Lapis Student Housing Near FIU Sells for $168.5M

Lapis, a 20-story student housing tower at 795 SW 110th Avenue near Florida International University in west Miami-Dade, sold for $168.5 million in October 2026. Buyer Affordable Housing Preservation Corp paid roughly $155,157 per bed for the 293-unit, 1,086-bed property, which spans 763,500 square feet.

Toll Brothers Campus Living developed the project in a joint venture with CanAm Capital Partners. Humphreys & Partners Architects designed the tower, with interiors by Mary Cook Associates. The partners bought the 1.72-acre site for $19 million in 2018 and financed construction with a $103 million Ocean Bank loan facility.

Construction began in July 2021; first residents moved in fall 2023. Floorplans range from studios to five-bedrooms. The property includes a 576-space parking garage and more than 5,000 square feet of retail.

Amenities include a resort-style pool, two-story fitness center with outdoor turf area, game lounge, coffee bar, club room, and Jumbotron deck. Each floor has private study and meeting rooms. The building also offers a business center, outdoor kitchens, bike storage, an indoor rideshare waiting area, and high-speed internet throughout.