"There are tons of things in the building that are not replicated elsewhere," Pearl says. "In addition, we designed the building with a big emphasis on privacy and security. Most of the units in the building are singles and studios, so we have a huge portion of the building where you can have a private experience, which is unusual in student housing."

Construction is set for July completion. The One is being developed through a $231 million bond issuance by University Bridge, LLC, which when funded in 2018, represented one of the largest financing of its kind for an off-campus student housing building in the US.

Diego Procel, also a principal with Global City, says The One emphasized technology throughout with wifi and advanced security systems, including panic buttons.

Pearl says The One is about double the size of a typical student housing building. He says a study conducted prior to construction indicated FIU has a long-term need of more than 10,000 student beds.

"The reason we made it larger is it has the absolute best location," he says. "We are right on the corner across from the school. We felt the location merited investing more money in the building getting more student beds. FIU is drastically underserved in terms of beds for enrolled students."

The One is currently 45% leased. Pearl expects it to reach 95% by the time it opens. With the uncertainty brought by the coronavirus pandemic, there is some uncertainty about when classes will start. Leasing velocity has slowed, he says.