Forge Capital, Intown/Framework plans Harbour Island apartment project

A joint venture between private equity firm Forge Capital Partners and Intown/Framework Group has announced plans to construct a residential development on Tampa's Harbour Island.

The project will create a 21-story, 235-unit upscale residential community on an empty lot at Knights Run Avenue and South Beneficial Drive. The project will include a mixture of studios, one- and two-bedroom floor plans and two-story townhomes. It will also feature an infinity-edge swimming pool, a fitness center and a 414-space, seven-story integrated parking garage.

Construction is scheduled to start by the end of the month and the project is set for completion sometime in early 2016.

Intown/Framework Group LLC is a joint venture of Intown Group and Framework Group. Intown/Framework Group's principals, Greg Minder and Phillip A. Smith are best known for their urban Tampa residential developments which include Element and Skypoint, both located in downtown Tampa, Meridian Lofts in the Channelside District, and 4310 Spruce and Varela, both currently under construction in Westshore.

Multi-Family Construction LLC, an affiliate of Batson-Cook Residential, will be the general contractor for the project and Reese Vanderbilt & Associates LLC designed it.

BBVA Compass is providing debt financing and the balance of the capital for the project is being provided by Forge and its affiliates.

“Harbour Island is recognized as one of Tampa's most distinguished and most desirable places for people to live due to its central location, proximity to downtown and vast waterfront,” Minder says in a press release. “Harbour Island epitomizes a high-end, master-planned community. The addition of this modern apartment building brings new excitement and renewed interest to this thriving community.”

The developers have yet to name the project and are currently referring to it as HI Apartments.