Subject to planning approval, the first stage of UCLan’s vision will see the construction of the £30m-plus Engineering Innovation Centre, due to break ground in January 2016.
Simultaneously, work will begin on the creation of an iconic gateway to the University.
At its heart will be a remodelled Adelphi roundabout with the construction of a new public space, provisionally known as Adelphi Square, drawing together the University and the City.
UCLan’s Vice-Chancellor Professor Gerry Kelleher said: “Over the coming decade we will invest in the region of £200m to create a world-class campus environment which blends new facilities with the creation of public, green spaces to encourage people from all over the City to visit and enjoy the campus.”
The project is also hoped to spark a major focus on regeneration and business investment in the University quarter with wider benefits for Preston and beyond.