University Shoppes Demolition to Make Way for Student Housing Complex
By Georgiana Mihaila, Associate Editor
The 25-year-old University Shoppes retail center across from University of Central Florida’s main entrance is set for demolition, as American Campus Communities will soon be replacing it with a new student housing complex.
Construction will start this week on the development dubbed The Plaza At University. The project will deliver 1,313 student housing beds, 60,000 square feet of new retail space and a 10-level parking structure to the University area within the Northeast Orange County submarket. The 14.03-acre site will be leveled almost entirely, except for the existing McDonald’s restaurant along Alafaya Trail.
The property sits on the northwest corner of University Boulevard and Alafaya Trail at 12209–12321 University Boulevard, placing the mixed-use redevelopment directly across from the main entrance of the University of Central Florida—the second largest university in the country and home to over 58,000 students—and across from Central Florida Research Park, as well as adjacent to Quadrangle Business Park.
“This premier mixed-use off-campus project will redefine student living for students attending UCF,” said Jake Newman, senior vice president of development for American Campus Communities. “With modern private accommodations in an academically oriented environment, plus superior retail amenities that will serve residents and the broader neighborhood, students will have a residential community unlike anything in the Orlando market.”
Bobby Palta of CBRE is in charge of marketing the retail segment of the project, having already begun negotiations with several national and regional retail concepts. The project is scheduled to be completed in the third quarter of 2014 in time for the fall academic semester at UCF.
Image via CBRE.us