UCF is Florida's fastest growing public university with an enrollment of over 39,000 students and new buildings constantly being planned and constructed. In fact, one of UCF's unofficial acronyms is Under Construction Forever. The newest buildings on campus include the Academic Villages, a twin set of dorms designed with a southwestern motif, the Honors College dedicated to honors study programs, the Recreational Services Center, a state-of-the-art gymnasium and athletic facility, a second building for the college of Business Administration, and a state-of-the-art Teaching Academy for upcoming educators.

Finding a parking space at UCF is an ongoing challenge, but the college is hard at work on building new 4-level 1300-space parking garages, with Garage #4 completed during Summer 2002 at the north end of the campus and Garage #5 in the planning stages. Paved parking lots are a thing of the past at UCF, and as such new garages will be constructed overtop of former paved lots, adding new parking spaces without occupying new land.

Projects recently completed on campus include a welcome center for incoming students. Future building projects include a second building devoted entirely to additional classroom space, a new athletics complex (including practice fields, stadium, and a swimming pool), and a new engineering/computer science complex. Most all construction takes place on the main Orlando, Florida campus, although from time to time a stray project may popup at the satellite Daytona Beach, Florida campus or Seminole Country location. Design and planning behind these new projects falls under the domain of the college's Facilities Planning department. Occassionally project land downtown, as is the case with The Electronic Arts and University of Central Florida School of Film and Digital Media and Florida Interactive Entertainment Academy. All new projects fall under the domain of the campus master plan, the document which provides the planning and development goals of the college. This plan is updated every five years and is approved by the college and the state. With the 2003 master plan UCF began to work towards making the process an ongoing one, with updates coming frequently to deal with the constant changes at the college.