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 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.”