A large workforce housing development is moving forward in South Tampa as developers and city officials continue responding to growing affordability pressures across Florida’s urban markets.
Hillpointe has started construction on Pointe Grand Interbay at Tampa, a 408-unit apartment community located near MacDill Air Force Base at 7400 Interbay Blvd. The project is designed to expand housing availability for middle-income workers increasingly priced out of high-demand neighborhoods.
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The three-story residential development is being delivered under Florida’s Live Local Act, a statewide housing law enacted in 2023 to accelerate workforce housing construction through streamlined approvals and development incentives.
Under the legislation, qualifying projects must reserve at least 40% of units for households earning between 80% and 120% of the area median income for a minimum of 30 years. Hillpointe, however, plans to designate all units within the Interbay development as workforce housing.
The project will primarily feature two-bedroom, two-bathroom apartment layouts intended to serve working professionals, military personnel and other middle-income residents seeking housing closer to employment centers.
South Tampa has experienced sustained population growth and tightening apartment vacancy rates in recent years, increasing pressure on both developers and local governments to accelerate multifamily construction. The project’s proximity to MacDill Air Force Base also positions it to serve military families and civilian workers connected to the installation.
The development is financed through a $67 million private loan package, reflecting continued private-sector interest in workforce housing investments despite elevated construction costs and financing challenges facing many multifamily projects nationwide.
City officials indicated that the Interbay development represents only the second Live Local Act project currently underway in Tampa, although numerous additional applications are in various stages of review and permitting.
The legislation has generated both support and controversy across Florida because it limits certain local review processes in order to speed housing production. While supporters argue the law helps address severe housing shortages, some communities have raised concerns about density, traffic and reduced public input during approvals.
For contractors and developers, the project signals continued momentum in Florida’s workforce housing sector, particularly as state-level policies create new opportunities for multifamily construction in supply-constrained markets.
The development also reflects broader trends across the Southeast, where rising home prices, population migration and labor shortages are driving increased demand for attainable rental housing near employment hubs.
Construction activity is expected to continue through 2027 as crews complete site work, vertical construction and infrastructure improvements tied to the South Tampa project.
Originally reported by Briona Arradondo in Fox 13 News.
