Mattamy Homes Purchases Development Site In St. Petersburg From Keystone Development For $12.64M

The property asset involved in this transaction is a 39-acre development site located at 12000 Gandy Boulevard in the St. Petersburg market. The sale price was $12,640,000. Mattamy Homes acquired 53 fully entitled townhouse sites in St. Petersburg’s Amara Bay Residences & Marina, with construction planned for townhomes ranging from 2,371 to 2,470 square feet, featuring 3 to 4 bedrooms starting in the $700,000s. The site is part of a mixed-use community that includes luxury apartments, a marina, and waterfront amenities.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $12,640,000
• Buyer: Mattamy Homes
• Seller: Keystone Development
• Broker: Mark Eilers - Colliers
• Date of Sale: 01/26/2026

Mark Eilers from Colliers represented the seller Keystone Development in this transaction. The deal highlights the ongoing development and investment in the St. Petersburg area, with plans for townhomes that cater to market demand for residential options within a comprehensive community framework.