Toll Brothers Apartment Living and Pondmoon Capital USA Announce the Groundbreaking of Mirra, a New Luxury Rental Community in Frisco, Texas

Construction has begun on community featuring 285 luxury residences and totaling more than 330,000 square feet in the Dallas-Fort Worth Metro Area

DALLAS, March 24, 2023 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, and joint venture partner Pondmoon Capital USA, today announced the groundbreaking of Mirra, a new five-story, 285-unit luxury mid-rise rental community totaling more than 330,000 square feet in the rapidly growing city of Frisco, Texas. Mirra is being financed through a $49.5 million construction loan facility from Santander Bank N.A.

A groundbreaking celebration at the construction site this week was attended by senior executives from Toll Brothers Apartment Living and Pondmoon Capital USA, local officials, as well as members of the media. Mirra is expected to be completed in 2024.

“We are excited to bring even more luxury rental units to the rapidly growing and sought-after city of Frisco, Texas, which is known for its small-town charm, lively entertainment options, and overall great quality of life,” said John McCullough, President of Toll Brothers Apartment Living. “Mirra will offer residents thoughtfully designed apartments that exude the best in luxury living, with the region’s best shopping and dining just steps away at Frisco Square.”

Mirra will feature high-end luxury finishes and a best-in-class amenity package, including a leasing lounge and bar, a social mailroom, a resident clubroom, a billiards lounge, a coworking area, an expansive fully-equipped fitness center, a resort-style pool, an outdoor lounge with gaming and grills, and bike lounge. Mirra also includes parking for 435 vehicles, including a structured parking garage with EV (electric vehicle) charging stations.

Featuring studio, one- and two-bedroom floor plans, residences will include granite countertops with tile backsplash, stainless steel appliances, designer custom cabinetry, wood-style LVT flooring in living areas, plush carpeting in bedrooms, oversized closets, and smart home features. Private balconies and terraces, as well as private yards, will be offered in select residences.

“We are excited to break ground on another Class A residential development with Pondmoon as part of our growing national partnership,” said Tommy Rhodus, Managing Director of Toll Brothers Apartment Living. “With distinction found in every detail, Mirra will offer the perfect balance of lifestyle and luxury that’s thoughtfully curated, crafted without compromise, and situated in an exceptional community surrounded by top schools, restaurants, shopping, and endless fun.”