{"id":288939,"date":"2026-05-29T14:48:08","date_gmt":"2026-05-29T14:48:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/288939\/"},"modified":"2026-05-29T14:48:08","modified_gmt":"2026-05-29T14:48:08","slug":"industrial-property-near-macdill-set-for-408-apartments","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/288939\/","title":{"rendered":"Industrial property near MacDill set for 408 apartments"},"content":{"rendered":"<p>Hillpointe has broken ground on a 408-unit workforce housing development in <a href=\"https:\/\/tbbwmag.com\/category\/south-tampa\/\" data-internallinksmanager029f6b8e52c=\"26\" title=\"South Tampa\" rel=\"nofollow noopener\" target=\"_blank\">South Tampa<\/a>, advancing one of the first large-scale local projects to use Florida\u2019s Live Local Act to convert industrial land into housing.<\/p>\n<p>The Winter Park-based developer is building Pointe Grand Interbay at Tampa on an 18-acre site at 7400 Interbay Blvd. near MacDill Air Force Base. The project will include 15 apartment buildings and is expected to open in June 2027.<\/p>\n<p>Hillpointe agreed to reserve 40% of the apartments for households earning between 80% and 120% of area median income. The affordability restrictions will remain in place for 30 years under agreements filed with the City of Tampa.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"777\" height=\"386\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-19-at-8.08.41-PM-777x386-1.png\" alt=\"Aerial view of a Hillpointe apartment community featuring multiple three-story residential buildings, ponds, clubhouse amenities and surface parking.\" class=\"wp-image-91361\"  \/>Hillpointe has broken ground on Pointe Grand Interbay, a 408-unit workforce housing community in South Tampa.<\/p>\n<p>The property previously contained industrial buildings and carries an industrial land-use designation. The Live Local Act allows qualifying affordable housing developments on certain commercial and industrial sites, creating a path for residential construction that would otherwise not be permitted.<\/p>\n<p>Hillpointe acquired the property for $18 million in June 2025 and later secured $67 million in construction financing from PNC Bank.<\/p>\n<p>The project comes as apartment development has slowed across the Tampa region. Cushman &amp; Wakefield reported first-quarter multifamily starts fell more than 25% below the five-year average, even as select developments continue moving forward under the Live Local framework.<\/p>\n<p>  Read More Tampa Bay Business News<\/p>\n<p>\n    Explore the latest Tampa Bay <a href=\"https:\/\/tbbwmag.com\/category\/business-news\/\" data-internallinksmanager029f6b8e52c=\"16\" title=\"business\" rel=\"nofollow noopener\" target=\"_blank\">business<\/a> news, <a href=\"https:\/\/tbbwmag.com\/real-estate\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Real Estate\" rel=\"nofollow noopener\" target=\"_blank\">real estate<\/a> deals, development projects, executive moves and company updates shaping the region.\n  <\/p>\n<p>\n\tRelated<\/p>\n","protected":false},"excerpt":{"rendered":"Hillpointe has broken ground on a 408-unit workforce housing development in South Tampa, advancing one of the first&hellip;\n","protected":false},"author":2,"featured_media":288940,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[135,137,136],"class_list":["post-288939","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tampa","tag-tampa","tag-tampa-headlines","tag-tampa-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/288939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=288939"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/288939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/288940"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=288939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=288939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=288939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}