There is a new project template now available on Visual Studio Gallery for VS2012 and VS2013. This template provides a single F# project with ASP.NET MVC 5 + Web API 2.
To get the most out of this template, it is recommended that you follow the steps defined in this blog post as well as install the F# Web Item Templates. After the template is installed, you can find it under Visual F# | Web | ASPNET.
A big thanks goes out to Sayed I. Hashimi and Mads Kristensen for adding F# support to SideWaffle! SideWaffle reduced the time that it would have normally taken to create this template and it is sure to reduce time and headaches for future maintenance. I'd also like to thank Ryan Riley for contributing much of the initial project that was used to create this template.
If you'd like to contribute, visit https://github.com/fsharp/FSharpCommunityTemplates for information on how to get involved.