500 Harbour Island Opens in Tampa

By Robert Demeter

Tampa, Fla.—500 Harbour Island, located on Harbour Island in Tampa, has recently opened. The 21-story high-rise encompasses 235 residences, featuring studios, one- and two-bedroom units, 32 penthouse homes and five ground-level townhomes.

Conveniently located at 500 Knights Run Ave., the property offers easy access to downtown and shopping, dining and entertainment venues. The amenity package includes an eighth-floor amenity deck with views of the city, three outdoor TV’s, two grilling stations and a dog park. The community also boasts an infinity pool with a waterfall on the fourth floor, as well as a clubroom, fitness center and day spa, recreation center, conference room, library and more. Pre-leasing started in August 2016, and as of March 2017, 500 Harbour Island is 23 percent leased, according to Yardi Matrix data.

“Our goal was to offer the Tampa market a high-end apartment home product backed by first-class customer service, and strategically develop this product on Harbour Island. Finding a site on Harbour Island makes the project that much more appealing to the high-end demographic we are targeting. 500 Harbour Island is a unique offering of ‘island living’ with the best of city living only a ferry ride, water taxi or short drive from home,” said Phillip Smith of Intown/Framework Group.

The local development team for 500 Harbour Island is comprised of Robert Moreyra and Peter Collins of Forge Capital Partners, and Phillip Smith and Greg Minder of Intown/Framework Group. The management company hired to oversee both leasing and management is Gables Residential. BBVA Compass Bank provided a $41.5 million construction loan in 2014, according to Yardi Matrix.

“Based on market research, we believe there is adequate demand for a first-class, luxury rental community like 500 Harbour Island. We invested considerable resources in thoroughly planning the project’s amenities and services to cater to the desired demographic. We also brought in the best management company to support the needs of the residents,” added Moreyra.

Photos courtesy of 500 Harbour Island website