Miami-based Related Group may enter a partnership with Florida Atlantic University to build a $250 million mixed-use complex on vacant land at the university’s Boca Raton campus.

The development would include apartments, restaurants and retail stores, a hotel and a convention center.

The development site would be 30 acres on the southeast side of the FAU campus in Boca Raton just east of Interstate 95.

Several developers including Related have shown interest in developing the same site, but “no specific plans are being explored at this time,” Joshua Glanzer, a spokesman for FAU, told the Palm Beach Post.

William Shewalter, vice president of development at Related Group, told the Post the potential project is still in the discussion stage.

Jeff Atwater, chief financial officer of FAU, received a letter dated Nov. 1 from Related with details of the possible development.

The development details outlined by Related include a 360-unit apartment complex with first-floor retail stores and restaurants plus a 150-room hotel and a convention center as large as 30,000 square feet.

A similar development plan may unfold at the Miami campus of Florida International University, where the university wants to build a hotel and conference center. [Palm Beach Post]  — Mike Seemuth

Source: TheRealDeal