The campus includes a 10-story, $112.3 Million Plaza on University Project
The UCF (University of Central Florida) community is transforming and it is transforming fast. With a host of shops, apartments, and restaurants in the pipeline, the campus community is preparing to charm its residents even more.
What is Underway at the UCF Campus?
In the first stage of development, the university campus will see a new resort-style apartment complex, a Wawa, and a 4 Rivers Smokehouse. It will also witness the rise of a 10-story “Plaza on University”, which is being referred to as the university’s most ambitious project by Orlando real estate industry insiders.
The development of new restaurants and eateries comes as no surprise. The University Boulevard has been adding a new restaurant to its list, almost monthly. In the 24 months since 2012, the campus has become home to more than a dozen new eateries and a couple of shops.
The Plaza building will comprise residential apartments and retail spaces. Projected to cost around $112.3 million, the project when completed would cater to the housing needs of 2,200 university students, with a shopping center and a six-screen multiplex. The Plaza will also house a hot tub big enough to support 15 people, a couple of lap-style pools and resort-style pools as well as video-gaming parlors and lounges.
The Plaza that is expected to be built in the fall will also host Floyd’s Barbershop, Bar Louie, and BurgerFi. Orlando Realtors say that the new development projects have been aimed at turning the university campus into a small city so that students and faculty have access to all amenities.
The Enormous Growth is Both Good and Bad
The eight-year period from 2006 to 2013 was marked by economic turbulence that led to a crisis in the real estate market. However, top real estate agents note that the UCF area grew despite the crisis situation. 40 new residential buildings and around one million square feet of space for commercial leasing were added to the UCF campus – most of which happened in 2006 itself.
In the following years, growth slowed down, but revived in 2013 to reach a five-year high as Surf Skate, Lazy Moon Pizza, Burger21, and other stores were introduced to the campus. While Orlando realtors agree that the new developments have enabled nearly 50,000 people to find jobs in and around the campus.
The sprawling growth also has a downside to it. Locals note that the development is uncontrolled and has begun spilling into other areas of the city life and leading to congestion and traffic problems.
