“It was important for us to incorporate the villas and condos into this building instead of building a separate structure. Just like our community today, we want to have a united development, and this will be a continuation of that,” Yazdani said.
The residential units in the tower will feel like entering a 5-star hotel with high-end finishes and water views, Yazdani said, also sharing the anticipated prices.
Pricing for the condos is expected to start at approximately $1.5 million ($1,000 per square foot). The two-story penthouses, which will include a private elevator, floor-to-ceiling windows, and panoramic views, will be priced at $7 million. Meanwhile, the villas will likely be priced around $2 million.
The Mediterranean-designed tower also incorporates storm-resilient infrastructure. A 250-space parking garage will include up to 100 shared spaces available for use during hurricanes by other Marina Bay residents and by an adjacent assisted living and nursing facility.
“During last year’s storms, the residents at the assisted living facility were clinging to their belongings and fleeing the property for fear of their vehicles sustaining damage from the storms. Marina Bay had zero flooding issues. Our block and masonry-built homes and garages are designed to withstand storms,” Yazdani said.
“We can help both the Marina Bay residents who have their family’s visiting and the residents at the facility who are worried about their vehicles with this new parking.”
The main entrance to Marina Bay will be reconfigured and enhanced with 24-hour security as part of the project. Yazdani also plans to update the signage, gates, and fencing throughout the property.
The same development team that collaborated on Marina Bay will lead the construction on Marina Bay Residence with ITI Construction LLC, which is controlled by Yazdani, serving as the program manager. The group has built over $2 billion worth of projects throughout Tampa Bay and Florida.
Tampa-based BDG Architects and Clearwater-based civil engineering firm Anderson Lane Inc. are also on the team.
To build the new tower, Yazdani is seeking a variance to increase the maximum building height on the parcel from the currently allowed 85 feet to 150 feet. Yazdani notes the nearby condominium towers at Point Brittany were permitted to rise 175 feet.
Pending the city’s approval, construction for Marina Bay Residence is expected to commence in spring 2026 and be completed by spring 2028.