Toll Brothers JV Opens Central Florida Student Community
The property totals 680 beds.
A joint venture between Toll Brothers Campus Living and The Davis Cos. has officially opened Aperture, a 204-unit, 680-bed student housing community in Orlando, Fla. The firms first announced the project in November 2023.
The developer completed the property using funds from a $50 million construction loan originated by TD Bank that same year, according to Yardi Matrix information.
“Toll Brothers Campus Living continues to seek opportunities to develop best-in-class student housing communities at large four-year public universities across the U.S.,” Toll Brothers Campus Living Director of Acquisitions & Development told Multi-Housing News.
Located at 12727 E. Colonial Drive, the student housing community is close to Highway 50 and less than 2 miles from the University of Central Florida at Orlando campus. Downtown Orlando is within 14 miles, while the city’s international airport is 18 miles southwest.
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Aperture consists of two five-story buildings sitting on 8 acres. The unit mix comprises studio, one-, two- and four-bedroom floorplans ranging from 528 to 1,698 square feet. Apartments are fully furnished and have washers and dryers, as well as private balconies or patios in select layouts.
Common-area amenities include a swimming pool with tanning shelf and a mini Jumbotron, along with a two-story fitness center. The community also has an outdoor turf area, study lounges on every floor, private and group workspaces, a computer lounge and an e-sports gaming lounge, coffee house and courtyard with firepits and grills, as well as EV charging stations.
Toll Brother Campus has developed about 2,400 units and more than 7,000 beds across the U.S. since its inception, with approximately 2,400 more beds underway. Last year, the firm completed Kinetic, a 752-bed student property in Atlanta rising 34 stories.
Student housing sector remains strong
The student housing sector continued to perform well in the first seven months of the year, according to the latest Yardi Matrix student housing report. Preleasing reached 89.9 percent as of July across Yardi 200 schools for the 2025-2026 academic year, 170 basis points ahead of the same month last year.
The University of Central Florida was 95.2 percent preleased during the same month, marking a 1.1 percent year-over-year increase. However, the school posted a 3.3 percent decrease in rent compared to July 2024.
