The Florida Atlantic University Board of Trustees batted around the groundwork for “Owl Village,” a proposed multi-development project expected to be built on the Boca Raton campus, during its meeting on Monday.

FAU Board Chair Piero Bussani hinted at the project during the board’s retreat meeting at the Harbor Branch Oceanographic Institute, where members discussed strategic plans for a long-term vision for the university. However, university spokesperson Joshua Glanzer told the University Press that this is a long-term project still in the conceptual phase, with no set date or location. He said the project will require multiple levels of approval, both within the university and at the state level.

At the meeting, Bussani outlined an unofficial vision for the “complex” project, which he said could include a restaurant and retail space, a hotel supported by FAU’s lodging and hospitality programs, and office space for biotech and AI companies that could offer student internships. He added that the project may also include student, graduate, and workforce housing.

“We have the space, and I know we have the interest. I know what we can get done,” Bussani said when he announced the project to the board, noting that he had seen similar developments at other universities and wants to replicate them on campus.

Bussani said the project is part of the university’s master plan and strategic plan through 2030. The Boca Raton master plan includes a project designated as the “Mixed-Use Development Gateway,” located on the southeast side of the Boca Raton campus near the University Village Apartments. At the time of publication, the development listed on the master plan had not been confirmed as the “Owl Village” project.

FAU President Adam Hasner said university officials must consider how to use current space effectively as they work to make the campus more “attractive” and accommodate growth. “The reality is that we are a very desirable location, and we see it with the application process, so we need to maximize it,” he said.

Hasner referenced a recent CNBC article that mentioned Boca Raton, home to Florida Atlantic University, as the second most expensive college town in the country, with a median home sale price of $822,701. Hasner said he is aware of the reality of high housing prices and the lack of affordable off-campus options, which he said not only affects the Boca Raton campus community but also the Jupiter campus. He then stated that the goal of this real estate project is to create the university as a “destination” to attract students and faculty, and the board has an opportunity to help address these economic challenges simultaneously. 

Before the announcement of the project, FAU Executive Vice President and Chief Operating Officer Stacy Volnick gave a presentation unrelated to the proposed project, focusing instead on the university’s master plan adopted in 2021 and valid through 2031 for the Boca Raton and Jupiter campuses.

Volnick mentioned that approval of such projects is an intensive process that involves selecting a firm to conduct the project and negotiating a price. She explained that the process involves meeting with the university community and stakeholders, developing a draft, and then submitting it to the Board of Trustees for approval. 

Michael Cook is the Editor-in-Chief for the University Press. For information regarding this or other stories, email michael17cook@gmail.com.