Toll Brothers Opens Miami Student Housing Community
The 20-story building is located near Florida International University’s main campus.
Toll Brothers has completed its first multifamily project in Florida with a 293-unit student housing community in Miami. The developer started construction on its Lapis property in July 2021, with plans to open in fall 2023.
The developer tapped Humphreys & Partners Architects to design the community, while Mary Cook Associates was tasked with interior design. The project also landed a $103 million construction loan from Ocean Bank.
The 20-story Lapis community offers a total of 1,086 beds in studio, one-, two-, three-, four- and five-bed floorplans that range from 529 to 1,629 square feet. The fully furnished units include washers and dryers, while select units have in-suite private bathrooms and oversized closets.
Residents will have access to 24,000 square feet of indoor and outdoor amenity space, including a two-story fitness center, deck with a Jumbotron display, pool, computer lounge, bicycle storage area, an indoor rideshare waiting area, a grilling areas, study and meeting rooms, self-serve package lockers, food delivery refrigerators and parking garage with eight electric vehicle charging stations.
Toll Brothers has also developed 5,800 square feet of ground-floor retail space at Lapis, which has been leased to Crema Gourmet Espresso Bar, Brooklyn Dumpling Shop and Insomnia Cookies.
Located at 795 SW 110th Ave., Lapis is located across the street from Florida International University’s 342-acre campus. The community also provides residents with an approximately 30-minute commute to downtown Miami.
Breaking into the Florida market
While Lapis marks Toll Brothers’ entry into the Florida market, the company is also working on an off-campus student housing community near the University of Central Florida in Orlando. The 680-bed Aperture project is slated to open in fall 2025.
The company recently sold its 826-bed Canvas Tempe student housing community, located near Arizona State University in Phoenix. Toll Brothers and Harrison Street broke ground on the project in 2021, later selling it in May 2023. The developer is also working on The 87, a 355-unit student housing community in South Bend, Ind. Toll Brothers broke ground on the community in November 2022 and planning to open it in 2024. The community is aimed at students at University of Notre Dame and other area colleges.