A brand new 285-unit, five-story multifamily rental community has been announced to be built in Frisco, with construction scheduled to begin in February of this year.
According to market news website Yahoo! Finance, the Texas-based project is a joint venture between luxury home company Toll Brothers, Inc. — through its Toll Brothers Apartment Living rental division — and apartment investment group Pondmoon Capital USA.
The multifamily rental community, which is called Mirra, will feature a total of 285 high-end apartment units.
Each apartment unit will have luxurious finishes, along with an extensive list of amenities that residents will be able to utilize and enjoy. Among the announced amenities include a resort-style swimming pool, a fitness studio for the workout enthusiasts, a clubroom, coworking spaces, a bike lounge, an outside lounge that offers a barbecue and various games, etc.
Mirra will also have a parking garage that can fit as many as 447 vehicles at a time, providing plenty of automobile space for the copious amount of car owners out there.
The rental community will be built and located on a 2.96-acre lot in Frisco Square Town Center, which is within close proximity of Frisco Square, various business parks and Legacy West. Residents with vehicles will also be within accessible driving distance to the city of Dallas, as well as the DFW International Airport, Yahoo! Finance says.
“As we continue expanding our presence in Texas, we look forward to bringing another luxury community to the Dallas-Fort Worth market with Mirra, which will introduce thoughtfully designed and uniquely elevated apartment homes for the most discerning residents in Frisco,” said Charles Elliott, President of Toll Brothers Apartment Living, in an interview with Yahoo! Finance.
“Mirra will offer everything our residents have come to expect from Toll Brothers Apartment Living communities, including exceptional quality, luxury, and service that exemplifies the very best Texas hospitality.”
Construction on the project will be financed via a construction loan facility worth almost $50 million from the Boston-based Santander Bank N.A.