Mark Eilers of Colliers, who represented Key International in the sales transaction.
“The community will offer residents the quintessential Florida lifestyle everyone is looking for, but only a few will experience.”
Site plan for the 39-acre Amara Bay Residences & Marina at 12000 Gandy Boulevard in north St. pete | ACRE
The project was originally approved in early 2022 as Waterways Apartments and Marina, with 376 residential units, including 56 townhomes.
In 2023, the St. Petersburg City Council approved an amendment to the development agreement increasing the project’s density to 470 residential units, citing allowances provided under a 2021 Florida law known as the Graywater Statute.
The community will feature resort-style amenities including two resort-style pools, a clubhouse, a volleyball court, a basketball court, pickleball courts, a playground, and a recreational field.
It will also offer more than 3,000 linear feet of walkable waterfront, anchored by a boardwalk with fitness trails and a kayak launch.
An aerial photo of the construction progress of the Amara Bay Residences & Marina as of October 2025 | Aerial Innovations
Miami-based Strategic Group began site work on the apartments in late 2024, and vertical construction commenced in August of last year.
Completion of the apartments is expected by the end of the year, with preleasing beginning this summer.
The development team includes Miami-based MSA Architects, Architectural Alliance Landscape as landscape architect, Moffatt & Nicol as coastal engineer, and Kimley-Horn as civil engineer.
The development is part of a growing St. Pete portfolio for Mattamy, which is also building 76 single-family homes and townhomes in the Historic Old Pasadena neighborhood in west St. Pete.
