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Florida Tech opens 556-bed dorm funded by $96.1M municipal bonds

The six-story student housing complex, dubbed Crimson Crossing, took 15 months to build under a public-private partnership model.

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Florida Tech has opened Crimson Crossing, a six-story student housing complex on its Melbourne campus with 556 beds.

ConnectCRE reports the project was financed with $96.1 million in municipal bond financing and built using a public-private partnership, with Servitas Development as the partner.

The community was completed in 15 months and features apartment-style, four-bedroom, two-bathroom suites with full kitchens, plus amenities including classroom, study and lounge spaces, a multipurpose room, and two outdoor courtyards.

ConnectCRE says demand for additional student housing is being driven by Florida Tech’s enrollment growth, including a rise of more than 27% in total student enrollment since 2019 and a first-time-in-college increase of more than 43%, with fall-to-fall retention improving from 74.3% in 2022 to 83.3% in 2025.

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