A 12-story luxury condominium with rooftop amenities and sweeping water views is planned for the last significant undeveloped parcel along the Pinellas Bayway in St. Petersburg.
Developer Reza Yazdani, who has spent two decades building out the 67-acre Marina Bay community, announced Marina Bay Residence, a $120 million project with 96 units overlooking Boca Ciega Bay and the Gulf beaches.
Plans will be presented to the city’s Development Review Commission in early October. If approved, construction is expected to begin in spring 2026 and finish in spring 2028.
Meeting market demand
“There is incredible demand for homes in Marina Bay, and many potential buyers are interested in a luxury condominium with all of the amenities and spectacular views of Boca Ciega Bay, our beautiful Gulf beaches and beyond,” Yazdani said. “Marina Bay Residence will fill a market need and feature the same first-rate construction and attention to detail that have made our planned community such an overwhelming success.”
The building will offer concierge and valet services, a resort-style pool with lounge areas, a fitness center, a business center and an outdoor rooftop with panoramic views. A landscaped water feature will border the site and connect to Marina Bay’s 15 acres of lakes.
RELATED: New renderings released of Marina Pointe’s second tower
A 250-space garage will include 100 undesignated spaces set aside for Marina Bay residents during hurricanes and for the neighboring assisted living and nursing home facility. The community’s main entrance will also be reconfigured with 24-hour security.
Scale and design
Residences will range from 1,500 to 3,050 square feet. Eight two-story penthouses with four bedrooms each will top the building, while six single-story villas will sit above parking along the perimeter.
BDG Architects of Tampa and Anderson Lane Inc. of Clearwater will handle design and engineering. ITI Construction, another Yazdani-controlled company with over $2 billion in projects across Florida, will serve as the program manager.
The development requires a variance to raise height limits on the site from 85 feet to 150 feet. Nearby condominium towers at Point Brittany rise to 175 feet.
The last piece of Marina Bay
Marina Bay Residence will sit on more than five acres purchased in September 2024 by Marina Bay Development IV, LLC. It is the only remaining parcel along the Pinellas Bayway zoned for residential towers.
The broader Marina Bay community comprises 187 homes, villas and condominiums, all built to FORTIFIED standards, designed to withstand severe weather.
READ: Industry veteran buys Riverview Village Inn
A developer’s imprint
Yazdani, who resides in Marina Bay, has developed schools, apartments, business centers and condominiums across Florida for over four decades. He purchased the Marina Bay site from Eckerd College in 2003 and has since developed a gated community featuring a clubhouse, two pools, a fitness center and a deep-water marina with 42 docks.