Florida Institute of Technology - Central Campus Expansion

Florida Institute of Technology needed several new facilities to support its anticipated growth.  Florida Tech’s idea was to redevelop several acres of underutilized land on its main campus.  The institution needed a strategic partner to offer financing and development expertise.  TUFF was invited by the University to join a development team to leverage its innovative financing structure. TUFF entered into a ground lease for the parcels and a long-term master lease with the Institution for each facility. To expedite the construction process, TUFF invested $30 million in equity prior to securing a permanent financing solution.

The first phase of the $58 million project was delivered on-time and on-budget in August 2008.  The second phase consists of a life sciences research facility, food services facility, structured parking deck, and swimming and diving facility.

The Harris Center for Science and Engineering delivered in October 2009, the food services building and parking structure were first occupied in November 2010, and swimming and diving facility was delivered in early 2011.