MIAMI, FL – Toll Brothers, the nation s leading builder of luxury homes, through its Toll Brothers Campus Living division, and joint venture partner CanAm Capital Partners, announced the opening of Lapis in Miami, Florida. The brand-new luxury high-rise apartment community, designed exclusively for college students, spans more than 763,500 square feet, featuring 293 units and 1,086 beds within its 20 stories. Situated on a 1.73-acre site at 795 SW 110th Avenue, Lapis is adjacent to the Modesto A. Maidique Campus of Florida International University (FIU).
Financed with a $103 million construction loan facility from Ocean Bank, construction commenced in July 2021 and first residency was offered for the fall 2023 semester of FIU. Toll Brothers Campus Living is responsible for the development, construction, marketing, and asset management of Lapis.
We are delighted to welcome residents to our newest luxury student apartment community adjacent to the prestigious FIU in Miami, said Richard Keyser, Vice President of Acquisition and Development for Toll Brothers Campus Living. Lapis seamlessly integrates the flexibility of off-campus living with the proximity to the FIU campus. With well-appointed residences and resort-style amenities, Lapis offers students an unparalleled living experience.
The community was designed by Humphreys & Partners Architects, with interior design by Mary Cook Associates and branding by Streetsense. Lapis offers studio, one-, two-, three-, four-, and five-bedroom luxury rental apartments, allowing students to choose their preferred living arrangements. The community also boasts more than 5,800 square feet of ground-floor retail space, featuring Crema Gourmet Espresso Bar, Brooklyn Dumpling Shop, and Insomnia Cookies.
Lapis provides residents with an array of amenities within its 24,000 square feet of interior and exterior spaces. These include a 2-story state-of-the-art fitness center with outdoor turf area, an expansive deck with a Jumbotron, pool, and grilling areas, as well as private study and meeting rooms on each floor. Additionally, the community offers a computer lounge with complimentary printing services, complimentary coffee and cold brew, valet trash, self-serve package lockers, secured refrigeration for food delivery, a bicycle storage area, an indoor rideshare waiting area, and high-speed community-wide Wi-Fi. Residents also benefit from secured access control, 24-hour on-site security personnel, and a gated parking garage, which includes 8 electric vehicle charging stations.
Lapis exemplifies the quality and luxury living experience for which the Toll Brothers brand is already well known nationwide, and continues that legacy with our Campus Living division, said John McCullough, President of Toll Brothers Apartment Living, the multifamily division of Toll Brothers which oversees its Campus Living division. With exceptional materials, amenities, design, construction, and resident services, Lapis offers the finest living experience for the next generation of scholars at FIU.
We are thrilled to witness the successful opening of this impressive asset that sets a new standard in the FIU market, said John Reid, Director and head of Project Development with CanAm Capital Partners. Toll Brothers has been an outstanding partner and a pleasure to work with. The level of quality, on-time delivery, and full occupancy at the property proves their ability to deliver for us as a partner and our investors.
FIU has experienced significant growth, with a nearly 27% increase in enrollment over the past decade. According to the US News & World Report, FIU ranks as the nation’s 8th largest public university by enrollment with more than 55,000 students, and lists dozens of FIU programs among the best in the nation. FIU has been named an Emerging Preeminent State Research University and has been designated R1 by the Carnegie Classification of Institutions of Higher Education. Washington Monthly has also ranked FIU among the top 20 public universities contributing to the public good.
Lapis is the first Toll Brothers multifamily project in Florida and joins the growing Toll Brothers Campus Living student housing portfolio nationwide. Previous developments include The Yards at Old State at The Pennsylvania State University, which opened in 2020, Canvas at Arizona State University, which opened in 2021 and was sold in 2023, and Terrapin Row at the University of Maryland, which opened in 2016 and was sold in 2017. In 2024, Toll Brothers Campus Living anticipates the opening of The 87 at the University of Notre Dame and Kinetic at the Georgia Institute of Technology.