The planning for the Student Union was first written about in the Future’s October 1989 issue. It outlined the location of the Student Union, including the debate between former President Colbourn, the Student Senate, and the marching band. The finalized site resides in the center of Pegasus Circle, where the Student Senate wanted the Student Union to be built. However, President Colbourn wanted to leave the middle undisturbed while the marching band did not want to lose their practice marching field. The proposal and finalized plans of the Student Union provide a natural setting and allow for nature trails in accessing the facility. The initial construction date for the first phase of completion was in April 1991 while the second phase was to be completed by 1993. However, due to financial issues from the construction crew, the delay of the Student Union pushed the completion date to August 1997.

The proposed Student Union in the 1990s has the same basic layout that current students are familiar with. However, some retail spaces have since changed in the last decade both with the expansion of the Union and the economic climate. Currently, the first floor includes dining facilities, fast food restaurants, places to meet with friends, places to study, a game room, retail shops, the Knight Stop for groceries, and College Express Optical. In recent years, a United States Postal Service kiosk has been set up for mailing packages. The second floor houses the Student Government Association offices, multipurpose rooms, and computer lab. The third floor has a student lounge and more multipurpose rooms for meetings, lectures, and student organizations. As of 2010, the Student Union is 75,289 square feet; this space is available for activities, computer labs, event halls, restaurants, and various other activities. In addition there are added offices for Campus Faiths & Ministries, Fraternity and Sorority Life, Greek Council, Lead Scholars Program, Student Government Association, Office of Student Involvement, and Student Leadership Development.

During the semester, the Student Union is the central location for friends to meet, print material, grab a bite to eat, or just a good escape from the heat and rain. In the summer months Student Orientation takes place in the ballrooms of the Student Union. The Ballrooms were an expansion that took place in August 1998. Furthermore, as part of the green initiative in 2009, garbage cans have now been divided into different types of garbage and those that are biodegradable are taken off site and fed to worms. Similarly, the roof of the 2nd floor is considered a green roof, where plants on the roof are feed by a flow of storm water.

Watch your step! The Pegasus seal in the center of the floor in the Student Union carries with it a superstition, which states that students who walk over the Pegasus seal will not graduate. According to the 2005 Florida Leader magazine’s ranking of universities within the state, UCF ranks #1 for having the best college superstition involving the Pegasus seal in the Student Union. At orientation students hear the superstition and while almost year-round the seal is roped off, even when it is not students tend to avoid the seal.