A Miami real estate investment firm has purchased 39 acres of waterfront from St.
Key International, whose Tampa Bay project includes the Residence Inn and SpringHill Suites in Clearwater Beach, announced Friday that it will close three properties adjacent to the 12,000 block in Gandy, with construction set to begin in 2023. Bel Air Bluffs. Pinellas County records show that the purchase price for the three districts was $19 million for him.
“We have been working with the local community and the City of St. Petersburg for over 18 months to offer residents, customers and neighbors the opportunity to enjoy a waterfront lifestyle in a location at the heart of key demand drivers for the region. Created the project, Michael Basilaros, chief investment officer at Key International, said in a statement:
The land is on the south side of Gandhi Boulevard across from WTSP-Ch. 10 news stations. The yet-to-be-named development includes 324 waterfront apartments, 52 rental townhomes, and his 8,000-square-foot marina adjacent to the marina and slip. The developer plans a public promenade with facilities such as a pool, playground, pickleball and basketball courts, as well as a kayak launch area.
The development is “a true trophy project and will benefit local residents and visitors alike,” said Mark Eilers, executive managing director of land services for Colliers, who represented the seller, in a statement.
“Florida’s economy is booming and St. Petersburg ranks as one of the fastest growing real estate markets in the state,” Key International co-president Inigo Ardid said in a statement. “We are thrilled to be able to create a product of this scale that not only meets the demand for housing, but also creates new waterfront amenities that the entire community can enjoy.”