Work Underway On 444-Unit Apartment Complex On Old Tampa Bay

Work Underway On 444-Unit Apartment Complex On Old Tampa Bay

A groundbreaking ceremony May 22 marked the start of construction for The Pointe on Westshore. (Index Investment Group)

TAMPA, FL — Index Investment Group, an international real estate investment and development company with local headquarters in Jupiter, hosted a groundbreaking ceremony May 22 to mark the start of construction for The Pointe on Westshore, a luxury multi-family apartment community in Tampa.

The property is being developed by Westshore Pointe LLC, a venture between Index Investment Group along with local partner Richard Coley.

The project will be constructed by Verdex Construction, financed by BB&T and Regions Bank, designed by Jacobs & Associates and managed by Arlington Properties.

The Pointe on Westshore is a 23-acre site that overlooks Tampa Bay. It is located at 4950 Prescott St. in Port Tampa City and will consist of six, five-story buildings with 444 luxury apartments including 28 carriage homes. It will also feature a two-story, 11,000-square-foot clubhouse featuring two pools and a fitness center. The buildings total 679,563 square feet. Total development cost is estimated at just over $100 million.

"This is a truly a spectacular location, with sweeping views across Old Tampa Bay that will provide for dramatic sunsets night after night," said Bjarne Borg, CEO of Index Investment Group. "This site is also the gateway to Port Tampa City, and will offer desperately needed housing options close to MacDill Air Force Base and Port Tampa City."

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"Index Investment Group is a great partner, and we look forward to being a key component of its goal to bring top-quality, new residential options to Tampa." said Verdex Construction President Rex Kirby.

The project is expected to be completed in February 2021 and will become part of the Westshore Marina District that will include the 192-unit Harbour at Westshore and the 585-unit Bowery Bayside, both of which are under construction.

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