Developer Revises Plans for Mixed-Use ‘University Village’, Located at 555 Northwest Spanish River Road, Boca Raton, FL

Boca Raton-based Penn-Florida Cos. has plans for a massive mixed-use venture in Palm Beach County.

For starters, University Village will comprise 710 homes. According to the South Florida Business Journal, residences will be an array of apartments, single-family homes, and townhomes, along with options for senior living. They would average 1,007 square feet.

The venture would span more than one million square feet. Image from the SFBJ via SB Architects

Plans also call for an office building measuring just over 68,000 square feet, a 185-key, six-story hotel, 150,000 square feet of retail, and close to 3,000 parking spots. University Village would span more than one million square feet and occupy a 77-acre site.

Our sources indicate that this project has been in its developer’s pipeline for close to 10 years. Penn-Florida Cos. secured approval for the project in 2015 but has recently revised its plans. The revisions reduced the number of residential units (although the homes themselves will be larger under the newer plans), the square footage for office space, and the square footage of restaurants/retail.

University Village would take shape over three phases, with the first phase yielding 466 homes, the office space, the hotel, and most of the retail square footage. SB Architects designed it.

It’ll be located at 555 Northwest Spanish River Road, Boca Raton, FL, 33432, in Palm Beach County.

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