Toll Bros starts apartments at Frisco Square
Received $50M loan from Santander Bank
Sitework has begun for another luxury multifamily development in Frisco, signaling the area’s meteoric growth.
A Toll Brothers subsidiary, Toll Brothers Apartment Living, and partnering company Pondmoon Capital, recently started construction on the Mirra — a five-story, 285-unit apartment complex located at 8320 Church Street in the booming Frisco Square, Multi-Housing News reported.
A $49.5 million construction loan from Santander Bank, set to mature June 16, 2026, will help finance the 330,000-square-foot project. Construction is expected to be completed by fall 2024, according to its website.
The Mirra, built on a 296-acre lot, will have units ranging from studio to two-bedroom floor plans. It will also have 435 parking spaces and private balconies, terraces and yards for select plans. Amenities include a lounge and bar, social mailroom, resident clubroom, billiards lounge, fitness center and resort-style pool, the outlet said.
The Mirra is the latest example of developers’ “go big or go home” mentality as it pertains to Frisco. Other luxurious nearby projects include the Legacy Business Center, Granite Business Park, the new PGA of America Headquarters, Legacy West, Hall Park and The Star. Many of these communities feature a blend of boutique restaurants and retailers, single-family homes, apartment high-rises and lavish hotels.
Pondmoon CEO Patrick Chen said the recently announced Universal Studios theme park, being built just north of the Mirra, is an example of the area’s momentous growth, the outlet reported.
Pondmoon and Toll Brothers also completed the Ferro in November — a 379-unit rental community in Plano.
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