Developer secures $121 million loan for St. Pete project
October 10, 2025 - Miami-based developer Key International has secured a $121 million construction loan from ABANCA USA to help fund an embattled waterfront project in St. Petersburg. The project, now dubbed Amara Bay Residences & Marina, has gone through several iterations and name changes. It will feature 415 apartments, 150 boat slips, an 8,000-square-foot restaurant, a boardwalk and several other amenities. Construction commenced in late 2024.