For the exploitation of offshore wind resources in areas with intermediate water depths, a novel semi-spar floating foundation is introduced to combine the superiority of the conventional semisubmersible and spar-type floater. It consists of an upper floater and a hanging weight, which are connected through 12 suspension ropes. Such a floating foundation can be wet-towed as a semisubmersible floater, which features a large waterplane moment of inertia to increase stability and reduce transportation costs. After being anchored on site, it behaves as a spar floater with moderate draft and superior hydrodynamic characteristics. The stability of the proposed semi-spar platform during wet towage is analyzed. Afterward, a fully coupled aero-hydro-servo-elastic simulation is conducted to evaluate its hydrodynamic responses in comparison with the responses of the well-acknowledged OC3-spar and OC4-semisubmersible platforms. Then, the ultimate strength of the mooring lines and suspension ropes under extreme conditions was numerically investigated, as well as the relationship between the ropes’ tension and wave direction. Eventually, a cost-effectiveness analysis is conducted in terms of power generation and steel mass. The results demonstrate that the proposed semi-spar design meets the safety criteria in transportation and exhibits a smaller response in surge and pitch motions. In addition, the ultimate strength of mooring lines and suspension ropes satisfies the safety requirements, and simulation reveals that the lateral suspension ropes parallel to the propagation direction are sensitive to the environmental conditions of winds and waves. This study confirms that the newly proposed floating wind turbine exhibits excellent hydrodynamic and power generation performance, which is of great significance for the sustainability of the energy and electricity industry.